Acology Inc. ACOL

Acology shows strong quarter; 33% business increase

[K4LIFEE]

CORONA, Calif., Aug. 15, 2018 (GLOBE NEWSWIRE) -- Acology’s latest quarterly report has been released. Here are some of the highlights:

 

• Business is up 33% over same period last year and trending higher
  
   
• Sales exceeded $1.1 M, which reflected a nearly 10% increase over the past year
  
   
• Acology’s portfolio increased by an instant $2.5M with the purchase of the MedTainer™ intellectual property
  
   
• Inventory control is well in hand despite the surge in product orders
  
   
• Acology remains one of the few fully-reported and audited stock companies in this sector

The cannabis industry has begun to take increased notice of Acology and the MedTainer as an essential pre-packaged retail partner, especially in the Canadian sector, where Acology products are perfectly positioned to fulfill the compliance rules that the Canadian Government has posted. In approximately 8 weeks, as licensed Canadian retailers open their stores and customers are finally able to begin purchasing legal cannabis experts predict that it will see sharp increases in the entire sector, including Acology. This was the main reason that Acology purchased and re-registered, at considerable expense, the intellectual property mentioned above. More Licensed Producers in Canada have ordered customized MedTainers. The company’s decision to invest considerable resources in April have been justified and the focus now is on increasing sales to all Acology distributors and landing Purchase Orders from the LPs. Acology’s LP orders have increased month-over-month. The company is also continuing to diversify its product line and sales of the MedX 2-Way Humidity Packs are rising steadily. The market notes that this to the fact that the system is far superior to any other product on the market. This assertion is based on both the science and the performance of the product. Each MedTainer is now pre-packaged with a 4gr pack. Retailers and customers have been extremely enthusiastic with this extra-added bonus. Acology’s management believes that its position has never been better and the company’s financials bear this out.