CEO Interview on SeekingAlpha Personal wellness is a topic that has only become more important during the pandemic. HempFusion is a company in the wellness market that has recently got my attention. They have a portfolio of companies producing various cannabis, probiotic, and wellness products. I just watched an interview with $CBD’s CEO, Jason Mitchell, about how he‘s steering the company away from THC and what they have in store for this year.
I’ll do a quick summary below, but here's the link if anyone wants to watch it: https://seekingalpha.com/article/4477707-hempfusion-ceo-jason-mitchell-cannabis-without-thc
- He starts off talking about his experience as a medical professional and successful product developer before starting HempFusion
- The name HempFusion comes from the idea of having a diverse formulation for their hemp extract (containing numerous different wellness ingredients)
- They focus on bringing OTC topicals to market and have a wide variety of ingestibles
- The guidance they gave to investors in September of $20M-25M in 2022 revenues is without consideration of much of any positivity coming from a regulatory change, and they're already moving towards validation in the UK
- They did $1.4M in October 2021 alone, this shows growth because they only did $3.8 in revenue over the entire 2020 year.
- The 2 main goals for 2022 are reducing costs to reach profitability sooner and continue expanding the retail footprint to build sales and prepare for any regulatory change
It's definitely a great interview, so make sure to check it out. Overall, $CBD is a company to watch this year. With a wide variety of companies and products in their portfolio, without a doubt, they'll be able to hit their revenue targets. The current valuation of $24.5M is relatively low, considering the company's expected growth.