Liberty Health Sciences Inc (OTCMKTS:LHSIF) has posted robust revenues of $16.12 million in Q3 2019. It is an increase of 508% when compared to the same period last year. The major contributing factors to the robust revenues in Q3 2019 include the inauguration of new delivery locations, new dispensaries, and increased in-store sales volumes. An increase in the registered patient base in Florida for medical marijuana use also contributed to the uptick revenues.
The board of directors of Liberty has recruited Victor Mancebo as the Chief Executive Officer. He is working as an interim CEO from February 12, 2019. The company has achieved tremendous growth under his leadership. Chairman of Liberty, William Ralph Pfeiffer, said the board is confident that Victor will lead the company into a new growth path. Commenting on his appointment, Chairman said Victor delivered exceptional operational excellence in all business areas. The board is confident that Victor will deliver rich dividends to the shareholders.
The product line of Liberty
The product line of Liberty comprises Pretty Pistil, Zentient, Liberty Health Sciences, Lemon and Grass, PAX, G Pen, Mary’s Medicinal, and Papa’s Herb. Liberty is an early entrant to Florida to introduce whole flower products in all the dispensaries. The company has posted monthly sales that include smokable medical marijuana of over $6.1 million in November 2019. In terms of dispending smokable marijuana, Liberty occupies the second slot in the last five months.
Liberty is on the expansion spree of the dispensaries to support future growth. It has initiated processing and cultivation on an area of 387-acre Liberty-360 facility. The 387-acre facility comprises over 300,000 Sq. Ft. of greenhouse processing/ production space. With this facility, Liberty benefits from low-cost production of marijuana in Florida.
CEO of Liberty, Victor, said the company exhibited robust performance in Q3 2019. He said the company is fortunate to post excellent results on the backdrop of knowledgeable and dedicated staff across Florida and loyal patients. The company operates twenty-three dispensaries that include 18 dispensaries opened in Q3 2019 in Florida. Liberty inked lease agreements for another 10 locations.
Zeifmans LLP will act as the new independent auditor for Liberty with effective from December 18, 2019.
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