Today, the Cannabis industry is all about connections. There are so many touchpoints, including manufactures, suppliers, retailers, and distributors. ManifestSeven Holdings Corp (OTCMKTS: MNFSF) quickly integrates these touchpoints into a unified state-wide platform as it pushes through support for cannabis enterprises and consumers.
ManifestSeven (M7) is not shaken because it reported decreased consolidated revenue of $3.8 million in its Q1 2021 compared to the $4.1 million for the same prior-year period. In addition, a disruption in one of the company’s third-party e-commerce distribution channels caused extended delays in products’ delivery time, resulting in declined revenues. This also occasioned declined consolidated gross profit from $1.3 million last year to $1.3 million in Q1 2021.
Nonetheless, the company’s gross profit margin stayed somewhat steady at 30% for the fiscal first quarter. Besides, it aggressively moves forward to drive shareholder value and develop a differentiated platform of brands and assets.
M7’s Greater Market Share vs. Increased Demand for a Complete Suite of Business Solutions
ManifestSeven is keen on bringing affirmative changes to the cannabis industry. It is also widening access to its comprehensive suite of products and solutions to businesses and consumers. The primary focus is on enhancing its infrastructure to support anticipated growth in regulated areas of California’s cannabis market, which is maturing by day.
M7’s CEO Sturges Karban explains that their single-minded focus for 2021 is to push its B2B and B2C cannabis superhighway to support the increasing demand for efficient and reliable cannabis distribution and delivery in California. Meanwhile, the company is also focusing on executing core strategic initiatives and actively evaluating acquisitions and strategic partnerships.
“2021 and beyond presents an opportunity for M7 to capture even greater market share and as we recognize increased demand for seamless and compliant distribution and retail operations….” Karban added.
In other news, M7’s Board of Directors has appointed Scott Wessler as its Chairman. In contrast, Dilshad Kasmani has been promoted to serve as President and his current role as Chief Legal Officer. Kasman takes over from Urban Smedeby, who stepped down from President.
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