Connect with us


SLANG Worldwide (OTCMKTS: SLGWF) Restructures Sales And Marketing Departments As Part Of Cost Cutting Initiatives



SLANG Worldwide (OTCMKTS: SLGWF) has announced that it has done away with the Chief Revenue Officer position effective January 14, 2022. As part of the company’s efforts to drive future revenues, increase operational efficiencies, and minimize capital expenditures, the decision was made following the actions taken to reorganize the sales and marketing teams.

SLANG reorganized marketing and sales departments

Drew McManigle, Interim CEO and Chairman, said, “Since I joined in November, we have been reviewing the entire company, intending to reposition SLANG as a highly effective, nimble organization. Following our internal review process, management has made the decision to restructure the sales and marketing departments, resulting in the elimination of the Chief Revenue Officer position. Through this restructuring, our main goal is to improve operational efficiencies, while positioning the company for future revenue growth, and helping to drive shareholder value.”

“We would like to thank Mr. Hilal Tabsh for his contributions while serving as Chief Revenue Officer and wish him the best in his future endeavors,” added McManigle.

The company also announced that it had distributed common shares to some former and current executives in exchange for compensation deferrals committed to in fiscal 2020 to save cash: A previous executive received 377,825 common shares at a presumed price of $0.0920 per share, while current executives received 138,107 common shares at a supposed price of $0.3258 per share. The securities are subject to a four-month and one-day hold period beginning on the issue date and ending four months and one day afterward.

SLANG reported revenue of $10.1 million in Q3 2021

Recently the company announced  Q3 2021 revenue of $10.1 million, up from $7.9 million in Q3 2020. In the third quarter of 2021, the company earned about $1.1 million in sales following the closing of the purchase of High-Fidelity, Inc. in August 2021. SLANG’s brands continue to gain market-leading status in its Main Markets of Vermont and Colorado. Cash and equivalents were $3.5 million as of September 30, 2021, including $5 million in transaction charges paid after the HiFi acquisition.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.



Halo Collective Inc. (OTCMKTS: HCANF) Signs $14 Million Unsecured Loan Agreement With Global Tech Opportunities 6

Post Views: 44 Halo Collective Inc. (OTCMKTS: HCANF) has announced the signing of a Loan Agreement with Global Tech Opportunities...

Business2 hours ago

Mydecine Innovations Group (OTCMKTS: MYCOF) Engages JBN Partners and Attains AI Breakthrough in psychedelics Drug Development

Post Views: 39 Mydecine Innovations Group (OTCMKTS: MYCOF) has announced the engagement of JBN Partners LLC to boost public awareness...

Business2 hours ago

SLANG Worldwide (OTCMKTS: SLGWF) Restructures Sales And Marketing Departments As Part Of Cost Cutting Initiatives

Post Views: 41 SLANG Worldwide (OTCMKTS: SLGWF) has announced that it has done away with the Chief Revenue Officer position...

Business2 hours ago

Revive Therapeutics Ltd. (OTCMKTS: RVVTF) Clarifies Disclosures Regarding The Third Phase Study Of Bucillamine in COVID-19

Post Views: 25 Revive Therapeutics Ltd. (OTCMKTS: RVVTF) has clarified some disclosures in a press release entitled, “Revive Therapeutics Provides...

Business22 hours ago

Snakes & Lattes (OTCMKTS: FUNN) Offers Updates to Shareholders About Name Change, Expansion Plans, And Leadership Changes

Post Views: 3 Snakes & Lattes (OTCMKTS: FUNN) has offered a quarterly update to shareholders and a roadmap on where...

Business23 hours ago

Stereo Vision Entertainment Inc. (OTCMKTS: SVSN) stock Surges After SEC Qualifies Its $500k Reg A

Post Views: 6 Registration Statement. The company had filed a $500k SEC Reg A, which will offer advertising and compliance funding...