Stem Holdings Inc (OTCMKTS:STMH) posted an increase of 960% YoY to $6.7 million in Q3 2020. It is on the backdrop of launching innovative products, inaugurating a new dispensary in California, and integrating businesses based in Oregon. The company achieved savings in operational expenses by 27% through product initiatives and acquisition synergies.
Executes four-point plan
Stem is executing the four-point plan revealed in July 2020, a shareholders conference. CEO of Stem, Adam Berk, said the company achieved the best performance in Q3 2020 by successfully managing its cash flow and operations during the challenging times of ongoing coronavirus.
Works relentlessly to improve yields
Adam further said its team is working relentlessly to expand and improve the output of topnotch products in the world. It is also improving presence in the vital markets. It will prudently manage its cash balances with stringent controls on inventory and meticulously managing the payables and receivables.
Introduces TJGardens brand Tinctures
Stem introduced innovative tinctures under the TJGardens brand in July 2020 for recreational consumers and medical patients. Popular genetics of TJGardens are offered in trial packages. Seven varieties that comprise sativa and indica varieties and products comprise cannabidiol are available for consumers to try immediately and improve their experience.
Try trial sizes
Adam said the company will sell tinctures along with its other products. It also offers trial sizes for the new customers at reduced rates to check whether the products meet their needs. Later, they can purchase full-sized tinctures with confidence. Surely, the quality of the tinctures produced at its facilities surpasses the expectations of customers.
Stem will use its existing cultivation and sales outlets facilities in Oregon to market its tinctures. The company will manufacture its products from the current biomass. As the sales of tinctures pickups gradually, Stem will strengthen its revenues.
Operating Partnership with Alternative Organics
Stem signed an operating alliance with South Oregon based Alternative Organics, LLC, which engages in the cultivation and marketing of the Chunky Knob™ cannabis brand.
Alternative Organics manages Medford, Oregon based outdoor cultivation and light-deprivation greenhouses. Under the terms of the deal, Stem will manage daily business operations, whereas Alternative Organics regulates the company.
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