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Sugarmade Inc (OTCMKTS:SGMD) Reports Corporate Changes



Sugarmade Inc (OTCMKTS:SGMD) reported the measures being taken to change its corporate operations as it turns into one of the leading publicly traded suppliers to the global buzzing cannabis industry. Jimmy Chan, the CEO, expressed that they are taking decisive measures to modify their businesses in order to prepare for the extensive increase in business they are anticipating.

The buzz

Expanding a business infrastructure efficient of expanding by over 500% during 2018 is definitely a challenge, however they have already commenced the procedure. They will be offering detailed revenue projection for FY2018 over the imminent few weeks. All of them at Sugarmade expect to grow with the market over the coming years. There are several steps that the firm is implementing in order to set to meet this challenge.

Sugarmade’s top priority remains to engage highly experienced financial and accounting personnel. To this end, recently the firm made an employment offer to a highly skilled person who would become company’s Chief Financial Officer. Other positions have been enhanced and numerous new mid-level financial and accounting specialists are being actively hired.

Sugarmade intends to move its headquarters to a more appropriate building with ample space to house all personnel. The firm plans to stay in the greater Los Angeles to accommodate its existing staff. It plans to start the procedure of warehouse consolidation to enhance the logistical procedure and to further reduce related costs. It is probably much of the new warehouse area will be based in close vicinity to new office space that will be used.

Sugarmade recently reported to its shareholders, and to the expanding cannabis marketplace, the establishment of the largest growing publicly traded hydroponics supply and cannabis firm. The company has closed a master market deal with industry pioneer BizRight Hydroponics, Inc., a major manufacturer and marketer of cannabis as well as hydroponic growth supplies.

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