The cannabis market may have had its fair share of difficulties in recent times, but it is a sector that continues to be on the radars of investors looking for longer-term potential. Yesterday, Rodedawg International Industries Inc. (OTC:RWGI) came into the news cycle after it announced that, along with Parabola Mgmt LLC, its fully owned subsidiary, it had expanded into a diversified cannabis business.
The Chief Executive Officer of the company, Chris Swartz, spoke at length about Rodedawg International Industries’ direction as a business. He started off by saying that in the previous six months the company had made considerable progress, and hence it was time to provide the shareholders with an update about the manufacturing capabilities and growth of sales channels.
He noted that exciting times were on the horizon for Rodedawg International Industries and its shareholders since the management believed the various manufacturing and sales channels were going to make it one of the fastest-growing cannabis companies in the United States.
Following a meeting with the accounting team, it was discovered that in addition to the growth in revenues, the company’s team had also managed to hit the milestones for the first quarter. It was well on track to complete the milestones for the second quarter as well. Swartz stated that over the course of the past couple of years, Rodedawg International Industries has made a number of announcements with regards to its many initiatives.
However, the company finally reached a point at which those business lines finally started making positive contributions towards the growth of sales in the company. He noted that the company is currently home to Elixicure, its proprietary tropical pain relief roll-on spray, the Costa Mesa License for distribution, manufacturing, and delivery, the Coachella Facility for servicing hemp producers, and the proprietary cannabis retail brands Brother Buds and Tree Moguls.
