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Overview of CLS Holdings USA, Inc. (CLSH)
CLS Holdings USA, Inc. (OTCQB: CLSH, CSE: CLSH), also known as Cannabis Life Sciences, is a diversified cannabis company headquartered in Las Vegas, Nevada. The company operates as an integrated cannabis producer and retailer, leveraging its proprietary cannabinoid extraction methods to deliver high-quality and consistent products. CLS Holdings oversees a vertically integrated business model that spans cultivation, processing, product development, retail operations, and consulting services. Its flagship retail brand, Oasis Cannabis, and its production brand, City Trees, exemplify its commitment to innovation, sustainability, and consumer satisfaction.
Core Business Areas
At its core, CLS Holdings focuses on the extraction and conversion of cannabinoids from the cannabis plant into a variety of products, including concentrates, oils, edibles, and shatters. These products cater to diverse consumer preferences, ranging from recreational users to those seeking therapeutic benefits. The company’s proprietary extraction technology ensures a higher level of purity, consistency, and quality, setting it apart in the competitive cannabis market.
Retail and Distribution
Through its Oasis Cannabis dispensary in Nevada, CLS Holdings serves both local residents and tourists, offering a wide range of cannabis products. Oasis Cannabis has been recognized as one of Nevada’s top dispensaries, strategically located near the Las Vegas Strip and Downtown Las Vegas. The company also operates a robust delivery service, enhancing accessibility for its customers. Additionally, CLS Holdings has expanded its distribution network through its City Trees brand, which is now available in Nevada, New Mexico, and New York.
Innovation and Product Development
CLS Holdings is at the forefront of cannabis innovation, as evidenced by its strategic partnership with SOMA to develop solventless cannabis extraction technologies. This collaboration has led to the creation of a groundbreaking solventless vape product, offering consumers a cleaner and more authentic cannabis experience. The company’s commitment to innovation extends to its product portfolio, which includes cannabis concentrates, infused products, and distillates featuring cannabis-derived terpenes.
Sustainability Initiatives
Demonstrating its dedication to environmental responsibility, CLS Holdings has partnered with AE Global’s Talk Trash Initiative to introduce certified plastic-negative packaging. This initiative underscores the company’s commitment to sustainability by preventing ocean-bound plastic and minimizing its ecological footprint. Through these efforts, CLS Holdings is setting new standards for environmental stewardship in the cannabis industry.
Strategic Growth and Expansion
CLS Holdings employs an asset-light licensing strategy to facilitate its expansion into new markets. This approach has enabled the company to enter the burgeoning recreational cannabis markets of New Mexico and New York, with plans for further growth. By leveraging partnerships with local license holders, CLS Holdings efficiently scales its operations while maintaining its commitment to quality and consistency.
Market Position and Industry Challenges
Operating in a highly regulated and competitive industry, CLS Holdings navigates challenges such as federal legislative hurdles and market saturation. However, its focus on innovation, sustainability, and consumer-centric products positions it as a resilient player in the cannabis sector. The company’s strategic initiatives, including partnerships and product diversification, highlight its adaptability and long-term growth potential.
Conclusion
CLS Holdings USA, Inc. exemplifies a forward-thinking approach to the cannabis industry, combining proprietary extraction technologies, innovative product development, and sustainable practices. Its vertically integrated model and strategic market expansions underscore its commitment to delivering high-quality cannabis products while addressing evolving consumer demands. As the cannabis industry continues to grow, CLS Holdings is well-positioned to capitalize on emerging opportunities and set benchmarks for quality and sustainability.
CLS Holdings USA (OTCQB:CLSH) reported September 2021 revenues of $1.7M with a gross margin of 50%. The company's branded division, City Trees, saw a 22% year-over-year revenue increase and 66% growth from 2019. Oasis Cannabis, their retail division, maintained an average order size of $54. A new joint venture will produce 200,000+ pre-rolls monthly. City Trees remains a market leader in tinctures and dabbable concentrates in Nevada, showcasing strong operational performance amid a competitive landscape.
CLS Holdings USA reported its first profitable quarter in history for Q1 FY2022, ending August 31, 2021. The company achieved a net income of $427,599, a significant turnaround from a net loss of $1,145,036 in Q1 FY2021. Revenue grew by 45.5% year-over-year, while SG&A expenses were reduced from 63.6% to 52.6% of revenue. Oasis Cannabis and City Trees divisions reported net income increases of 21.39% and 152.41%, respectively. The company anticipates continued growth through new joint ventures and innovative product launches.
CLS Holdings USA (OTCQB:CLSH) announced a 50/50 joint venture with RANSON SHEPHERD to manufacture pre-rolls, which represented 11% of Nevada's cannabis sales in 2020. The venture aims to produce over 200,000 pre-rolls per month post-start-up, leveraging the company's 22,500 sq ft manufacturing facility. The average wholesale price of pre-rolls in Nevada is approximately $3 per unit. This collaboration is expected to enhance profitability and create jobs within the community, positioning CLS as a competitive player in the cannabis market.
CLS Holdings USA (OTCQB:CLSH) reported strong financial results for August 2021, achieving net revenues of $1.8M and a gross margin of 51.9%. This marks a 24.8% increase year-over-year and a 50.7% rise compared to August 2019. The retail outlet, Oasis Cannabis, was operational for 29 days due to staff appreciation activities. A 4.95% increase in transaction volume and a 90.9% revenue growth for its branded division, City Trees, were also noted. The company continues to expand its workforce, reflecting its ongoing growth.
CLS Holdings USA, Inc. (CLSH) reported record financial results for the fiscal year ended May 31, 2021, achieving total revenues of $19,292,087, a 61.9% increase from FY 2020. The fourth quarter revenues reached $6,264,960, marking a 107.9% increase year-over-year. Gross margins improved to 50% for both FY 2021 and FY 2020. The net loss decreased significantly to $15,890,514 from $30,657,973 in the prior year. Adjusted EBITDA improved to ($123,617), up from ($1,732,557).
CLS Holdings USA (OTCQB:CLSH) announced strong financial results for July 2021, with net revenues of $1.9 million and a gross margin of 50.4%. This marks a 40.9% year-over-year increase in revenue and a 104.1% increase compared to July 2019. Key highlights include an 18.8% increase in transactions at Oasis Cannabis and a 160.9% rise in revenue for the City Trees brand. The company successfully adapted to COVID-19 restrictions, ensuring uninterrupted operations.
CLS Holdings USA, Inc. (CLSH) reported strong performance for its brand City Trees in June 2021, achieving a 153.2% increase in concentrate units sold year-over-year. City Trees ranked as the 3rd highest sold brand in Nevada's concentrate market, contributing to approximately $18 million in total retail sales. Additionally, it maintained its status as the number 1 tincture brand in Nevada, capturing 13.2% of the tincture market share. The company aims to expand its production capacity and product range in upcoming quarters.
CLS Holdings USA, Inc. (CLSH) reported robust financial results for June 2021, with net revenues of $1.8M and a gross margin of 56.2%, marking a 63.1% year-over-year increase in revenue and an 8.9% rise in gross margin. The retail subsidiary, Oasis Cannabis, achieved a 48.9% revenue increase, while the wholesale division, City Trees, saw a remarkable 110.7% revenue surge. CLS's growth has outpaced the state average despite stiff competition, and they announced an endorsement with UFC fighter Sasha Palatnikov.
CLS Holdings USA (OTCQB:CLSH) reported robust financial results for May 2021, achieving $1.9M in net revenues, an 87.7% increase year-over-year. The gross margin stood at 53.6%, reflecting an 8.7% rise compared to last year. Oasis Cannabis, its retail subsidiary, saw a 59.41% jump in revenue, while the City Trees division experienced a 231.6% revenue surge. Operations expanded into New Mexico, enhancing production capabilities. The company anticipates continued growth amid rising tourism in Las Vegas.
CLS Holdings USA, Inc. (CLSH) has secured its first UFC endorsement deal through its City Trees brand with welterweight fighter Sasha Palatnikov. This partnership follows the UFC's updated cannabis policy, which no longer penalizes fighters for THC use. Palatnikov expressed enthusiasm about the collaboration, highlighting City Trees' commitment to quality products that assist athletes. CLS aims to leverage this partnership to innovate within the cannabis wellness sector, anticipating further changes in sports organizations' cannabis testing regulations.
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