Welcome to our dedicated page for GROUNDED PEOPLE APPAREL news (Ticker: GPAIF), a resource for investors and traders seeking the latest updates and insights on GROUNDED PEOPLE APPAREL stock.
Grounded People Apparel Inc. is an innovative apparel company based in Vancouver, Canada, focusing on delivering high-quality, 100% PeTA-approved vegan products to its customers. The company's primary focus is on fair-trade, sustainable, and earth-conscious fashion, with its initial products being canvas sneakers made from sustainable materials. These sneakers are manufactured in a 100% vegan facility in Brazil by fair-trade workers. Additionally, Grounded People Apparel runs the L.A.C.E.S. campaign, where consumers can choose a set of shoelaces associated with a charity, with all profits from sales being donated accordingly.
Grounded People Apparel Inc. (CSE:SHOE)(OTCQB:GPAIF) has reported a record increase in sales orders for its shoes from April to June 2024. The company achieved 571 sales orders during this period, compared to just 58 in the same period last year. This also surpasses the previous record of 398 orders set in Q1 2024.
CEO Maximilian Justus expressed optimism about the company's trajectory, stating that this record demonstrates growing demand for their products. Grounded People plans to sustain this momentum by enhancing marketing strategies, entering new markets, and fostering innovation while maintaining its commitment to sustainability and fair trade principles.
However, the company cautions that these figures are unaudited and based on Shopify Reporting System data. Past performance may not indicate future results, and there's no guarantee that increased orders will translate to higher revenue or low return rates.
Grounded People announced a non-brokered private placement to raise up to $2,000,000 through the issuance of 3,333,333 units at $0.60 per unit.
Each unit includes one common share and one transferable share purchase warrant, allowing the holder to buy an additional share at $0.75 within five years. The closing date is expected around August 23, 2024.
Net proceeds will be used for working capital and general corporate purposes. Amalfi Corporate Services , a related party, will receive shares worth 1% of the total units issued as an administrative fee. The securities are subject to a resale restriction of four months and one day and will not be registered under the U.S. Securities Act of 1933.
Grounded People, a sustainable shoe company, has retracted a previous financial disclosure announced on June 7, 2024. The retraction, requested by the British Columbia Securities Commission, addresses the lack of balance and context in reporting sales increases solely through percentages. The company acknowledges these shortcomings and has removed the disclosure from all channels. Additionally, Grounded People reiterates having a $550,000 agreement with Stride Publishing for investor relations and digital marketing services, paid in February 2023.
Grounded People Apparel, a sustainable shoe company, announced a record-breaking 6,500% increase in sales orders for Q1 2024 compared to the same period in 2023. March 2024 was particularly successful, with a 46.7% increase in sales from February 2024 and a 3,825% increase from March 2023. This surge reflects growing consumer demand for eco-friendly products. To sustain this momentum, Grounded plans to enhance marketing efforts, expand its product line, and explore new markets. The company aims to bolster sales and brand reputation while adhering to sustainability and fair trade values.
FAQ
What is the current stock price of GROUNDED PEOPLE APPAREL (GPAIF)?
What is the market cap of GROUNDED PEOPLE APPAREL (GPAIF)?
What is Grounded People Apparel's primary focus?
Where are Grounded People Apparel's initial products manufactured?
What is the L.A.C.E.S. campaign?
What sets Grounded People Apparel apart from other apparel companies?
How can consumers support charities through Grounded People Apparel?
What materials are used in Grounded People Apparel's products?
Where is Grounded People Apparel headquartered?
Who leads Grounded People Apparel?
How can investors get in touch with Grounded People Apparel?
What is the company's approach to innovation and sustainability?
