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-Growhouse Revenue is $2.3M for 9 Months Ending September 30, 2023-
TULSA, OK, Nov. 28, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Ladybug Resource Group, Inc.; (OTC PINK: LBRG) ("Ladybug" or the "Company"), following the Company’s acquisition of Growhouse Nutraceuticals Ltd., the company announces that for the nine (9) months ending September 30, 2023, Growhouse has stated revenues of $2.3M US. This is approximately $300K more than the total revenues generated in 2022.
The Growhouse stated revenues for Q1-Q2 and Q3 of 2023 were $727K, $788K and $826K, USD, respectively. This is a steady increase of approximately 9% per quarter.
The company has acquired new products, along with expanding customer acquisition, while management is focused on its growing eCommerce platform. Growhouse will focus on its online retailing of its nutraceutical products that combine elements of both nutrition and pharmaceuticals, offering health benefits beyond basic nutrition. The nutraceutical industry has experienced significant growth in recent years, driven by increasing consumer awareness of health and wellness, a growing aging population, and a desire for natural and preventive health solutions. As a result, nutraceutical products have become popular items in the ecommerce market, where consumers can easily access a wide range of options from the comfort of their homes.
Stay updated with the latest announcements by visiting our websites at https://ladybuglbrg.com, https://growhousenutraceuticals.com or via our social media channels.
Safe Harbor for Forward-Looking Statements: This news release contains forward-looking statements which are not statements of historical fact. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes,” “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties, and other factors involved with forward-looking information could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include but are not limited to changes in general economic and financial market conditions. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.