November 16, 2014

CannaVest Corp. Reports Third Quarter 2014 Financial Results

Yahoo! Finance
During the third quarter we terminated our Non-Exclusive License and Distribution Agreement (the "HempMeds Agreement") with HempMeds PX, LLC ("HempMeds").  The HempMeds Agreement granted HempMeds a non-exclusive, worldwide license and right to promote, market, sell, distribute and service the Company's products and an exclusive right to online sales.  The HempMeds Agreement termination resulted in a significant revenue loss for the Company but provided an opportunity for CannaVest to better control its sales channels, brand awareness and future profitability without having to rely on a single customer relationship.  The termination also allowed CannaVest to pursue revenue from online sales.

No comments:

Post a Comment