6-month revenues were up 209% from the prior period
CORONA, Calif., Sept. 28, 2021 /PRNewswire/ -- Advanced Container Technologies, Inc (Ticker: ACTX), announced its year-over-year revenues, which show an increase of $1,782,000 – representing a 209% increase over the prior period.
ACTX was formed to provide vertically integrated solutions for farm-to-table food products and farm-to-dispensary cannabis products. The company provides everything needed for success: from cultivation systems and fertilizers, to packaging and branding solutions, to distribution networks that place products directly into stores.
While most product lines showed strong growth, the GrowPod product line represented the most significant increase in revenues.
GrowPods are portable, automated indoor micro-farms that can be placed virtually anywhere. The controlled environment inside a GrowPod allows cultivation of a variety of herbs, mushrooms, leafy greens, and vegetables - without pesticides, herbicides or harmful chemicals.
Additionally, GrowPods are delivered with virtually everything needed; so individuals, companies, entrepreneurs, and non-profit organizations can have a clean farm up and running in just a matter of days.
ACTX also reported growth in its packaging line, which includes its unique and patented Medtainer system.
"We are very pleased with the results for the quarter and through the past twelve months," said Douglas Heldoorn, CEO of Advanced Container Technologies. "We continue to work on growing our business and expanding our customer base through a variety of channels, and remain very optimistic about the growth opportunities ahead."
6-month revenues at June 30, 2021 were $2,631,530, up from $849,169 from the prior period. This represents a 209% increase.
The company is also continuing to work on the health of its Balance Sheet and control expenses, to which $270,000 was expensed for non-cash stock compensation and $139,824 was for non-cash depreciation and amortization at June 30, 2021.
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Advanced Container Technologies
This release includes predictions or information considered "forward-looking" within securities laws. These statements represent Company's current judgments but are subject to uncertainties that could cause results to differ. Readers are cautioned to not place undue reliance on these statements, which reflect management's opinions only as of the date of this release. The Company is not obligated to revise any statements in light of new information or events.
SOURCE Advanced Container Technologies, Inc.