Wikileaf Technologies Reports Third Quarter Results
SEATTLE, November 29, 2019 (Newswire.com) - Wikileaf Technologies, Inc. (the “Company”) (CSE: WIKI) is pleased to announce that it has filed its unaudited quarterly financial statements (the “Q3 Financials”) and management’s discussion and analysis (the “Q3 MD&A”) for the three and nine months, ended Sept. 30, 2019 (the “Third Quarter”). Both are available under the Company’s profile on SEDAR at www.sedar.com and on the Company’s website at www.wikileaf.com.
"We made significant progress toward a number of our key corporate initiatives in the third quarter,” said Dan Nelson, chief executive officer of Wikileaf Technologies. “We completed our public listing on the CSE, accelerated our traffic acquisition, made key executive hires and prepared to initiate our monetization strategies.”
“With the completion of these milestones and the proceeds of our recent financing, we are well-positioned to execute on our plans to advance the business towards our goals in 2020."
Third Quarter 2019 Operational and Other Financial Highlights
- Financial Results: The Q3 Financials disclose a loss of $1.65 million in the Third Quarter.
- Average Monthly Site Traffic: 925.7 thousand on average for the quarter ending Sept. 30, 2019, an increase of 156% year-over-year.
- Average Monthly Site Users: 675.9 thousand on average for the quarter ending Sept. 30, 2019, an increase of 136% year-over-year.
- Active U.S. Dispensary Locations: 4,655 U.S. licensed dispensaries for the month ending September 2019, an increase of 102% year-over-year.
- Cash: Cash was $5.73 million as of Sept. 30, 2019.
Wikileaf is a price comparison platform for recreational and medicinal cannabis consumers. Wikileaf provides consumers with instant price comparison among dispensaries in their immediate vicinity.
This release contains certain “forward-looking statements” and certain “forward-looking information” as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. Forward-looking statements and information include, but are not limited to, statements with respect to the Company’s monetization strategies and 2020 goals. Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the inherent risks involved in the general securities markets; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, currency fluctuations; regulatory restrictions, liability, competition, loss of key employees and other related risks and uncertainties. The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents managements’ best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
For more information about Wikileaf, please visit www.wikileaf.com, or follow us on Twitter @Wiki_Leaf, Instagram @wiki_leaf, Facebook @Wikileaf and YouTube Wikileaf.
Source: Wikileaf Technologies Inc.
Tags: "cannabis tech", Canadian Securities Exchange, Cannabis, Cannabis Price comparison, Cannatech, Dan Nelson, Mobile App, Quarter Results, recreational and medicinal cannabis, SaaS, Website, Wikileaf