- In FY2017, the company’s investor relations business grew 130%, and its subscriptions business rose by 57%
- Warren Wang, founder and chief executive officer of CIIX, sets goal of greater than 100% gain in sales in FY2018 and cost-cutting to achieve profitability
- Company excited about its expansion of auxiliary services into the digital currency industry; Wang says that market will offer long-term opportunities
ChineseInvestors.com, Inc. (OTCQB: CIIX) recorded a skyrocketing 76% year-over-year operating revenues increase for its fiscal year ended May 31, 2017. The company’s two divisions exhibited double-digit and triple-digit growth in FY2017. The investor relations business grew 130%, while the subscriptions business rose 57% during the 2017 fiscal year, the company reported (http://cnw.fm/jYsL3). Total sales grew to $1,667,977 in FY2017 compared to $948,385 the prior year.
Warren Wang, founder and chief executive officer of CIIX, says the company’s goal is more than a 100% jump in FY2018 sales, while cutting costs and achieving profitability.
The primary reason for the increase in sales for the two divisions was a decision by management to be more discerning in deciding which companies would receive its investor relations services. Also, the firm placed itself on a more cash compensation basis — resulting in more sales — rather than taking equity compensation.
CIIX has a goal of becoming the primary Chinese medical cannabis publicly traded company. It is focused on the R&D and distribution of legalized, hemp-based cannabidiol (CBD) to the global Chinese-speaking community. It maintains an online store in the free trade zone of Shanghai, China, and plans on opening a brick-and-mortar outlet in San Gabriel, California.
Before the end of 2017, CIIX plans to launch a cryptocurrency education and trading subscription service and the first Chinese daily video news broadcast from the NYSE covering digital currency and blockchain technology. It has also established CBD Biotechnology Co., Ltd., as a wholly-owned subsidiary in Shanghai, China. It launched OptHemp, its first hemp oil product line. In the coming months, the company said, it will unveil in China its first hemp-infused skin care product line.
“I am very pleased about the Company’s significant increase in revenue in the fiscal year ended May 31, 2017,” Warren Wang, founder and chief executive officer of CIIX, stated in a news release. “Although the blueprint of our Company’s business strategy has expanded through its entrance into the Hemp Industry, our core subscription and investors relations services remain strong with significant growth rates. I am thankful for the investors who have supported our ongoing development plans and look forward to a prosperous year ahead.”
For its non-industrial hemp-based products, the company has engaged Scottsdale, Arizona-based Launch Haus LLC to help it in its direct response marketing, digital, e-commerce and direct sales channels.
In addition, the company has thus far realized $2 million through August 29, 2017, from its private placement of some 10 million shares of its Series D-2017 convertible preferred stock, priced at $1 per share.
For more information, visit the company’s website at www.ChineseInvestors.com
More from CannabisNewsWire
CBDWire (CBDW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CBDNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CBDW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CBDW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CBDW brings its clients unparalleled visibility, recognition and brand awareness. CBDW is where news, content and information converge.
For more information please visit https://www.cbdwire.com