America Prepares to Reopen and
Needs Sanitary and Non-Medical
Personal
Protective Supplies – Sugarmade
Received
$10 million in New Orders
NEW YORK, NY -- May 6, 2020 -- InvestorsHub NewsWire
-- Sugarmade,
Inc. (OTCQB:SGMD)
("Sugarmade", "SGMD", or the "Company"), today announces the
receipt of over $10 million in new orders for consumable sanitary
supplies and non-medical
personal protective
items, as America prepares to get back to work.
Businesses across the country that are preparing to reopen face
both the moral and legal obligations to protect their workers and
customers.
Many are scrambling for supplies as part of this re-opening
process.
Sugarmade's
CarryOutsupplies.com operating unit is benefiting via receiving
purchase orders in excess of $10 million.
"We have never seen anything like this
situation.
We believe we are in a unique situation relative to the re-opening
of America," commented Jimmy Chan, CEO of
Sugarmade.
"Approximately two months ago we began importing consumable
sanitary supplies and non-medical
personal protective
gear.
As it turns out, this was a wise move.
We sold out of nearly all of what we received.
Fortunately, we have the sourcing and trans-Pacific logistical
experience to bring in much larger quantities to help meet the
insatiable demand that is developing as business, universities, and
government institutions order supplies to protect their workers and
customers.
We have a lot more product in the supply chain that will soon be
headed to our customers."
Over the past 15 years of operations Sugarmade has gained
considerable experience relative to sourcing paper and consumable
products from Asian factories and importing these products into the
United States.
The Company has drawn on these experiences and industry contacts to
identify multiple factory sources that indicate a willingness to
supply millions of dollars of products to Sugarmade. By way of this
experience, the Company believes it will be able to facilitate the
movement of the huge amounts of supplies that companies and
government entities are now demanding as they begin to execute
plans to re-start operations.
Mr. Chan continued, "America is getting back to work and we are
here to help with many of the supplies businesses and other
institutions are demanding. We are quickly expanding our sourcing
and importing efforts to help U.S. businesses and other
institutions protect their employee and provide safe working
environments.
While the gating factor in filling these orders, over the short
term, will be the availability of air freight, we also believe we
are well position relative to the longer-term as our considerable
experience in trans-Pacific logistics is brought to
bear."
Investors, the public, and other interested parties are advised to
reference the Company's recent filing with the U.S. Securities
& Exchange Commission on Form 8-K concerning these events and
to reference other disclosures and risk factors outlined in other
filings
put forth by the Company, which are available on the Commission's
website and via other resources.
About Sugarmade, Inc.
Sugarmade, Inc. (OTCQB:
SGMD) is a product and branding marketing company investing in
operations and technologies with disruptive potential. Our Brand
portfolio includes
CarryOutsupplies.com,
SugarRush™
and Budcars.com. For more information please
reference www.Sugarmade.com.
CarryOutSupplies.com
specialized
in
Sanitary supplies and disposable
take out supplies
for the food service industry,
we are
all about having the assurance of quality products,
competitive
pricing
and reliable customer service.
FORWARD-LOOKING STATEMENTS: This release contains "forward-looking
statements" within the meaning of the safe harbor provisions of the
U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking statements also may be included in other publicly
available documents issued by the Company and in oral statements
made by our officers and representatives from time to time. These
forward-looking statements are intended to provide management's
current expectations or plans for our future operating and
financial performance, based on assumptions currently believed to
be valid. They can be identified by the use of words such as
"anticipate," "intend," "plan," "goal," "seek," "believe,"
"project," "estimate," "expect," "strategy," "future," "likely,"
"may," "should," "would," "could," "will" and other words of
similar meaning in connection with a discussion of future operating
or financial performance. Examples of forward looking statements
include, among others, statements relating to future sales,
earnings, cash flows, results of operations, uses of cash and other
measures of financial performance.
Because forward-looking statements relate to the future, they are
subject to inherent risks, uncertainties and other factors that may
cause the Company's actual results and financial condition to
differ materially from those expressed or implied in the
forward-looking statements. Such risks, uncertainties and other
factors include, among others. such as, but not limited to economic
conditions, changes in the laws or regulations, demand for products
and services of the company, the effects of competition and other
factors that could cause actual results to differ materially from
those projected or represented in the
forward looking
statements.
Any
forward-looking information provided in this release should be
considered with these factors in mind. We assume no obligation to
update any forward-looking statements contained in this
report.
Corporate Contact:
Jimmy
Chan
+1-(888)-982-1628
info@Sugarmade.com