Greene Concepts Inc. (OTC:INKW) Stock Gains Momentum: Here is Why
As another trading week begins, it may be time for investors to consider those stocks to follow, which may have come into focus this past Friday. One of the companies that came into the news cycle this past Friday following an announcement was Greene Concepts Inc. (OTC:INKW). The company announced that it had managed to record a considerable increase in sales to the tune of as much as 233%, as per its latest annual report.
The annual report from the company covered a twelve-month period that ended on July 31, 2023. It had also been displayed on the company’s OTC Markets Filings and Disclosure Page. The company announced that in the period that ended on July 31, 2023, it generated sales of $719732, which was 233% higher than the sales of $308121 that were generated in the year that ended on July 31, 2022. However, that was not all. It was also noted that the company had inventory worth $325750 to go along with total assets of $5498020 at the end of the period. The Chief Executive Officer of Greene Concepts, Lenny Greene, spoke about the development as well.
He noted that the latest annual report provided a snapshot of the ‘incredible’ interest in its products, especially BE WATER, the company’s flagship product, the Artesian bottled water brand. He stated that the higher distribution and retail access for the product had been the reasons there had been such a boost to the company’s sales in the period under question. He also noted that the company had previously announced in a news release that it continued to make preparations for the distribution of BE Water at a national level.
However, he also stated that while everyone at the company was highly pleased with the rise in sales numbers, the company wanted to generate even higher figures. He noted that the company was in a position to achieve ‘incredible success’ in the next year owing to the expansion in its distribution and retail channels. He urged shareholders and other interested parties to keep an eye on developments with regards to Greene Concepts in the next 12 months.
On September 21, the company announced that its BE WATER brand and its Happy Mellow CBD immune support brand had received approval to be sold in the Walmart Marketplace. The Walmart Marketplace is one of the fastest-growing e-commerce platforms in the United States. At the time, the company announced that the platform recorded 120 million Walmart.com visitors on a monthly basis.
It was a significant development for the company since Walmart Marketplace would provide an online platform on which consumers from all across the United States could congregate. They would then be able to learn about and locate the two Green Concepts products. Additionally, it would also provide the company with the option of capturing higher sales and buzz by way of sponsored search advertising. The platform would provide the company with scale, efficiency, and quality so as to grow as a major business on Walmart.com.
