Trade Upexi Inc. - UPXI CFD

Trade Upexi Inc. - UPXI CFD

About Grove Inc

Grove, Inc. is engaged in developing, producing, marketing and selling raw materials, white label products and end-consumer products containing the industrial hemp plant extract, Cannabidiol (CBD). The Company primarily conducts its business operations through its wholly-owned subsidiaries: Steam Distribution, LLC,One Hit Wonder, Inc., Havz, LLC, doing business as, Steam Wholesale, One Hit Wonder Holdings, LLC, SWCH LLC, Trunano Labs, Inc., Infusionz, LLC and Cresco Management, LLC. Its segments include products and trade shows. The Company's product sales are organized into three channels of distribution: Grove, Inc. branded products, manufacturing of products to be sold under customers brands and white label products that are sold under customer brands. The Company, through one of the wholly owned subsidiaries, produces primarily business-to-business CBD-related trade shows in the United States. It sells to numerous consumer markets, including botanical, beauty care and pet care.

Financial summary

BRIEF: For the six months ended 31 December 2021, Grove Inc revenues increased from $7.1M to $19.1M. Net income totaled $577K vs. loss of $707K. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Net Income reflects Interest Expense/Income - Net decrease of 50% to $43K (expense), Loss on sale of assets decrease from $6K (expense) to $0K.