2022 Revenue for Farmersville Hemp Brand Expected to Hit $1 Million
Puration, Inc. is initially forecasting $1 million in revenue for 2022. Management believes the forecast is conservative and anticipates potentially revisiting the revenue forecast more than once next year.
CEO Brian Shibley last week published an update outlining three target sources of revenue. The letter has been republished below in its entirety:
Dear Shareholders –
We have just entered the fourth quarter of 2021 which we expect to be a pivotal period catapulting the company’s new Farmersville Hemp Brand into 2022 to begin generating and rapidly growing revenue.
Yes, Covid hindered our transition, but it didn’t stop it and we are confident the Covid hurdles are now behind us.
Central to our Farmersville Hemp Brand strategy is the Farmersville property we acquired and are now developing.
We acquired the property from UC Asset LP (OTCQX: UCASU) one year ago and inspired by our plan, UCASU has now joined PURA as a partner to provide real estate financing to PURA’s Farmersville Hemp Brand partners in addition to financing the construction of PURA’s Farmersville facility.
The Farmersville facility will operate as a university where we intend to provide education on the potential of industrial hemp to enhance and improve existing operations of a myriad of existing companies.
But I’m getting a little ahead of myself, let me back up and start with an overview of our business plan getting ready to go into action in Q1 2022 after much transition work and one or two Covid hurdles.
PURA plans to generate income from three sources: Education, Branding and Partnerships.
PURA, under the Farmersville Hemp Brand, will target prospective client companies that could use industrial hemp to improve existing operations and products. PURA will provide a multi-day fee-based service on sight at their Farmersville facility to conduct general and custom education and consulting services to guide clients toward the integration of hemp into their operations and products.
PURA expects the existing market wide sustainability trend to provide a tailwind to this education and consulting service. The Green Technology and Sustainability Market is expected to expand from $9 billion reported in 2021 to over $41 billion by 2028. The World Economic Forum publish a report at Davos identifying $12 trillion in economic opportunities from implementing the UN Sustainable Development Goals.
While the facility construction will not be complete in Q1 of 2022, PURA will initially conduct training at an alternative site.
PURA’s ultimate goal is to build a co-op of hemp growers and processors under the Farmersville Hemp Brand that can provide industrial hemp products and services to existing corporations that can enhance and improve their own operations and products with the adoption and integration of hemp.
Farmersville Hemp, similar to the way that Sun-Maid Raisins collectively markets for growers all selling under one brand name, intends to generate revenue by selling for hemp growers and processors under the Farmersville Hemp Brand.
PURA expects to generate revenue through select strategic partnerships, some of which are already established and disclosed on PURA’s financial statement.
PURA has acquired a 5% interest in Alkame Holdings, Inc. (OTC Pink: ALKM) an innovative copacker that has developed a standout expertise in the packaging of hemp extract infused consumable products. PURA expects the partnership with Alkame to be strategic to the development of the Farmersville Brand as Alkame provides key services to Farmersville Brand co-op participants.
PURA has also made a $1 million strategic investment through a limited partnership in a company providing cannabis growing supplies. Again, PURA expects the partnership to be strategic to the development of the Farmersville Brand.
In both instances, PURA expects the partnerships not only to be strategic to the development of the Farmersville Brand, but also to present opportunities for PURA’s investment in the partnerships to be monetized with potentially substantial ROIs.
Now, with the overview of PURA’s three anticipate revenue sources, I believe the Farmersville property and facility as a cornerstone make more sense.
The transaction has admittedly taken longer than anticipated, but we are now there. Q4 is a pivotal period, and 2022 will see the start of revenue and rapid growth under the new Farmersville Hemp Brand business model.
Q4 will be a busy time, stay tuned for updates.
For more information on Puration, visit www.purationinc.com.