Sugarmade, Inc.
sugarmade.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q2 FY2023 10-Q, filed Feb 21, 2023. Its latest SEC filing is a 8-K from Oct 19, 2023.
10-Q for Q2 FY2023, filed Feb 21, 2023
The sections below describe the company as of the FY2022 annual report.
What Did They Do?
Supplies disposable food-service products to quick-service restaurants and imports and distributes non-medical personal protection equipment to businesses and consumers.
10-K for FY2022, filed Jan 13, 2023Paper and paper-based products: The supply of disposable products to the quick-service restaurant sub-sector of the restaurant industry…View ↗
How Did They Make Money?
Sugarmade sells products and receives payment in advance, upon delivery, or after delivery under credit terms; customer deposits are applied when the products are delivered.
10-K for FY2022, filed Jan 13, 2023Substantially all of the Company’s revenue is recognized at the point in time that control of the products is transferred to the customer.…View ↗
$2.8M
-
10-K for FY2022, filed Jan 14, 2023
$2.8M ↗
Who Were Their Customers?
Carry Out Supplies wholesales custom-printed and generic products; it has serviced more than 3,000 quick-service restaurants since inception.
10-K for FY2022, filed Jan 13, 2023Paper and paper-based products: The supply of disposable products to the quick-service restaurant sub-sector of the restaurant industry…View ↗
Did Revenues Turn Into Profits?
No. It lost $11.1M in FY2022.
10-K for FY2022, filed Jan 14, 2023
−$5.2MView ↗
10-K for FY2022, filed Jan 14, 2023
−$11.1MView ↗
10-K for FY2022, filed Jan 14, 2023
−$4.8MView ↗
How Were They Changing?
- Net income
-
Sources
10-Q for Q2 FY2023, filed Feb 22, 2023
−$4.2MView ↗
- ▲ +48% (Loss)
- vs −$2.9M in Q2 FY2022
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Feb 23, 2023
Proposed acquisition of two real estate entities
The proposed $70,000,000 purchase price combines cash, assumed mortgages and equity.
Sources
8-K, filed Feb 23, 2023
The purchase price of the two entities would aggregate to $70,000,000, payable in cash, the assumption of existing mortgages and issuance…View ↗
Business focus
The older report describes selling hydroponic cultivation equipment through e-commerce portals. The latest report describes reducing investment in cannabis retail and pivoting toward cannabis real estate, cultivation and wholesale.
10-K for FY2019, filed Oct 15, 2019 10-K for FY2022, filed Jan 13, 2023Our primary business is the supply of hydroponic cultivation equipment, and related products, through our e-commerce portals. Our websites…View ↗
Cannabis products delivery services: Following the end of the COVID cannabis delivery boom, along with a challenging cannabis retail…View ↗
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