DENVER, Oct. 29, 2014 /PRNewswire/ -- ChineseInvestors.COM (OTCQB 'CIIX') was pleased with its first quarter results in generating a comprehensive profit of $147,501 on revenues of $644,787. This represents a substantial improvement over the first quarter of FY 2014 that saw revenues of $525,011 and a comprehensive loss of ($5,842).
Mr. Warren Wang, Chairman and Chief Executive Officer commented, "I am very pleased with this quarter's earnings. Based upon the current conditions of the general marketplace and interest expressed in our services, we expect to continue to post positive results for this year's performance."
Mr. Brett Roper, Chief Operating Officer commented, "As recently noted, we have spent a good deal of time this past year working with the ownership of Medicine Man Production Corporation in the creation of a new company, Medicine Man Technologies Inc. which holds by license assignment all of the experience and technical intellectual property of Medicine Man Production Denver, a Tier III cannabis industry cultivator/dispensary operator in Colorado. After just three months of operations ending September 2014, this new business has entered into several licensing and consulting agreements with clients in Nevada, Illinois, and Florida. It also has several prospective clients in Nevada, Arizona, Florida, Alaska, and New York noting ChineseInvestors.COM holds a substantial affiliate interest in this new business."
Mr. Brett Roper continued, "Our support for this new business venture includes assistance for the coordination of a public company initiative for Medicine Man Technologies, Inc., noting that company has recently raised capital for this purpose as well as adding additional shareholders to its existing shareholder base in anticipation of this effort." Mr. Roper serves as the Licensing Services Director and as an officer of Medicine Man Technologies, Inc.
Please note that "CIIX' has a fiscal year starting on June 1 and ending on May 31.
ChineseInvestors.COM, Inc. (CIIX), founded in 1999 became a public company in early 2011 and endeavors to maintain its innovative stance by providing (a) real-time market commentary, analysis, and educational related services related to the various equity and globally positioned markets in Chinese language character sets (traditional and simplified), (b) delivery of support and back of the house related services to our various partners, (c) consultative services to smaller private companies considering their public company options, (d) advertising and public company related support services (IR Lite), (e) participating in the formation and initial launch of Medicine Man Technologies, a successful consulting and licensing business venture in the cannabis industry space, and (f) other services we may identify having the potential to create value or partnership opportunity that blend efficiently with our existing skills and services. Our subscriber base (free and pay member) is primarily located in the US and Canada (95%) noting these services as described are generally delivered to US public and private companies as well as US residents and citizens.
For further CIIX information please contact us at info@chinesefn.com or visit our website at (www.chinesefn.com).
Medicine Man Technologies Inc., was officially established in April of 2014 as a Nevada C Corporation after a substantial predevelopment period as a joint venture to become a consultant and service provider within the cannabis industry. It provides general business advisory services as well as licensing of certain technologies related to Medicine Man Production Corporation's experience and intellectual property as developed over its many years in this unique industry channel. Its primary value proposition is based upon providing 1) general startup assistance (consulting or licensing) to those wishing to enter into the business within states having legalized usage provisions, 2) pre-operating status training assistance utilizing our highly efficient, risk averse variable capacity constant harvest cultivation process and existing dispensary operations through licensure, 3) support for the general application process within states having legalized usage provisions, 4) continued support and training for our clients through ongoing licensing protocols offering technology participation aggregation as well as certain geographic protections related to our future consulting and license offerings, and 5) general consulting or second opinion services related to investment or other forms of participation within the cannabis or related industry space.
For further Medicine Man Technologies information please contact us at licensing@medicinemandenver.com.
Safe Harbor Statement
This press release may contain forward looking statements which are based on current expectations, forecasts, and assumptions that involve risks as well as uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues as well as any payment of dividends on our common and preferred stock, statements related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC). Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in our filings with the Securities and Exchange Commission. Among other matters, the Company may not be able to sustain growth or achieve profitability. Reference is hereby made to cautionary statements set forth in the Company's most recent reports on Form 10-K, 10-Q, 8-K, and other SEC filings. In addition, the information contained in this press release is subject to the risk factors identified in the Company's most recent Form 10-K filing and others that may not be known to the Company as of the date of this filing. We have incurred and will continue to incur significant expenses in our expansion of our existing as well as new service lines noting there is no assurance that we will generate enough revenues to offset those costs, even in light of our recent profitability and growth of the business. Additional service and support offerings and the subsequent participation in such as noted herein may expose us to additional legal and regulatory costs and unknown exposure(s); particularly in the cannabis industry space related to our recent support and equity position taken in Medicine Man Technologies, Inc., a Nevada C Corporation and as based upon the various geopolitical environments we will be providing services in, the impact of which cannot be predicted at this time. We also note that that all activities related to cannabis production and consumption are currently illegal under the laws of the United States of America although certain states within the United States of America have legalized certain provisions for medical as well as recreational use.
SOURCE ChineseInvestors.COM
