In January, OSL Holdings Inc (OTCMKTS:OSLH) released a letter to shareholders from company’s CEO Robert Rothenberg. He stated that the progress that company made in FY2014 and 1Q2105 will solidify business and financial foundation. The advisory and management team continues to effectuate its objective and accretive acquisition and growth plans evident by acquisition of Go Green Hydroponics Inc.
Last October, OSL Holdings announced that it bought Go Green Hydroponics in a deal valued at $1.9 million with about $550,000 of inventory on hand. The acquired company posted revenues of $3.45 million of gross sales in FY2014, a jump of 96% in gross sales compared to FY2013. The company anticipated gross sales to reach close to $4.5 million in FY2015. At a growth rate of 30% YOY with anticipated gross profit margins of 25% to 30%, the company’s team is excited for FY2015.
In October 2014, OSL Holdings next gen comprehensive Ad supported B2C & B2B legal Cannabis marketplace app and website. The company finished Phase one of the development process and will move forward with Phase 2 with a target completion date of 2Q2015. In November, OSL Holdings Advisory Board was launched with three members David Marshall Grant, Molly Newman and David Zucker.
OSL Holdings Inc (OTCMKTS:OSLH) continue to work on an information repository solution and on-line cross platform ‘social network’ that will allow hydroponic hardening supply retailers and legal pot dispensaries to manage lead generation, marketing and retail discovery. It is expected to translate into an ad supported app and website that will expand the reach of Go Green Hydroponics retail functions. It will allow hyper local search with latest querying features. It is expected to be launched in 2Q2015. These initiatives will help the company to achieve growth in customer base and partner base, resulting in higher revenues in FY2015.