ML Capital Group’s Retail Store Slated to Open October
September 11th, 2014
News, Top Story
ML Capital Group Inc. [stockquote symbol=MLCG], developer of products and services that support the medical marijuana industry, recently announced that it would open a physical retail store to sell its SuperStar product line. The store is expected to open on October 1, 2014 to the public featuring SuperStar products including vapor pens, hookah pens, accessories, and more.
“We believe demand for our products calls for a retail location in this area,” said ML Capital Group Inc. CEO Lisa Nelson. “Since the store shares space with our headquarters, we can simultaneously increase the marketing exposure for our products and truly understand what products are requested or selling the most in this industry. We are extremely excited about the new store opening.”
Management expects the new retail location to increase in revenue and profit, which could see a sizable increase over the coming quarters. Earlier this month, the company announced that it received new orders for over 1,000 SuperStar Vapor Pens after attending a recent Las Vegas tradeshow, increasing its web advertising, and adding new representatives to help sell its products.
These revenues should start appearing in the company’s upcoming quarterly financial results, while the revenue from its retail location could appear in financial results during the fourth quarter of this year or early next year. Increased revenue could help set the company apart from many other development-stage companies in the space that haven’t begun generating meaningful revenue yet.
Shares of ML Capital Group Inc. fell more than 8% on Thursday, September 11, 2014 following the news release.
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