The MaryJane Group, Inc. Announces Financial Results for Quarter Ended October 31, 2014
The MaryJane Group, Inc. (MJMJ) announced today its financial results for the three month period ended October 31, 2014. The Company’s revenue of $164,293 and costs of goods sold of $94,152 produced a gross profit of $70,141. The gross profit increased from 23% during the three months ended July 31, 2014 to 43% for the three months ended October 31, 2014 as a direct result of the Company’s elimination of unprofitable businesses and focusing its business model on lodging and entertainment. Revenue for the six months ended October 31, 2014 totaled $277,232.
Joel C. Schneider, President and Chief Executive Officer of The MaryJane Group stated, “We are pleased with our operating results for the quarter ended October 31, 2014. Our revenue increased month over month during the quarter. More importantly, our gross profit continues to increase as a result of the termination of unprofitable business offerings coupled with the increase in revenue at our Bud and Breakfast locations.”
About The MaryJane Group, Inc.
The MaryJane Group, Inc. is the preeminent hospitality group in the marijuana industry. It currently provides cannabis-friendly lodging and events at its two Bud and Breakfast locations. The Mountain Vista Bed and Breakfast is located at 358 Lagoon Lane, Silverthorne, CO. The Adagio Bed and Breakfast is located at 1430 Race Street, Denver, CO. Corporate offices are located at 910 16th Street, Denver, CO 80202. For more information, please visit the Company’s website atwww.maryjanegrp.com or at www.adagiobb.com.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy securities of The MaryJane Group, Inc. Certain statements in this release and other written or oral statements made by or on behalf of the Company are “forward looking statements” within the meaning of the federal securities laws. The forward looking statements are subject to a number of risks and uncertainties including market acceptance of the Company’s services and the Company’s continued access to capital and other risks and uncertainties. The actual results the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. These statements are based on our current expectations and speak only as of the date of such statements. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of future events, new information or otherwise.
Joel C. Schneider, 303-835-8603
President and CEO
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