Kaya Reports Unaudited Revenue Of $741K For First Four Months Of 2022, Positive Adjusted EBIDTA For April

NUGL Inc.’s NUGL Kaya Group posted preliminary revenues of $741,003 for the first four months of 2022.

For the first four months of Fiscal 2022, which include January through April, Kaya, Inc. had unaudited revenues of $741,003 and adjusted EBITDA of -$104,275 For the month of April, Kaya had unaudited revenues of $215,341.00 and positive adjusted EBITDA of $47,534. Moving forward, the company plans to increase revenues by opening new markets for its cannabis brand. The combined NUGL and Kaya are currently working with a PCAOB auditor to provide audited financial statements, which will be filed on the SEC EDGAR system.

Bali Vaswani, CEO of NUGL and founder of Kaya, commented, "We are very pleased with the revenues we achieved and the progress we are making building the Kaya brand. Kaya is synonymous with quality, and we plan to tap into the network NUGL has built over the years to expand into new markets. We ramped up quickly after slowing down during Covid, and we owe a tremendous amount of gratitude to the extra hours of hard work our Kaya team put in to make it possible. Our employees and our customers are truly our greatest asset."

Since being granted this valuable license by the Government of Jamaica, the Kaya team has been able to examine the effects of growing and testing a variety of strains containing high CBD and low THC. The Kaya team has also cultivated strains with high THC levels organically, while analyzing costs under three different growing conditions; outdoor, greenhouse and indoor cultivation. Kaya continues to compile data through batch testing of flower, extracts and topicals with Steep Hills Lab at the Department of Health and Sciences at UTech, and Caritox at University of the West Indies.

CJ Melone, COO of NUGL, stated, “Bali and his Kaya team have exceeded the expectations we had for the first four months of fiscal 2022. Kaya is off to an impressive start as we merge our companies together. We look forward to continuing to support their rapid growth in 2022 and beyond, as we build the Kaya brand. The synergy between our two companies is compelling, and we are very enthusiastic about the future direction of the combined company."

Photo: Courtesy of Shelby Ireland on Unsplash

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