Canafarma is on track to listing its shares for trading in Canada, on the Canadian Stock Exchange. Notes from a recent public interview indicate that the company plans a roll-out of the Yooforic Chewing Gum product heavily in Europe, extending their markets after establishing great success in the US market. Sales for Yooforic totaled $6 million in the final 2 quarters of 2019, and, Vitaly Fargesen in that interview, projected sales to ramp to $40 million-plus in 2020. Fargesen said, “ The US Market is by far the largest, but we have an upcoming roadshow in Europe where we will visit Germany, France and Sweden…we expect this to help us ramp our sales and achieve our objectives.” Cash flow is critical as the company moves closer to listings in Canada, Germany, and Mexico.
Sales for Yooforic have been stellar, and the day to day operation of the affiliate market campaigns are managed by Frank Barone, a longtime veteran of the direct-to-consumer industry, selling energy drinks, male enhancement products and cosmetics, directly to customers in highly successful projects that captured audience and generated solid margins. Barone said, in another interview with journalist Josh Lankford at Market News First Real Talk Podcast, “Hemp infused products put us in a good position with the customer because we have real science behind us. Our customers get a cbd absorption rate of 86% with Yooforic Chewing Gum. Our strategy is to develop a well educated audience that is buying directly from us, cutting out expenses of the middlemen.”
It will be interesting to monitor Canafarma’s reactions to how the recent market volatility will affect sales projections and travel plans in a unique moment where entire markets are affected by the coronavirus pandemic and the potentially negative effects this can have on consumer behavior. Their technology of product sales and delivery promises the most independence available to large-scale companies weaving through epidemic markets.
CanaFarma will certainly be challenged going public in this current environment of coronavirus fears, which will require deft piloting by CEO David Lonsdale, to navigate the unforeseen obstacles in the immediate path to profitability. Especially since they have begun their march to listing on multiple exchanges worldwide, supporting market share, and the upcoming trips to reinforce European expansion is a large piece of the puzzle.