CANAFARMA HEMP PRODUCTS ANNOUNCES SALES DATA ANALYSIS
CanaFarma Hemp Products Corp. (CSE: CNFA) announced that it has conducted an analysis of its product sales from its first six months of sales activity (from June to November 2019).
Sales of CanaFarma’s first two products, YOOFORIC™ chewing gum and YOOFORIC™ tincture, commenced in June 2019. CanaFarma has completed this review of its first six months of revenues in order to assess its marketing direct response model. The following customer statistics relative to such period have been noted:
- The re-order rate of products by customers in its YOOFORIC™ brand was 68%.
- The daily order count was approximately 300 orders per day, which was in line with budget expectations.
- The cost to acquire customers or Cost Per Acquisition (“CPA”) was 10% lower than had been budgeted.
- The Company’s re-marketing efforts to customers achieved results which were 28% better than projections.
- 65% of customers also chose to try a second product under the YOOFORIC™ brand,
demonstrating a high degree of confidence in our brand equity and credibility.
David Lonsdale, CEO of CanaFarma said, “We are gratified by the response that our customers have shown to our marketing efforts. These results provide us a great deal of confidence in our marketing approach as we look to scale up our marketing and sales efforts in the future.”
In addition to the 187,315,518 CanaFarma Hemp Products (CNFA) common shares that are listed and trading, there are 5,700,000 reserved for conversion rights attached to the Proportionate Voting Shares that are issued and outstanding but not listed on the Canadian Securities Exchange. The total number of issued shares assuming all are converted into the listed class would be 193,015,518. If you do the math multiplied by the last sale at .91 cents – you get the current valuation of $175, 644,121 – which is in line with pre-market valuations set by the company.
CEO David Lonsdale and his team talked about these valuations and market capitalization before the public launch back in February – many analysts were skeptical – but the product rollout and adherence to the internal strategy are paying off for investors. Click here to see the latest Video