 Hey guys, this is Rich from RichTVLive and I had to bring you this video. Charlotte's Web CBD sales grew 57% to 17.7 million in Q3. This is a company that I brought to you guys first, told you guys it was going to be a leader in the CBD space and a huge player in America and they have been nothing short of a monster. Q3 revenue of 17.7 million on 57% year-over-year growth, year-to-date revenue reaches 48 million with a 34% adjusted EBITDA. Charlotte's Web CWEB in Canada and CWBHF in America, the market share leader in hemp-based CBD wellness products, today reported financial results for the third quarter and nine months ended September 30, 2018. All amounts are expressed in US state's dollars, certain metrics including those expressed on an adjusted basis are non IFRS measures. Highlights of third quarter 2018 results versus third quarter 2017 results. Organic revenue grew of 57% to 17.7 million gross profit before biological assets adjustments increased 54% to 13.8 million or 78% of consolidated revenue. Adjusted EBITDA increased 23% to 5.4 million or 31% of consolidated revenue. Significant marketing investments made in brand relaunch to be leveraged throughout 2019 completed initial public offering generating net proceeds of 71.5 million. Highlights of nine months 2018 results versus nine months 2017 results. Organic revenue grew of growth of 75% to 48 million gross profits before biological assets adjustments increased 80% to 37.1 million or 77% of consolidated revenue. Adjusted EBITDA increased 71% to 16.2 million or 34% of consolidated revenue. During the third quarter we completed a successful initial public offering and private placement that generated significant capital for the company that is being deployed to accelerate our growth in the hemp-derived CBD sector. This company is being used primarily to expand the company's cultivation and production capacities to meet the increased demand for our industry-leading Charlotte's web products both domestically and internationally. Hess Molallum, president and chief executive officer. Charlotte's web is the market leader in the rapidly expanding hemp-derived CBD wellness markets. Love the CBD space and we are committed to the highest quality products and efficiency. Our future product expansion plans will continue to support the stringent demands and expectations of our valuable customers. Mr. Molallum added a successful passing of the forthcoming 2018 Farm Bill by the US Congress will be a catalyst for the growth in our industry adding further momentum to the evolving market sector. We have contributed to and supported this important legislation from the beginning for the positive impact it will have on consumer access for both hemp-based CBD products and for our valuable farming communities throughout the country. Product portfolio sales increased year over year during the quarter with human nutrition products and animal nutrition products growing by 42% and 153% respectively with the pet line growing from a smaller base as it was just launched in February of last year, said Mr. Molallum. In general, broader consumer awareness of the benefits of cannabinoids namely cannabinoidial CBD and whole plant hemp extract is driving the increased uptake in both our retail channels and within our e-commerce platform. Primarily available in natural health stores throughout the United States, the company recently surpassed 3,000 retail locations during the quarter after the first a major drugstore chain began carrying Charlotte's web products in the Northwest US. Consumer education is driving demand through ever larger retail chains illustrating the widening mainstream awareness and demand for Charlotte's webs products. The company continues to expand its market leading product line adding two new products in September a maximum strength hemp extract oil and a CBD isolate oil. The maximum strength hemp extract product is a 100% CO2 extracted formulation containing the highest level of CBD in the company's product line to support overall health and wellness. The company's new CBD isolate product a formulation that contains no more than 13 parts per million THC gives Charlotte's web users the ability to add more CBD to their existing full spectrum routine without increasing intake of other cannabinoids if desired. These products are just the beginning of the company's expanding product portfolio as new products will continue to be introduced demonstrating the company's leadership in the market. Additional products are under the development where CBD can be incorporated into lifestyle products such as beverages, animal nutrition and other wellness related products. Love this company your boy Rich is heavily involved in the CBD space you guys can take a look at PrairiePure.ca that is our CBD company but CBDs are not legal in Canada which is causing a lot of problems for us they are legal in America thank you Health Canada and they are legal in Europe and we are not in either market because we don't live there now that doesn't mean that we won't be there we are actually shipping products to Europe right now so we will be where we need to be to be a CBD player Charlotte's web if you're looking for a CBD partner consider your boy Rich holler at your boy we love to have you on our show and we love to work with you because we believe in the power of CBDs revenue for the quarter ended September 30 2018 Q3 2018 totaled 17.7 million compared to 11.3 million for the same period in 2017 representing a 57% increase on a year over year basis for Q3 2018 e-commerce revenue grew by 37% and wholesale distributor and retail revenue grew by 118% revenue from human nutrition products and animal nutrition products grew by 42% and 153% respectively the company's canine products were introduced in February of 2017 revenue for the year to date period ended September 30 2018 year to date 2018 totaled 48 million that is exponential growth compared to 27.5 million for the same period in 2017 representing a 75% increase on a year over year basis I mean these companies just keep growing they keep getting bigger and better I don't care about the share price I care about these companies growing and the reality is this industry is booming and it's going to continue to boom all you got to do is keep reading these financials these companies keep growing they're getting bigger and bigger quarter after quarter year after year and they will continue to balance sheet and cash flow the company used 4.6 million of cash in operations during the third quarter 2018 compared to 2.5 million of cash provided from operations during the third quarter of 2017 the reduction of cash flows from operations primarily reflects the investment in inventory associated with the 2018 hemp crop and other raw materials used in the production process in anticipation of materially increasing revenue opportunities the company's cash as of September 30 2018 was 79.4 million compared to 7.1 million in September 30 2017 that's 10x working capital as of September 30 2018 was 90.2 million do you not see the growth here is this not impressive for you guys this is impressive for me they held a conference call today we missed the conference call but we did not miss the news because your boy rich is all over the news and we will continue to bring you the news 24 hours a day seven days a week we are number one in this industry and we will continue to be number one at bringing you the news first shardless webs holding ink is the market leader in the production and distribution of innovative hemp based cannabinoideal it's true cbd wellness products founded by the stanley brothers the company's premium quality products start with preparatory hemp genetics that are responsibly manufactured into whole plant hemp extracts naturally containing a full spectrum of photo cannabinoids including cbd terpenes flavonoids and other beneficial hemp compounds industrial hemp products are non-intoxicating charlotte's webs current product categories include tinctures liquid products capsules topical as well as pet products which is huge pets need cbds too you can feed your dogs cbds charlotte's web hemp based whole plant extracts are sold through select distributors brick and mortar retailers and online through the company's website at cwhemp.com the rate the company pays for agricultural products reflects a fair and sustainable rate driving higher quality yield encouraging food farming practices and supporting us farming communities charlotte's web is a socially conscious company and is committed to using business as a force for good and a catalyst for innovation the company weighs sound business decisions with considerations for how its efforts affect its employees customers and environment the environment and the communities where its employees live and where it does business while maximizing profits and strengthening its brands the company's management believes that socially oriented actions have a positive impact on the company its employees and its shareholders charlotte's web donates a portion of its pre-tax earnings to charitable organizations wow i love this company they just they just keep growing on me and growing on me now they're helping charities helping pets i love it shares of charlotte's web trade on the canadian security exchange under the symbol cweb and the united states under the otcqx under the symbol cwb hf charlotte's web has 17 247 246 common shares outstanding and 188 816.57 proportionate voting shares convertible at 400 to 1 for an effective equivalent of 92 773 474 common shares outstanding which is a very small number if you compare it to canopy growth aurora cannabis and some of the other bigger players that exist in the marketplace this is a company that you need to put on full alert you need to put it on your watch list you need to put it on your radar cbd's are the future and your boy rich is all over the cbd space and i would love to work with charlotte's web they are number one they've always been number one and charlotte's web if you're listening to this if you're watching this holler at your boy we would love to work with you in one capacity or another and help you take your brand global because you should be global because you are number one and you deserve to be everywhere it's true what do you think about this remember rich tv live is strictly for education entertainment purposes always do you do diligence always do your research before you invest in anything that we talk about here rich to be live if you're not winning you're clearly not watching charlotte's web is a beast i love this company let's just quickly take a look at its price and we're going to go to bar chart and we're just going to quickly look at cweb cweb we're just going to look at the canadian one real quick because i like the symbol cweb and we'll pop up right here charlotte's web holdings and we're going to look at it on bar chart okay so on bar chart you can see that it is up it is uh was up three percent today which is good and you can see that over the last six months it has been as high as so it's been a little bit higher you can see it's been as high as 18 dollars and 70 cents and it's currently at 15 and it's up 46 percent since it's IPO it IPO'd at $10 and 56 cents on october 30th okay it's been not even a month in that last month it's up 46 percent it's been as high as 18 70 it's currently at $15 and 49 cents i think this company has so much potential i'd love to know what you guys think what do you think about charlotte's web holdings ink do you think it's a big winner you think it's got huge upside you think it's overpriced think it's gonna go back to 10 bucks think we're gonna see it at 20 what do you think i'd love to know comment down below remember if i win and you win we all win it's true and you're boy rich i ain't going nowhere i'm here to bring you guys the news in the cannabis sector every single day in the cbd space in the cannabis space i'm me going to be bringing you ceo's i'm going to be doing tours of facilities i'm going to be bringing you the news i'm going to be bringing you picks that i'm investing in i haven't bought this pick yet a lot of my members in my community have congratulations to everyone who has won on this company but i don't think this is done i think this is just the beginning and this is a company that will become eventually a global powerhouse and you heard it here first from your boy rich i brought it to you pre-ipo i brought it to you after the ipo and i'm going to continue to bring it to you because they just grew by 57 percent it's true this is your boy rich if you're not winning you're definitely not watching i'm out peace