DOVER, DE / ACCESSWIRE / July 11, 2023 / International Star Inc. (OTC PINK:ILST), a pioneering leader in integrating the entertainment and cannabis industries, recorded record-breaking sales results in the second quarter of 2023.
In the period, ILST's-royalty eligible sales exceeded US $1,400,000.
The results represent significant growth across IP sectors, emphasizing ILST's strong positioning within the competitive global cannabis market. They also reflect the growing success of International Star's unique business model, which grants exclusive Joint Ventures to use globally recognized entertainment properties in developing and marketing its product lines.
These properties include exclusive Joint Ventures for the accessory market of iconic brands such as Cheech & Chong's Up In Smoke™ and Trailer Park Boys™. Through a strategic partnership with acclaimed director Kevin Smith, ILST has developed a line of cannabis accessories under the universally beloved Jay & Silent Bob™ brand.
"These financial results reflect our dedication to the principles of innovation, collaboration, and robust business practices," commented Dan Rubin, CEO of Budding Equity, the operational arm of International Star Inc.
"Our strategic partnerships, combined with the unique fusion of pop culture and cannabis products, have allowed us to capture a wide and diverse consumer base. The results of this quarter are a testament to our growth potential and fortitude in the ever-expanding cannabis market," he said.
Q2 Financial Highlights
Oklahoma, the most robust performing market, had reported royalty-generating sales exceeding US $500,000. The figure underscores the region's pivotal role in ILST's domestic market strategy.
In Arizona, another integral part of ILST's market portfolio, royalty-generating sales amounted to approximately US $200,000. The performance in this state represents the company's ability to cater to diverse regional preferences.
New Mexico, the newest state for sales, and California, both vital territories in ILST's strategic market footprint, reported royalty-generating sales of more than US $70,000 and US $435,000, respectively. These figures provide evidence of ILST's expanding influence across the American cannabis market.
ILST reported royalty-generating sales of approximately US $115,000 in Michigan, reinforcing the company's reach.
Outside the US market, in Canada, royalty-generating sales reached approximately US $70,000.
The royalty-generating sales resulted in second-quarter royalty revenues of approximately US $150,000.
Sales Highlights
ILST's wide range of cannabis products has garnered significant market traction.
The Cavi Cones line, featuring products such as "Good Day Kush" and "Fryday Kush" from our exclusive JV with Ice Cube, registered substantial sales in Oklahoma. The demand for these products reflects the influence of our entertainment properties on product preference.
In Arizona, products like "Ice Cube's Good Day Kush" and "Ice Cube's Fryday Kush" were top sellers, highlighting the success of our innovative fusion of pop culture and cannabis.
Going forward, ILST is dedicated to meeting the rising demand for cannabis and cannabis-related products and intends to fully leverage the power of our globally celebrated entertainment properties for sustainable market growth.
The company operates through Budding Equity, a company it acquired in early 2023.
Budding Equity is the brainchild of Dan Rubin, a visionary with a keen eye for emerging markets and a deft hand at stimulating corporate growth. Rubin's expertise, honed by his experiences in the financial management sector, where he successfully raised over $9 billion in assets, has been instrumental in shaping Budding Equity's revolutionary presence in the cannabis industry.
Budding Equity has effectively bridged the gap between cannabis, entertainment, and consumer products, blending these distinct realms in an unprecedented manner. Through strategic partnerships with world-renowned celebrities and high-profile brands, Budding Equity has innovated the process of producing and marketing cannabis accessories, effectively reshaping the landscape of the cannabis industry.
The acquisition of Budding Equity has also brought a thrilling pipeline of future projects. For instance, there's the partnership with the creators of the movie "All My Friends Are Dead," aimed at creating cannabis products and accessories that capture the cultural zeitgeist. The ever-growing list of new projects promises an exciting future for ILST and Budding Equity.
Forward-Looking Statements
This press release contains "forward-looking statements." Words such as "may," "should," "could," "would," "predicts," "potential," "continue," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," and similar expressions, as well as statements in the future tense, often signify forward-looking statements. These forward-looking statements are, by their nature, subject to significant risks and uncertainties.
Forward-looking statements should not be read as a guarantee of future performance or results and may not be accurate indications of when such performance or results will be achieved. Forward-looking statements are based on information that the Company has when those statements are made or management's good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements, including factors beyond the Company's control. As a result of these and other risks, uncertainties, and assumptions, forward-looking events and circumstances discussed herein might not occur in the way the Company expects or at all. Accordingly, readers should not place reliance on any forward-looking information or statements. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events, or otherwise. All forward-looking statements herein are qualified by reference to the cautionary statements set forth in this section.
Contact:
International Star, Inc.
8 The Green
Suite 13940
Dover, DE 19901
E-mail: [email protected]
SOURCE: International Star, Inc.