Branded Legacy, Inc. (OTCQB: BLEG) had some significant financial success this September and saw a 1,000 per cent increase in its revenue, primarily attributable to recent business moves.
The company generated over US$75,000 in revenue last month and it primarily credits that achievement to its acquisitions of Alpha Growers, a company operating under Kamino Propagation and Research, LLC; and Magic 1 Promotions, a Florida solar and water purification company in its infancy stages.
Company Has Highest Month of Revenues to Date$BLEG pic.twitter.com/q67VY7vcLf
— Branded Legacy, Inc. $BLEG (@BrandedLegacy) October 11, 2022
Alpha Growers had US$320,000 in assets when it was acquired by Branded Legacy and the company acquired Magic 1 Promotions under its Versatile Industries subsidiary in order to bring Magic public before spinning it off into its own entity.
“We had previously announced our plans with Versatile Industries as an incubator to bring companies public and spin them off into their own entities. These new entities would result in dividends paid out to our shareholders,” said Brandon Spikes, chairman of Branded Legacy in September.
“We are grateful now to be in the clean energy space and we believe this acquisition is a huge value add to Branded Legacy and its shareholders.”
Branded Legacy says that its most recent acquisition of Alpha Growers will help the company become fully vertically integrated within the industry and that its revenue will be disclosed by the company in Q4. The company is currently in the process of finalizing its numbers for Q3.
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“We are going to continue to acquire companies as part of our business model. We all are very happy with the growth we have been seeing and looking forward to finalizing our next acquisition of an extraction company,” said Spikes.
The company also says it has reduced the number of its authorized common shares to 600 million after receiving majority shareholder consent and board approval for the reduction.
