TAAT(TM) Global Alternatives (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP2) is reporting on its second quarter financial report as well as providing key corporate updates. Highlights of the report, which reflects numbers from the three-month period ended April 30, 2022, include 9.7% increase in gross revenue from first quarter to second quarter, with more than 54% of Q2 revenue coming from repeat orders. In addition, the report noted that enhanced production efficiency of the company’s Beyond Tobacco(TM), the base material used in TAAT’s flagship product, has contributed to an increase in the company’s gross margin, which increased from 28.09% in first quarter 2022 to 46.1% in second quarter 2022. According to the report, TOBAF has entered into an agreement to acquire ADCO Distributors Inc. (“ADCO”), an Ohio tobacco distributor, and its TAAT(R) brand name has become a registered trademark in eight global markets, including the United States and the European Union. “Our fiscal Q2 2022 was a pivotal timeframe for the company as we made two key transitions,” said TAAT founder Joe Deighan in the press release. “The first was the acquisition of ADCO, which added integrated distribution to our business model in addition to a steady revenue stream of over CAD $87 million (based on 2021 financial results) to complement our existing sales pipeline of TAAT throughout the United States. The second was rotating TAAT inventory with our wholesale and retail partners to ensure TAAT made with the V3 formulation of Beyond Tobacco is as available as possible across our nationwide footprint. It’s tricky to articulate just how significant V3 is compared to our previous formulations. Consumer feedback from adult smokers who have tried V3 reflects validation of our mission to create an experience that is truly better than their preferred tobacco cigarette brand. This has done wonders for our conversion rates at the point of sale, which is why we elected to take the plunge to voluntarily replace existing inventory with product made using V3. With the added distribution bandwidth resulting from our acquisition of ADCO, we are excited to be carrying on as an integrated player in the USD$812 billion global tobacco category, and are thankful to our loyal base of investors for their continued support.”
To view the full press release, visit https://ibn.fm/kFTxR
About TAAT Global Alternatives Inc.
TAAT develops, manufactures and distributes alternative products in categories to include tobacco, hemp, kratom and other emerging segments of the CPG industry. Its flagship product is a nicotine-free, tobacco-free cigarette with a patent-pending base material formulation, sold in more than 2,700 stores in the United States. TAAT’s facilities include a manufacturing plant in Nevada as well as a distribution center and multiple convenience stores in Ohio; the company reported more than C$80 million in overall net revenue in 2021. For more information about the company, please visit www.TAATGlobal.com.
NOTE TO INVESTORS: The latest news and updates relating to TOBAF are available in the company’s newsroom at https://ibn.fm/TOBAF
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