Taat Global Alternatives CEO Setti Coscarella Reports Fiscal Q2 2021
341Taat Global Alternatives CEO Setti Coscarella Reports Fiscal Q2 2021 - JUNE 30, 2021 - TAAT GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT ”) today announced its financial results for the three months ended April 30, 2021 (“Q2 2021”). Revenue rose more than 300% sequentially over the previous quarter (“Q1 2021”), reflecting a faster-than-anticipated rollout and strong uptake at both the distributor and end-customer levels. All monetary figures in this press release are in Canadian dollars unless stated otherwise. #taat #setticoscarella #richtvlive
During this period, which was the first full quarter in which TAAT was sold at retail, the Company made several key accomplishments to include launching e-commerce to complement retail sales, upgrading its common shares (the “Common Shares”) to the OTCQX Best Market, landing its first major sporting event sponsorship, and obtaining its first mainstream media coverage in Forbes . Furthermore, the Company has already built upon the milestones achieved in Q2 2021 with TAAT now sold in more than 300 Ohio retailers, new store placements in both Illinois as well as Georgia, and an international distribution relationship in the United Kingdom and Ireland.
Q2 2021 Highlights
Revenue was $691,484, representing an increase of approximately 317% compared to revenue of $165,786 in Q1 2021;
The Company rapidly expanded its rollout in Ohio, with approximately 191 stores selling TAAT at the end of Q2 2021, compared to approximately 102 at the end of Q1 2021 (more than 300 Ohio stores sell TAAT as of June 29, 2021);
TAAT launched its e-commerce site on February 17, 2021 with immediate popularity;
A February 3, 2021 Forbes article profiled the Company as its first mainstream media feature;
The Common Shares were upgraded to the OTCQX Best Market on March 23, 2021, with an application to list the Common Shares on the Nasdaq Capital Market announced exactly one month later;
CEO Setti Coscarella delivered a presentation titled “Tobacco Disruptor” at the Global Chinese Financial Forum on April 15, 2021;
The first large-scale consumer research study was conducted on the TAAT brand and product with a sample of smokers aged 21+ in Ohio, Michigan, Illinois, and Pennsylvania, revealing high rates of positive reception and several valuable insights; and
TAAT became the exclusive combustible smoke product sponsor of the Professional Bull Riders (“PBR”) league, a circuit of more than 300 events annually, through 2023.
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