COLORADO SPRINGS, Colo., May 6, 2010 (GLOBE NEWSWIRE) -- GT Legend Automotive Holdings, Inc. (Pink Sheets:GTLA - News) in conjunction with Compassionate Therapeutic Solutions, LLC, released a statement today discussing its profit projections.
The company has opened a licensed grow facility, thus reducing product costs and doubling profit margins. Now, instead of generating revenues of $75,000 per month, each location can bring in $150,000 per month, totaling $1,800,000 per year per center.
According to an article posted on CNBC.com, CNBC estimates that the marijuana industry is a $40 billion a year market (Source: http://classic.cnbc.com/id/36331495). The state of Colorado receives over 1,000 applications per day for authorized marijuana permit cards, yielding $90,000 per day in revenue from the registration fees (Source: Green Rights Radio 101.5, Denver).
Eugene Espinosa, President of GTLA, states, "Medical marijuana sells for around $420.00 per ounce, and the average patient's purchase is two ounces of product per month. Since we're utilizing our independent, licensed grow facility, we are able to increase our profit margin by approximately $100.00 per ounce of product, leading to amplified revenues."
About Compassionate Therapeutic Solutions, LLC: Compassionate Therapeutic Solutions, LLC is a multidisciplinary behavioral health care practice that offers mental health, substance abuse and primary caregiver services to communities of Colorado. The company's focus is to provide cost-effective quality treatment and to create, promote, and maintain a positive customer relationship with clients, associates and the community. One of the functions of the clinic is to provide comprehensive care to individuals who are registered and authorized to utilize medical marijuana. Please visit our website at www.ctscare.org for more information.
Forward Looking Statements: This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The Company's actual results could differ materially from expected results.
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