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Corporation
AGRICULTURE | Agricultural products & related activities
socati.com

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Stage

Acquired | Acquired

Total Raised

$42M

Valuation

$0000 

About Socati

Socati specializes in the development of hemp genetics, cannabinoid science, and purification technology to unlock the power of hemp-derived cannabinoids and terpenes – the natural building blocks for safe, consistent, and efficacious products.On March 24th, 2021, Socati was acquired by YOOMA at a valuation of $25M.

Socati Headquarter Location

612 Brazos St

Austin, Texas, 78746,

United States

206-382-1900

Latest Socati News

Yooma Wellness Reports Results for Third Quarter of 2021

Nov 30, 2021

Significant Growth and Operational Progress Achieved in the Third Quarter November 29, 2021 17:25 ET Toronto, CANADA TORONTO, Nov. 29, 2021 (GLOBE NEWSWIRE) -- Yooma Wellness Inc. ("Yooma" or the "Company") (CSE: YOOM, AQSE:YOOM), a Toronto-based vertically-integrated global wellness platform that develops and markets a portfolio of wellness brands, today released its interim financial statements (the "Financial Statements") for the three-month period ended September 30, 2021 (the "Reporting Period"). A summary of Yooma's operational and financial highlights during the Reporting Period are set out below and more detailed information is contained in the Financial Statements and related Management Discussion and Analysis which are available on Yooma's SEDAR page at www.sedar.com . Lorne Abony, Chairman at Yooma, commented: “Yooma’s success in the third quarter solidly-positions the Company in the global CBD and wellness space. Based on actual revenue achieved in the third quarter of US$2.1 million, with only partial revenue contribution so far from key strategic acquisitions acquired during the quarter and subsequent to quarter-end, we believe that Yooma is significantly undervalued compared to its public competitors.” Jordan Greenberg, CEO at Yooma, added: “We are extremely pleased with the progress Yooma made in the third quarter, including the dual listing of the Company’s shares on the AQSE exchange in London, successful completion of a US$10.3 million capital raise, and the closing of two additional strategic acquisitions. We continue to integrate our existing assets to achieve both operational synergies and revenue growth.” Yooma Highlights (Q3 2021) Yooma continues to grow in its quest to become a vertically-integrated global leader in the marketing, distribution and sale of wellness products, including hemp seed oil and hemp-derived cannabinoid ("CBD") ingredients. Significant operational highlights during the Reporting Period included: Capital Markets Transactions Completed the listing of the Company’s common shares on the Aquis Stock Exchange Growth Market (“AQSE”), a UK-based multilateral trading facility for entrepreneurial companies seeking visibility and access to growth capital in Europe. This dual-listing was successfully completed and the Company’s common shares began trading on the AQSE on August 10, 2021. Concurrent with the dual-listing of the Company’s common shares on the AQSE, an equity financing was successfully completed on August 10, 2021, raising proceeds of US$10.3 million, to be used for general corporate purposes and to complete several strategic acquisitions. Completed Acquisitions The first of these acquisitions was completed on August 19, 2021, when Yooma acquired UK market-leader Vitality CBD Ltd., a distributer of CBD products, including oils and sprays in a wide range of flavours and strengths, edibles, and a specially developed and formulated range of CBD skin care cosmetic products. On September 30, 2021, Yooma completed the acquisition of Big Swig, Inc., a US-based specialty drinks business with unique and inventive flavours which is sold through major retail partners including Whole Foods and HEB, as well as Circle K and independent convenience stores. Operational Highlights MYO Plant Nutrition CBD products were launched on Amazon UK as part of Amazon’s selective CBD Pilot Programme. Blossom CBD skincare brand was relaunched, including nine new SKUs with a focus on expert holistic skincare. The brand achieved key listings into world-renowned Selfridges and John Bell & Croyden, which holds the Royal Warrant as Pharmacists to Her Majesty the Queen. Vitality CBD products continue to achieve premium rankings on Amazon UK for CBD search results, and significant quarter-over-quarter revenue growth. Greenleaf launched its hemp protein brand What the Hemp! in France’s leading grocery retailer Casino, with 12 SKUs available in-store at a total of 414 Casino locations. Socati Corp. ("Socati") announced a collaboration with Impact Naturals on a new line of CBD products designed to uniquely configure CBD and other cannabinoids for better and faster absorption into the blood. It contains formulations of CBD with other cannabinoids, alongside ingredients including American Ginseng, Ginkgo Biloba, and Melatonin. Post period-end Highlights Completed Acquisitions On October 2, 2021, Yooma completed the acquisition of Vertex Co., Ltd., a wellness products company in Japan, with sales through major home shopping networks (QVC, Nihon-TV and Fuji-TV), as well as various ecommerce channels (Rakuten, Yahoo Shopping and the company’s Shop-V platform). Yooma, through its subsidiary Socati, completed the acquisition of N8 Essentials LLC on October 13, 2021, adding downstream manufacturing capabilities for consumer finished products, a significant channel that has been underserviced, and providing Socati access to a broader segment of the US CBD market. Operational Highlights Vitality CBD completed a 300-store launch in ASDA, one of Britain’s leading retailers, including 17 of Vitality’s well-being and active CBD products in ASDA’s vitamin aisles and in-store pharmacies, making Vitality CBD the most extensive CBD product range in ASDA. Socati completed an order for CBD stick packs; a beverage additive representing a product line extension which will be launched at retail by Socati’s customer in early 2022. Big Swig accelerated its promotional activity with grocery retailer HEB, achieving an increase in sales volumes of 20% over the same period in the prior year; the company is also partnering with OCS Brands to enter the convenience services channel nationwide. Yooma completed the rebuild and integration of its UK e-commerce sites including hosting, management and fulfilment of all UK brands under one e-commerce business division, allowing the Company to quickly scale existing and future UK and European brands. Vitality CBD achieved commercial sales outside of UK/EU with customers in Poland and Brazil. The company was also selected for a pilot CBD launch on eBay in the UK. Selected Financial Highlights (Q3 2021) During the Reporting Period, the Company generated revenues of US$2.1 million, but experienced net and comprehensive losses of US$2.6 million, reflecting cost of sales of US$1.6 million and expenses of US$3.2 million, relating primarily to the integration of previously acquired businesses into Yooma’s global platform, expenses incurred in connection with capital raising activities and the AQSE dual-listing, and business and administrative expenses incurred by the Company’s operating divisions. All sums are in $US For the three

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Research containing Socati

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CB Insights Intelligence Analysts have mentioned Socati in 1 CB Insights research brief, most recently on Jun 14, 2019.

Expert Collections containing Socati

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Socati is included in 1 Expert Collection, including Cannabis.

C

Cannabis

3,619 items

These companies participate in - or service businesses that participate in - the legal cannabis industry. Our definition of cannabis includes both marijuana and hemp (and all derivatives). The collection includes both "plant-touching" and "non-plant-touching" businesses.

Socati Patents

Socati has filed 8 patents.

The 3 most popular patent topics include:

  • Cannabinoids
  • Designer drugs
  • JWH cannabinoids
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9/30/2019

8/3/2021

Cannabinoids, Designer drugs, JWH cannabinoids, Piperazines, Phenols

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8/3/2021

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Related Topics

Cannabinoids, Designer drugs, JWH cannabinoids, Piperazines, Phenols

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Grant

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