COVID-19 Pandemic Notice - Leafbuyer Pivots to Home Delivery

Published: Wed, 03/18/20

Fellow shareholders,

Leafbuyer has gone virtual and pivoted to providing home delivery and other valuable solutions to our customers during this critical time. Enabling our customers to continue operations will ensure our success. More specifically, there are three ways we can serve our customers throughout the pandemic:

1. Implement new home delivery alternatives. Our new progressive web application and website plugins will allow our customers to offer delivery as a convenient and safe purchase option.

2. Offer preordering systems. We are providing a preordering platform that will allow our clients to practice social distancing and limit customer times in waiting rooms.

3. Provide communication tools. It is now more important than ever that our clients are able to communicate with their customers. Texting software will allow our consumer-facing companies to effectively communicate with their customers.

While we hope for a speedy resolution to the global pandemic, we are committed to optimizing the company for the current economic climate which may very well last for months.

I am also pleased to report that we ended 2019 with another record quarter and 92% year-over-year revenue growth. To further growth, we are exploring potential acquisitions and vigorously promoting our new Leafbuyer app.

I will strive to keep you informed of our progress. On behalf of the Leafbuyer team, thank you for your support.

Kurt Rossner, Chairman and CEO

Online Ordering with the New App

The new Leafbuyer app released in December, is attracting attention from cannabis consumers and businesses alike. Thanks to the innovative progressive web application (PWA) technology, consumers can download the app directly from the Leafbuyer website. This feature is an important differentiator. Over the past year, several competitors have been pulled from the Apple and Google app stores for including order ahead and delivery functionality.

Leafbuyer is currently transitioning all dispensary clients using the Greenlight ordering platform (acquired in 2018) to the Leafbuyer ordering platform. Eager to receive online orders, dispensaries will help push their consumers to download the all-inclusive application.

Online ordering will be a major focus in the coming months, especially in states with legal delivery laws. The ROI for online orders is trackable and indisputable, making this product a valuable solution. Order ahead and delivery technology provide convenience for consumers and drive dispensary sales in legal markets.

While many industries face significant challenges in the face of COVID-19, Leafbuyer is still poised to succeed. We will continue to focus on building system scalability, providing industry-leading technology, and maintaining long-term customer relationships. To accelerate revenue growth, the executive team is also reviewing potential acquisition possibilities.

Leafbuyer will issue timely communications as important information becomes available.