Company Sees Revenues Up 127% Year Over Year
Holistic Earth Remedies LLC, Acquisition Has Generated $85-90K
Annually in the Past Two Years and Will Add to Fiscal 2018
Revenues
Cave Creek, AZ -- January 23, 2018 -- InvestorsHub
NewsWire -- Endexx Corporation (OTC PINK: EDXC), a provider of
innovative phytonutrient-based food and nutritional products, today
announced financial and operational highlights for the full year
ended September 30, 2017.
The Company is pleased to report another record sales year for
fiscal 2017. For the full year ended September 30, 2017, the
Company generated $501,606 in sales, representing a 127% increase
compared to the full year ended September 30, 2016. Gross profit
was $289,142 for full year ended September 30, 2016, up 433% as
compared to the full year ended September 30, 2016. Operating loss
was $(223,754), down 71% as compared to the full year ended
September 30, 2016, which contributed to the Company’s ability to
reduce its operating expenses by 40%. Net loss for the full year
ended September 30 was ($585,517), down from ($776,660) as compared
to the full year ended September 30, 2016.
Fourth Quarter 2017 Milestones and Updates:
- Announced new cannabidiol (CBD)-infused pain relief products,
Maggie's Mist© and Maggie's Balm©, 100% organic, with premium
CBD
Showcased Phyto-Bites at the 4th Annual SuperZoo Show 2017
Engaged Eventus Consulting, P.C., to assist with the completion of
preparing accounting records for the current audit and to
facilitate final preparations for the SEC registration and
filing
Sponsored “Athletes for Care” at the Cannabis World Congress and
Business Exposition and the 3rd Annual Southwest Cannabis
Conference & Expo, demonstrating the Company’s commitment in
developing sustainable health solutions for athletes
CEO Todd Davis said, "2017 was an exciting year for Endexx. We
successfully expanded our footprint and continued to reinforce the
strength of our product launch strategy. From an industry
perspective, we created additional exposure at industry conferences
and within communities that not only recognized our leadership in
the CBD space but also our commitment in setting the standards for
high-quality therapeutic value for our customers. We plan on
providing over 40 SKUs of various categories, over the next fiscal
year, with the goal of making CBD Unlimited a recognizable brand
for delivering the best CBD hemp oil and CBD infused products. In
November 2017, we acquired Holistic Earth Remedies LLC, a
therapeutic topical delivery systems company, to immediately
capture 20% increase in revenues. This revenue producing
acquisition has generated $85-90K annually in each of the past two
years and will continue to add to our top line growth going
forward. Heading into fiscal year 2018 we also expect to continue
growing even more aggressively, through the quality of our
relationships, networks, distributor and partners, and to build
long-term shareholder value.”
About Endexx
Endexx, with its collaborative partners and consultants,
develops and distributes two consumable product lines derived from
industrial hemp, which is organic and naturally rich in
phytocannabinoids. Phyto-Bites®, is its CBD-infused soft chews for
dogs. The dog treats are formulated to promote health and support
the reduction of separation anxiety, pain and inflammation. The
company also has two technology products and services that launched
in 2014 -- the M3hub and the Autospense™. Both products provide
essential solutions to promote regulatory compliance and full
accountability through "seed to sale" inventory management and, an
"End of Sale" technology integration. Based on principles developed
by the pharmacological industry, the m3hub platform is the first
standardized software solution for tracking pharmaceutical grade
products that maintains compliance with federal, state and local
regulations. It is intended to provide a smooth transition to
eventual federal mandates. The Autospense™ is a commercial grade
inventory control and dispensing device that provides
up-to-the-minute accounting details and ensures both product and
patient security. By automating the dispensing process, Autospense™
increases productivity and reduces shrink and costs for retailers,
while enhancing their service quality by reducing transaction time
for customers. Websites
include: www.cbdunlimited.com, www.endexx.com, www.phytobites.com.
Safe Harbor Notice
This press release may contain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995, such as statements relating to financial results and plans
for future development activities, and are thus prospective.
Forward-looking statements include all statements that are not
statements of historical fact regarding intent, belief or current
expectations of the Company, its directors or its officers.
Investors are cautioned that any such forward-looking statements
are not guarantees of future performance and involve risks and
uncertainties, many of which are beyond the Company's ability to
control. Actual results may differ materially from those projected
in the forward-looking statements. Among the factors that could
cause actual results to differ materially from those indicated in
the forward-looking statements are risks and uncertainties
associated with the Company's business and finances in general,
including the ability to continue and manage its growth,
competition, global economic conditions and other factors discussed
in detail in the Company's periodic filings with the Security and
Exchange Commission. The Company undertakes no obligation to update
any forward-looking statements.
For further investor and media information, contact: Endexx Corporation Todd Davis Chairman & CEO endexx@endexx.com 480-595-6900