KALY - Kali-Extracts Announces Reaching $1 Million In Sales
December 23 2019 - 12:19PM
InvestorsHub NewsWire
Dallas, TX --
December 23, 2019 -- InvestorsHub NewsWire -- Kali-Extracts, Inc.
(Kali, Inc. dba/Kali-Extracts, Inc.) (USOTC:
KALY) (“KALY”) today announced that the company has reached $1
million in sales. Subject to an accounting review of its
overall 2019 financials, management anticipates reporting over $1
million in revenue for 2019. The major revenue contribution
comes from KALY’s first hemp extraction contracts.
KALY’s revenues
through the end of Q3 come primarily from the sale of CBD infused
products that have utilized KALY’s U.S. Patented Cannabis
Extraction Process. KALY produces its own line of CBD infused
candies under the Hemp4mula brand name. Hemp4mula includes
both CBD Gum and CBD Gummies. Both are available at www.USMJ.com. KALY has also licensed its
Patented Cannabis Extraction Process for the production of CBD and
cannabis infused beverages.
KALY has
reported $173,300 for the three-month period ending September 30,
2019. KALY’s year to date revenue through the period ending
September 30, 2019 exceeds $300,000. The company’s operation
is profitable.
After executing
its first CBD extraction contracts with hemp farming operations and
commencing its first harvesting and extraction efforts, management
now indicates a substantial addition to sales in the fourth quarter
adding to ongoing sales generated from CBD infusion into candies
and beverages that could bring the company to or over $1 million in
revenue for 2019 after an accounting review.
KALY’s infusion
and extraction business supplements the company’s primary cannabis
biopharmaceutical technology development objectives. To date, KALY
has an intellectual property portfolio that contains a deep
pipeline of cannabinoid biopharmaceutical product candidates
including four distinct compounds listed
here:
Chronic Obstructive Pulmonary
Disease (COPD) - The
market for COPD treatment is anticipated to reach $14 billion by
2025;
Type 2
Diabetes - The market for
Type 2 Diabetes is expected to be a $64 billion market by
2026;
Cancer Pain
Management - The overall
pain management treatment market is anticipated to reach $83
billion by 2024, and
Epilepsy
- The market for epilepsy treatment is
anticipated to reach $9 billion by 2022.
In conjunction with the research already conducted
and the next phase of research now moving forward, KALY recently
filed for a new patent application specifically on its formulation
for symptoms associated with COPD and other similar respiratory
conditions. KALY also filed for a trademark
on the name RespRx as the brand name for its CBD
formulation to treat the symptoms associated with COPD and other
similar respiratory conditions. The market
for COPD treatment is anticipated to reach $14 billion by
2025.
In addition to KALY’s ongoing efforts to develop
prescription therapies, KALY has initiated a program to certify its
proprietary CBD extracts derived from KALY’s U.S. Patented
Extraction Process as an Over-The-Counter (OTC) drug under the
requirements prescribed by the U.S. Food and Drug
Administration.
To stay abreast
of the latest developments and learn more about the company visit
https://www.kali-extracts.com/.
This press
release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended (the
"Exchange Act"), and as such, may involve risks and uncertainties.
These forward looking statements relate to, amongst other things,
current expectation of the business environment in which the
company operates, potential future performance, projections of
future performance and the perceived opportunities in the market.
The company's actual performance, results and achievements may
differ materially from the expressed or implied in such
forward-looking statements as a result of a wide range of
factors.
CONTACT:
Frederick Ferri
ir@kali-extracts.com
(214)
210-0459
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