PURA Announces 121% Annual Revenue Growth To $2.7 Million
May 15 2020 - 8:42AM
InvestorsHub NewsWire
Dallas, TX -- May 15, 2020 -- InvestorsHub
NewsWire -- Puration, Inc. (USOTC:
PURA) today announced publishing its 2019 annual financial
report. The company realized 121% annual revenue growth
reporting over $2.7 million for the year ended December 31, 2019
compared to $1.2 million for the year ended December 31,
2020. In addition to achieving continued high revenue growth,
the company reported over $200,0000 in net
profit.
PURA has sustained high revenue growth
since introducing its EVERx CBD Sports Water early in 2018.
Management anticipates sustained growth in 2021 and plans to soon
report the company’s first quarter results for
2020.
In addition to seeing the continued
expansion of EVERx CBD Sports Water sales, in January of this year, 2020, PURA launched a
campaign to acquire CBD beverage, edible and topical businesses to
include CBD businesses that targeted pet products. The
campaign was intended to target a robust market of creative and
promising young companies starved for investment in the waning 2019
cannabis capital market. PURA has acquired a CBD confections
company and a CBD pet products company so far this
year.
In February,
PURA secured a $5 million investment to fund. The $5
million investment is structured as debt facility whereby
funds can be drawn as needed to fund acquisitions. The drawn funds
would be secured by the acquired asset and the debt can be repaid
in stock at $0.10 per share. PURA management is
actively pursuing additional investment to increase the potential
of the current acquisition
campaign.
PURA targets CBD
product acquisitions that can be enhanced with PURA’s patented
technology. PURA owns a license to a U.S. Patented cannabis
extraction process backed by extensive university medical
research. The license, issued by NCM Biotech, is exclusive
for beverages, edibles and cosmetics among other uses. NCM Biotech
is focused on medical research and Puration has access to that
research. See a recent research report on CBD extracts derived from
NCM Biotech's patented extraction
process: Journal of Cannabis
Research.
PURA plans to
publish a management narrative update review 2019 financial results
in more detail next week on Tuesday, May 19th
2020. The management update will include a 2020
outlook.
For more information on Puration,
visit http://www.purationinc.com
Disclaimer/Safe
Harbor:
This news release contains forward-looking
statements within the meaning of the Securities Litigation Reform
Act. The statements reflect the Company's current views with
respect to future events that involve risks and uncertainties.
Among others, these risks include the expectation that any of the
companies mentioned herein will achieve significant sales, the
failure to meet schedule or performance requirements of the
companies' contracts, the companies' liquidity position, the
companies' ability to obtain new contracts, the emergence of
competitors with greater financial resources and the impact of
competitive pricing. In the light of these uncertainties, the
forward-looking events referred to in this release might not occur.
These statements have not been evaluated by the Food and Drug
Administration. These products are not intended to diagnose, treat,
cure, or prevent any disease.
Contact:
Puration, Inc.
Brian Shibley,
info@aciconglomerated.com
(800)
861-1350
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