PURA COVID19 Update - Management Prepares To Make Best Of Potential Worst Case
June 24 2020 - 2:43PM
InvestorsHub NewsWire
Dallas, TX -- June 24, 2020 -- InvestorsHub NewsWire --
Puration, Inc. (USOTC:
PURA) today released its 13th weekly Coronavirus update. The
continuing increase in cases in Texas is national now national news
and Texas is not alone. Dr. Fauci characterized the state of
the Pandemic in the U.S. this week in testimony to Congress as a
“disturbing surge.”
PURA management is preparing for the worst case. State and
local governments are already implementing new restrictions
intended to mitigate the increasing number of cases. A new
shelter in place order cannot be ruled out. PURA weathered
the first economic shutdown through the good fortune of having just
restocked its inventory of EVERx CBD Sports Water prior to the
shutdown. Following the reopening of the economy, PURA
quickly redistributed its remaining inventory and initiated efforts
to run a new production cycle prior to another possible
shutdown.
PURA reported $2.7 million in annual sales last year and
$800,000 in the first quarter of 2020. To insure against the
possibility of another potential shutdown, in part or whole, PURA
is rushing to complete another production run of EVERx.
Resilience is management’s priority during the COVID-19
Pandemic. That means taking vigilant measures to protect the
company’s EVERx business. At the moment, that translates into
making sure PURA has adequate inventory to maintain sales.
PURA also continues with its horizontal strategy to expand
across the CBD market from beverages, to edibles and topicals
giving PURA a wider footprint and corresponding long-term stability
from which to maintain sustainability and fuel rapid growth.
The acquisition campaign launched in January this year continues
unhampered and possibly even enhanced by the prevailing COVID-19
impacted economic conditions. Forbes reports that vertically
integrated hemp and CBD companies capitalized under $6 million are
at risk of not surviving the economic conditions resulting from
COVID-19. The challenges facing such companies creates a target
rich acquisition market.
PURA has executed three acquisitions so far this year. PURA has
acquired a CBD infused confections business, a CBD pet products
business, and a CBD sun care business. PURA expects to close the
acquisition of a CBD sexual wellness company
tomorrow, June 25, 2020.
PURA management continues to monitor the potential impact of the
overall Coronavirus crisis to PURA’s operations. To date, PURA’s
outlook remains sustainable with even some optimism that certain
Coronavirus impacts could be beneficial.
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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