CAVE CREEK, AZ--(NewMediaWire - May 16, 2017) - Endexx Corporation (OTC PINK: EDXC), a provider of innovative phyto-nutrient based food and nutritional products, is pleased to report record sales growth for the second quarter of fiscal 2017. For the three months ended March 31, 2017, the Company generated $126K in sales, representing a 47% sequential quarterly increase and a year-over-year revenue growth of 176%.
Second Quarter 2017 Milestones and Updates:
- Began mass production of Third Eye Chai, its CBD-Infused Gourmet Tea Beverages with The Mad Hatter Coffee & Tea Co.
Launched its new website Phytobites.com to provide a quick and easy access to drive additional sales channel for Phyto-Bites®, its CBD-infused soft chews for dogs.
Closed on its acquisition of Phyto-Labs LLC to vertically integrate its operations and further develop proprietary formulas for flavored CBD beverages.
CEO Todd Davis was featured on Fox News Phoenix live to speak on Phyto-Bites®.
"We have received a lot of positive reception for Phyto-Bites® and have built an infrastructure to support the growth which we expect to increase substantially in the coming quarters. We are a leader in consumable product lines derived from industrial hemp, which is organic and naturally rich in phytocannabinoids, and are also excited by our CBD-infused gourmet tea 'Third Eye CBD Chai', released with our partner The Mad Hatter Coffee and Tea Company. The first production run has completed and has officially launched into sales and delivery. Lastly, we expect a lot of exciting product launches from our Phyto-Labs acquisition. We have recognized that with each new launch, we have seen dramatic sales increases, as our customers are confident in our products," stated CEO Todd Davis.
Endexx was recently featured in an NBC News sweeps week special report. The report highlighted Endexx's approach to the science and education aspect of bringing Cannabidiol and other Phyto-nutrients to the market. The story has generated significant interest in the company. To access the full video please visit: https://www.youtube.com/watch?v=qSXlVK3bCik&feature=youtu.be
The Company is preparing two product launches from Phyto-Labs in late May 2017, as it now has the capability to strategically increase development of its proprietary formulas for nutritional CBD beverages, physician-pharmacist formulated capsules, topical delivery systems and additional pet and livestock products.
Endexx provides innovative inventory management and technology solutions. 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 marijuana 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 costs for marijuana retailers, while enhancing their service quality by reducing transaction time for customers. Websites include:www.cbdunlimited.com, www.endexx.com, www.m3hub.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.