Right On Brands Issues Corporate
Update
Rowlett, TX -- August 24, 2022 -- InvestorsHub NewsWire -- Right on
Brands, Inc. (OTC PINK: RTON), a fully reporting SEC filer and
developer of hemp-based products is pleased to announce the
following updates. When our 10K was filed and it showed the
great progress during the year ended March 31, 2022, we generated
revenue of $997,100. Our cost of goods sold was $557,088, resulting
in gross margin of $440,012. We incurred total operating expenses
of $495,697, consisting of general and administrative expenses of
$349,980, legal, and professional fees of $111,599, advertising and
promotion costs of $28,518 and depreciation and amortization of
$5,600. In addition, we incurred interest expense of $25,636,
amortization of debt discount of $966, a gain on the change in fair
value of derivative liabilities of $100,209 and a loss on the
settlement of liabilities of $274,938. Our net loss for the year
ended March 31, 2022, was $257,016. The great news we filed our
first quarter 10Q ending June 30, 2022, showed our first profit of
over $190,000. We believe we have turned the corner and with the
three new stores coming on board we look to be profitable
again.
Our Franchising deal with FMS
franchise is still moving forward. Chris Conner President of FMS
Franchise says, "We are still very excited about Endo Dispensary
and Wellness and are anticipating great results by the end of the
year." If anyone would like to learn more about being a store owner
contact jerry@rightonbrands.com
Update on other store openings. Miami is back on track after a
delay in their new location. They anticipate opening mid-September
and Ester Castleman is very excited to open. We have a new location
in Houston Texas which will be located at 3343 Louetta Rd Spring
Texas. The store will be operated by Dennis and Belinda Dooley. We
have another new store that will open at 601 W Parker Road Plano
Texas it will be operated By Maddy Grisaffi Grand Daughter of Jerry
Grisaffi. We are planning to add 2 company stores to the Dallas are
very soon.
We have engaged www.tigusa.com
and J Preston Walsh to vet locations
in Dallas and other cities in Texas. The real estate market for CBD
stores and stores that handle hemp derived products is very
difficult to navigate. The professionalism of the TIG group and the
Walsh team have us excited to work with them.
We have engaged a new bookkeeping service to post all transactions
faster to alleviate the problems we have had in the past. We are
also in the process of securing a new CFO who will work closely
with our auditors and accountants. We will announce this new hire
soon. We would like to thank David Youssefyeh for his service to
the company and we wish him well on his new endeavors.
If you know anyone that would like
to know more about becoming an Endo Dispensary store, please
contact us at info@endodispensaryrowlett.com
or jerry@rightonbrands.com
About Right on Brands: Right on Brands,
Inc., (OTC Pink: RTON) is a Dallas based, consumer goods company
specializing in the brand development and distribution of
hemp-based foods, beverages, smokables, oils and topical products.
Right on Brands, Inc. is a developer of a broad line of hemp-based
smokables, beverages, tinctures, and topical products including
products infused with CBD, Delta-8, Delta-10, THCV, CBDV, THCO and
Delta-9 (below the federal limit) and the all new HHC vapes,
gummies and tinctures (and soon an HHC drink). About ENDO Brands:
ENDO Brands™, Humbly Hemp®, and ENDO Dispensary & Wellness™ All
share the same goal of providing our customers with the best
products in the health and wellness space. As the field of health
and wellness products expand, Right on Brands will be there with
industry leading Food and Beverage and wellness Products.
To learn more,
please visit: https://rightonbrands.com/
www.endobrands.com
www.ENDOdispensaryrowlett.com
email: mike@rightonbrands.com
Corporate Sales: Mike Brown (214) 736-7252
ENDO Brands Corporate Store:
ENDO Brands at
Lakeview Plaza 6501 Dalrock Road Suite 100 Rowlett, Texas 75089
214-299-9528
AUSTIN LOCATION
12412 Limerick Avenue Austin, Texas 78758 www.endoofaustin.com
512-621-0649
LAREDO LOCATION
ENDO Laredo 2413 Jacaman Rd, Laredo, Texas www.endolaredo.com
956-568-2300