Company Sees Revenues Up 23% Year-Over-Year and Up 20% Sequentially Driven by High Demand for its CBD Product Line
CAVE CREEK, AZ, Feb. 20, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – CBD Unlimited, Inc., formerly known as Endexx Corporation (OTC PINK: EDXC), a provider of innovative phytonutrient-based food and nutritional products, is pleased to report record sales growth for its first quarter of fiscal 2019. For the three months ended December 31, 2018, the company generated $236,000 in sales, representing an increase of 23% year-over-year and 20% sequential increase quarter-over-quarter.
First Quarter 2018 Milestones and Updates:
- Endexx changes name to CBD Unlimited, Inc.
- New COO, Dustin Sullivan, ramps up execution of full scalability to service the large mass retail, pharmacy and food markets.
- The Company presented to multiple family offices and institutional investors through key financial industry venues.
- CBD Unlimited introduced its “Premium Blue Line” for roll out in the newly legalized Hemp Industry. The Farm Bill Act was passed in December 2018, permanently legalizing the Hemp Industry and redefining the plant we manufacture products from.
CEO Todd Davis commented, “Our first quarter of fiscal 2019 generated another record-breaking quarter. During that time, we have added key personal to support the transition from the “Hemp Pilot Program” to full scale commercial production and distribution. CBD Unlimited is positioned for exponential revenue growth going forward.”
About CBD Unlimited, Inc.
CBD Unlimited, Inc., with its collaborative partners and consultants, develops and distributes two consumable product lines derived from Hemp, which is all-natural and rich in phyto-cannabinoids. 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 key technology products and services that launched in 2014. Both products provide essential solutions to promote regulatory compliance and full accountability through asset protection, inventory management, compliance and an “end of sale” technology integration. Based on principles developed by the pharmacological industry, the integrated “Gorilla-Tek” platform is the first standardized hardware agnostic and software solution for tracking high- risk high-shrink regulated and restricted products that maintains compliance with federal, state and local regulations. It is intended to provide conformity with federal and state mandates. Gorilla-Tek™ is also 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, Gorilla-Tek™ increases productivity and reduces costs for retailers, while enhancing their service quality by reducing transaction time for customers.
Websites include: www.cbdunlimited.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 Securities and Exchange Commission. The company undertakes no obligation to update any forward-looking statements.
For further investor and media information, contact:
CBD Unlimited, Inc.
Chairman & CEO