Company Reaches Revenues Up 263% Year-Over-Year
CAVE CREEK, AZ, May 14, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- CBD Unlimited, Inc. (EDXC) formerly known as Endexx Corporation, a provider of innovative phytonutrient-based food and nutritional products, is pleased to report record revenue growth for its second quarter of fiscal 2019. For the three months ended March 31, 2019, the Company generated over $680,000 in sales, which represents an increase of 263% year-over-year and 184% increase quarter-over-quarter.
Second Quarter 2019 Milestones and Highlights:
- CBD Unlimited completed the production of 7.5 million, and counting, wholesale product units of products to meet high demand requirements.
- Introduced its Premium Blue Line that represents the company’s controlled-dosing, targeted-delivery and dual-therapy product suite.
- Completed its FDA label review for entrance into the pharmacy, food, and mass retail sectors.
- CBD Unlimited purchased its corporate headquarters to provide additional space for operations, sales, and additional warehousing.
- Engaged CBD Health Solutions, a private sales group, to expand CBD Unlimited’s product reach, both nationally and internationally.
- Partnered with Gold Coast Distributors to service over 1,200 plus bodegas and boutiques in the NYC Burroughs 5 with CBD Unlimited’s product line.
“Our second quarter of fiscal 2019 continues to set the pace for the entire year. We generated another record-setting quarter, where we saw an exponential increase year-over-year increase in revenues. As we continue to expand our full-scale production capabilities, we are confident that we will be able to meet our exponentially growing consumer demand,” commented CEO & Chairman Todd Davis. “With the recent passage of the Farm Bill last December, we continue to see an increase in our national and international product reach. Additionally, the FDA called a public hearing regarding CBD that we will be monitoring closely to provide our customers and stakeholders real-time updates. And with the recent launch of our newest Premium Blue label, we are always innovating and enhancing our product line. We look forward to execute continued growth for the rest of 2019.”
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.
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