TORONTO, ON, Jan. 23, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Easton Pharmaceuticals Inc. (OTC: EAPH) announces completion of its financial statements with $200,000 in sales in its quarter ending September 30th and just over $200,000 in sales booked in its last quarter ending December 31, 2018.
Easton is pleased to have achieved what it believes to be consistent sales through its various operations. Easton currently owns approximately 3 acres in Cobourg, Ontario, just 1 hour east of the City. The Company has plans to develop 42 residential units on the property that will generate approximately $30 million in profit over the next 3 years, with the first phase consisting of 6 units in the existing mansion, which will generate approximately $2 million in profits in 6 months. The Company is currently underway on its $2.6 million framing contract for the framing of 150 homes, which is further contributing to the revenues. Easton, with partner BMV Medica S.A., signed a distribution agreement with multi-national Bayer in 2018, for the distribution of its women’s health care products in Mexico, whereby Bayer will be making royalty payments to Easton/BMV. Bayer intends on launching the products in the first quarter of 2019. More information will be released once Bayer has finalized its launch plans. The Company also owns 135 acres in Georgina, Ontario and is working on a new plan for operations on that property, which was appraised at over $8 million.
Easton has signed an agreement for a charity casino in the US, as well as several other initiatives in final stages of deployment, which it will announce once approved.
Easton expects to see continued increase in its revenues from its various business initiatives and is committed to building a strong foundation for its growth.
About Easton Pharmaceuticals
Easton Pharmaceuticals is a diversified specialty pharmaceutical company involved in various pharmaceutical sectors and other growing industries. The Company previously developed and owned an FDA-approved wound-healing medical drug and currently owns topically delivered drugs to treat cancer and other therapeutic products to treat various conditions that are all in various stages of development and approval. Easton, together with BMV Medica S.A. own the exclusive distribution rights in Mexico and Latin America for two patented women's diagnostic products and a novel natural treatment for Bacterial Vaginosis, which they have sub-licensed to Bayer and Gedeon Richter. In addition, a generic cancer drugs line is being developed for sale in Mexico. The company's gel formulation is thought to be an innovative and unique transdermal delivery system that can in the future be adaptable in the delivery of other drugs. As part of its strategic growth plan, the Company has entered new lucrative market segments globally, including Gaming, Real Estate and Hospitality, among others, through the expertise of its Officers and Directors.
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This news release may contain forward-looking statements or expressions within the meaning of the Private Securities Litigation Reform Act of 1995 (The "Act"). In particular, when certain words or phrases such as "hope", "positive", "anticipate," "pleased," "plan," "confident that," "believe," "expect," "possible" or "intent to" and similar conditional expressions are expressed, they are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Any investment made into Easton Pharmaceuticals may contain risks. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the company's products and technologies, competitive factors, the ability to successfully complete additional or adequate financing, government approvals or changes to proposed laws and other risks and uncertainties further stated in the company's financial reports and filings.
Evan Karras / CEO / President