ALPHA, N.J., Jan. 14, 2021 /PRNewswire/ -- OMID Holdings, Inc. (OTC Pink: OMID), a publicly-traded health and wellness company, today provides Unaudited Key Financial Highlights for the fourth quarter.
Operating Results for the Three Months Ended: December 31, 2020
Revenue was $489,146, compared to $18,658 for the same period last year, a 2534.3% improvement.
Gross Profit was $287,085, compared $3,586 for the same period last year, a 7905.7% improvement.
Net income was $240,523, compared to ($27,324) for the same period last year, a 980.3% improvement.
Operating Results for the Twelve Months Ended: December 31, 2020
Revenue was $1,330,068, compared to $530,133 for the same period last year, a 150.9% improvement.
Gross Profit was $649,435, compared to $230,638 for the same period last year, a 181.6% improvement.
Net income was $425,756, compared to $35,055 for the same period last year, a 1114.5% improvement.
All comparative figures reflect the operations of OMID Holdings, Inc. (successor) detailed in the consolidated financials per the acquisition in February 2020; the predecessor reporting entity's operations are not factored into these calculations.
"2020 was a pivotal year for OMID," stated Adam Frank, OMID's Chairman and CEO. "Over the past 12 months, the company has exceeded its stated goals and achieved a new standard of operations. To bolster our momentous progress, my team has elected to forgive all accrued 2019/2020 salaries outstanding as of year-end; we welcome the year ahead with great optimism."
About OMID Holdings, Inc.
OMID Holdings, Inc. is a publicly-traded (OTC Pink: OMID) health and wellness company which owns and operates a manufacturing facility in Alpha, New Jersey. The headquarters is FDA-registered and Food Grade Certified for production within its clean room environment. The company is currently focused on the development, manufacture, and sale of hemp-based products for private label and in-house brands. For more information about the company, please visit https://omidholdingsinc.com/.
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SOURCE OMID Holdings, Inc.