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Dallas, Texas--(Newsfile Corp. - June 16, 2020) - Puration, Inc. (OTC Pink: PURA) today released its 12th weekly Coronavirus update. The Texas economic reopening is showing signs of strain. Last week, Texas saw record new cases and this week, local news sources are reporting a spike in hospitalization.
Pandemic - COVID19
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PURA is continuing with its efforts reported last week to begin restocking inventory of its EVERx CBD Sports Water. PURA enjoyed sustained sales through the March and April shutdowns and immediately redistributed its current inventory to support demand once the economy in Texas reopened in May. PURA reported $2.7 million in annual sales last year and $800,000 in the first quarter of 2020. To insure against the possibility of another potential shutdown, in part or whole, PURA is rushing to complete another production run of EVERx.
Resilience is management's priority during the COVID-19 Pandemic. That means taking vigilant measures to protect the company's EVERx business. At the moment, that translates into making sure PURA has adequate inventory to maintain sales.
In the long-term, rapid growth remains a vital component of PURA's long-term success. The acquisition campaign launched in January this year continues unhampered and possibly even enhanced by the prevailing COVID-19 impacted economic conditions. Forbes reports that vertically integrated hemp and CBD companies capitalized under $6 million are at risk of not surviving the economic conditions resulting from COVID-19. The challenges facing such companies creates a target rich acquisition market. PURA's horizontal strategy to expand across the CBD market from beverages, to edibles and topicals gives PURA a wider footprint and corresponding long-term stability from which to maintain sustainability and fuel rapid growth.
PURA has executed three acquisitions so far this year. PURA has acquired a CBD infused confections business, a CBD pet products business, and a CBD sun care business. Last week, PURA announced entering into discussions with a CBD sexual wellness company.
PURA management continues to monitor the potential impact of the overall Coronavirus crisis to PURA's operations. To date, PURA's outlook remains sustainable with even some optimism that certain Coronavirus impacts could be beneficial.
For more information on Puration, visit http://www.purationinc.com
This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur. These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease.
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