|By Marketwired .||
|February 16, 2017 08:00 AM EST|
CAVE CREEK, AZ -- (Marketwired) -- 02/16/17 -- Endexx Corporation (OTC PINK: EDXC), a provider of innovative phyto-nutrient based food and nutritional products, today reported first quarter 2017 revenue of $86,295, an increase of 31% as compared to the same period in 2016, and up 29% sequentially as compared to the previous quarter.
First Quarter 2017 Milestones and Updates:
- Began production of Third Eye Chai CBD-infused gourmet tea with The Mad Hatter Coffee & Tea Co.
- Phyto-Bites® received national media coverage on Fox News
- Company takes significant steps to reduce debt achieved for fiscal 2017
- Attended Pharmacy Buyers convention and received strong interest for M3Hub crossover applications
- CBD Unlimited and CEO Todd Davis featured on multiple radio and TV programs nationwide
- Retained new auditor and SEC attorney to complete audit and SEC Filings
- Generated strong recurring revenues through its Phyto-Bites® pet product line
Todd Davis, CEO of Endexx, stated, "We had a phenomenal start to the fiscal year and attribute the success to new product introductions and recurring revenue that are driving our growth model. Our Phyto-Bites® pet line has received national media coverage on Fox News and the reception has led to our products being sold out across the country. We are also excited by the traction we are receiving from our M3Hub division as well as our CBD-infused gourmet tea Third Eye Chai which has already received a ton of interest. On the corporate side, we have been fiscally responsible and have successfully reduced our debt and cleaned up our balance sheet making us a stronger company. We believe the outlook for the rest of the year will be strong and bring in record-breaking results."
Mr. Davis will be a keynote speaker at two events in the next 2 weeks: Saturday, February 18 at Healthy Habit Health Foods in Phoenix, AZ., and at the Winer Wellness Health Fair on Saturday March 4th, in Pittsburgh, PA.
Endexx, with its collaborative partners and consultants, develops and distributes two consumable product lines derived from industrial hemp, which is organic and naturally rich in phytocannabinoids. 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. Endexx provides innovative inventory management and technology solutions. The company has two technology products and services that launched in 2014 -- the M3hub and the Autospense. Both products provide essential solutions to promote regulatory compliance and full accountability through "seed to sale" inventory management and an "End of Sale" technology integration. The Autospense is 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, Autospense increases productivity and reduces costs for retailers, while enhancing their service quality by reducing transaction time for customers. Websites include: www.cbdunlimited.com, www.endexx.com, www.m3hub.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 Security and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.
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