CAVE CREEK, AZ--(NewMediaWire - May 16, 2017) - Endexx
Corporation (OTC PINK: EDXC), a provider of innovative phyto-nutrient
based food and nutritional products, is pleased to report record
sales growth for the second quarter of fiscal 2017. For the three
months ended March 31, 2017, the Company generated $126K in sales,
representing a 47% sequential quarterly increase and a
year-over-year revenue growth of 176%.
Second Quarter 2017 Milestones and Updates:
- Began mass production of Third Eye Chai, its CBD-Infused
Gourmet Tea Beverages with The Mad Hatter Coffee & Tea Co.
Launched its new website Phytobites.com to provide a quick and easy
access to drive additional sales channel for Phyto-Bites®, its
CBD-infused soft chews for dogs.
Closed on its acquisition of Phyto-Labs LLC to vertically integrate
its operations and further develop proprietary formulas for
flavored CBD beverages.
CEO Todd Davis was featured on Fox News Phoenix live to speak on
Phyto-Bites®.
"We have received a lot of positive reception for Phyto-Bites®
and have built an infrastructure to support the growth which we
expect to increase substantially in the coming quarters. We are a
leader in consumable product lines derived from industrial hemp,
which is organic and naturally rich in phytocannabinoids, and are
also excited by our CBD-infused gourmet tea 'Third Eye CBD Chai',
released with our partner The Mad Hatter Coffee and Tea Company.
The first production run has completed and has officially launched
into sales and delivery. Lastly, we expect a lot of exciting
product launches from our Phyto-Labs acquisition. We have
recognized that with each new launch, we have seen dramatic sales
increases, as our customers are confident in our products," stated
CEO Todd Davis.
Endexx was recently featured in an NBC News sweeps week special
report. The report highlighted Endexx's approach to the science and
education aspect of bringing Cannabidiol and other Phyto-nutrients
to the market. The story has generated significant interest in the
company. To access the full video please visit: https://www.youtube.com/watch?v=qSXlVK3bCik&feature=youtu.be
The Company is preparing two product launches from Phyto-Labs in
late May 2017, as it now has the capability to strategically
increase development of its proprietary formulas for nutritional
CBD beverages, physician-pharmacist formulated capsules, topical
delivery systems and additional pet and livestock products.
About Endexx
Endexx provides innovative inventory management and technology
solutions. 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. The company also 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. Based on
principles developed by the pharmacological industry, the m3hub
platform is the first standardized software solution for tracking
pharmaceutical grade marijuana that maintains compliance with
federal, state and local regulations. It is intended to provide a
smooth transition to eventual federal mandates. 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 marijuana
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.