Endexx Announces Fiscal Year-End Financial Results; Year Over Year Revenues Grow 79 Percent
Endexx launches 2021 with Accelerated Contract Revenue
CAVE CREEK, AZ, Jan. 26, 2021 (GLOBE NEWSWIRE) -- via -- Endexx Corporation (OTC: EDXC), a lifestyle company focused on the intersection of science, compliance, and formulation of innovative phytonutrient-based food and nutritional products, today announced its fiscal 2020 annual report. Endexx is pleased to report record revenue $1.97 million with growth of 78 percent year over year. The company generated its first gross profit on an annual basis in fiscal 2020.
2020 Milestones and Highlights:
Joint Venture
• Endexx signs contract with DJ Khaled to launch new CBD Brand and Category
International Expansion
· Cleared to Distribute CBD Products in Guam.
· Jamaica’s CLA grants provisional licenses for Retail and Cultivation.
Increased Distribution Reach
· Endexx secured a Master Distribution contract with the leading distributor in North America.
· Distribution contract provides access to over 1,000,000 stores in the United States.
Product Innovation
· Endexx launches new “Value Line” in December to reach wider audience with more accessible price point options.
· Endexx creates five unique products to be sold at counter as a POP Impulse buy.
· Endexx rebranded its Premium line.
Acquisitions
• Endexx acquired Kush Inc. (Kushwear Brands)
• Endexx acquired CBD Life Brands (Nero Water)
• Endexx acquired Retail Pro Associates (Ronald Cotting and Stephen Herron)
“Even in light of the most challenging year ever for the company, the industry and the market, Endexx was able to survive and thrive in fiscal 2020,” stated CEO Todd Davis. Davis added, “Endexx is positioned to accelerate top line revenue growth exponentially in 2021. Covid 19 allowed us to rethink and reposition our company and its product lines to better meet the needs of its customers. We built new price point sensitive products and point of purchase impulse buy lines providing support to our sales and distribution partners. We secured the most dominant and widespread Master Distributor in the US. We then secured one of the single greatest influencers in the Music and Entertainment industry domestically and globally to both represent our products and collaborate to design a new category and market in the CBD Industry. Mr. DJ Khaled has partnered with Endexx to deliver the most exciting new wellness products in the Industry in 2021 and beyond. Adversity has brought our collective team together and has driven our focus on success and execution of our mission for years to come,” Davis concluded.
&
About Endexx Corporation
Endexx Corporation, through its operating division CBD Unlimited, develops and distributes all-natural CBD products derived from cannabis sativa plant (Hemp), containing less than 0.01% THC. Its products range from oils, capsules, topicals, and pet products, all with the shared purpose of therapeutic and pain relief for humans and pets. Phyto-Bites are CBD soft chews for animal use that are formulated to promote health and support the reduction of separation anxiety, pain, and inflammation. The science behind these products involves over half a decade of clinical research in the field and lab work to provide accuracy in dosage and delivery of optimal absorption per serving.
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 Securities and Exchange Commission. The company undertakes no obligation to update any forward-looking statements.
Contact:
For further investor and media information, contact:
Endexx Corporation
Todd Davis
Chairman & CEO
480-595-6900
