Business
CBD Unlimited Announces Third Quarter 2019 Financial Results and Recent Corporate Developments
CBD Unlimited Announces Third Quarter 2019 Financial Results and Recent Corporate Developments.
About this update from Endexx Corp.
[{"type":"text","content":"\nCAVE CREEK, AZ, Aug. 16, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – CBD Unlimited, Inc., formerly known as Endexx Corporation (EDXC), a provider of innovative phytonutrient-based food and nutritional products, is pleased to report year over year revenue growth for its third quarter of fiscal 2019. For the three months ended June 30, 2019, the Company generated over $335,000 in sales, which represents an increase of 52% year over year, and nine months year-to-date $1,252,880 a 108% increase.   \n Third Quarter 2019 Milestones and Highlights: Launched new Premium Blue Line (BalmX and MistX) installed in approximately 1,500 stores across 10 states in mainstream brick and mortar retailers. Wholesale value of the 6 premium products manufactured is valued over $5.5 million, with total product lines exceeding $8 million. Invested and manufactured six Premium Blue Line SKUs at 35,000 units each. Established the foundation to service increased demand and scale with stores on demand. Accelerating store growth again in the current quarter as stores are expanding their state rollout schedule. New contracted distributors are opening chain stores at 50-500 stores per launch. Announced an accelerated convenience store launch program with plans to roll out its products to 1,000 stores per month for a 6-month period reaching roughly 24,000 convenience stores with 2 SKU’s at 20 units per store. Showcased its products at ECRM’s Hemp/ CBD Health and Beauty Care Program where the Company was introduced to major retail buyers who extended commitments to the Company. Overall, trade shows in 2019 generated interest in our products from at least 50 leading retail stores across America. Completed PCAOB audited financial statements for fiscal years 2018 and 2017 in order to pursue an up listing to a higher OTC Market tier. The company is carrying inventory on its books until the inventory is sold, meaning the sale converts inventory to revenue instead of accounts receivable in certain Fortune 50 retailers.  Increased its fulfillment capacity as the Company continues to grow its e-commerce presence. Registration in multiple international markets is accelerating as the Company prepares for targeted channels abroad. “Our third quarter of fiscal 2019 showcases our accelerated annual growth rate and investment in ...