Business
Isodiol International Inc. Provides Shareholder Update
Isodiol International Inc. Provides Shareholder Update.
About this update from Isodiol International Inc
[{"type":"text","content":"VANCOUVER, BC / ACCESSWIRE / January 24, 2020 / Isodiol International Inc. (CSE:ISOL) (OTCQB:ISOLF) (FSE:LB6B.F) (the "Company" or "Isodiol"), To All Shareholders:To describe FY2020 as a dynamic year is an understatement. The company achieved strong revenue growth during the year, only to have this positive momentum halted during the last several months by a few small, however significant impacts of supply and demand. With the ever-evolving hemp CBD market coupled with the passing of the 2018 farm bill, which enables farmers to grow hemp for CBD-oil cultivation, afforded many newcomers the ability to enter the space. Unfortunately, this increased competition had an adverse effect on the bulk ingredient pricing model, resulting in record low margins across the industry and ultimately forcing a pivot in our sales strategies and operations to focus on branded finished products. Isodiol, will continue as a recognized leader in the bulk ingredient supply chain, while rebalancing efforts to gain market share as a finished product innovator across all of our brands. This pivot enables us to properly focus our attention on the foundation in which Isodiol was originally established, to be the leader in Sales, Marketing, and Distribution of finished goods across the industry.The many growing pains that Isodiol has experienced over the last year is to be expected when quickly rising to the top of a continuously maturing market. Our initiative to reduce expenses through streamlining operations, as well as realigning our efforts to focus on the changing landscape of the industry, will position Isodiol for stabilization through long term revenue growth. Furthermore, I recognize that the divesture of certain subsidiaries and how these were managed has had a negative impact on shareholder confidence, while at the same time, I am confident that the knowledge gained, and lessons learned will continue to be leveraged in reshaping the company.With that said, Isodiol will continue to expand into new markets and product offerings to increase customer acquisition and retention across our integrated platform solely focused on providing the highest quality products in full transparency with a consistent and seamless customer experience. In addition, we will continue to expand our retail footprint with partnership like Vitamin Shoppe ...