Business
OMID Provides Fourth-Quarter Financial Highlights
OMID Provides Fourth-Quarter Financial Highlights.
About this update from Omid Holdings, Inc.
[{"type":"text","content":"\n\n\n\nOMID Provides Fourth-Quarter Financial Highlights\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nOMID Provides Fourth-Quarter Financial Highlights\nPR Newswire\nALPHA, N.J., Jan. 14, 2021\n\n\n\nALPHA, N.J., Jan. 14, 2021 /PRNewswire/ -- OMID Holdings, Inc. (OTC Pink: OMID), a publicly-traded health and wellness company, today provides Unaudited Key Financial Highlights for the fourth quarter.Operating Results for the Three Months Ended: December 31, 2020\nRevenue was $489,146, compared to $18,658 for the same period last year, a 2534.3% improvement. Gross Profit was $287,085, compared $3,586 for the same period last year, a 7905.7% improvement. Net income was $240,523, compared to ($27,324) for the same period last year, a 980.3% improvement. Operating Results for the Twelve Months Ended: December 31, 2020 Revenue was $1,330,068, compared to $530,133 for the same period last year, a 150.9% improvement. Gross Profit was $649,435, compared to $230,638 for the same period last year, a 181.6% improvement. Net income was $425,756, compared to $35,055 for the same period last year, a 1114.5% improvement.All comparative figures reflect the operations of OMID Holdings, Inc. (successor) detailed in the consolidated financials per the acquisition in February 2020; the predecessor reporting entity's operations are not factored into these calculations.\"2020 was a pivotal year for OMID,\" stated Adam Frank, OMID's Chairman and CEO. \"Over the past 12 months, the company has exceeded its stated goals and achieved a new standard of operations. To bolster our momentous progress, my team has elected to forgive all accrued 2019/2020 salaries outstanding as of year-end; we welcome the year ahead with great optimism.\"\nAbout OMID Holdings, Inc.\nOMID Holdings, Inc. is a publicly-traded (OTC Pink: OMID) health and wellness company which owns and operates a manufacturing facility in Alpha, New Jersey. The headquarters is FDA-registered and Food Grade Certified for production within its clean room environment. The company is currently focused on the development, manufacture, and sa...