Business
PSIQ Reports Record Breaking Annual Revenues of $ 876,448 for 2018 as Compared to $ 208,236 for 2017, an Increase of Over 400% and Poised for Rapid Expansion in 2019
PSIQ Reports Record Breaking Annual Revenues of $ 876,448 for 2018 as Compared to $ 208,236 for 2017, an Increase of Over 400% and Poised for Rapid Expansion in 2019.
About this update from Profile Solutions Inc
[{"type":"text","content":"\nSUNRISE, Fla., April 04, 2019 (GLOBE NEWSWIRE) -- Profile Solutions, Inc. (OTC Pink: PSIQ) announced today that its wholly owned subsidiary, Elite Products International, Inc. (“Elite”), reported Revenues for the year ending December 31st 2018 of $876,448 compared to Revenues of $208,236 for the year ending December 31st 2017, representing an increase of over 400%. The financial statement can be viewed in its entirety at https://www.otcmarkets.com/stock/PSIQ/disclosure.\n The increase in revenues is primarily due to execution of the Company’s business, sales and marketing plan which nurtured a growing pipeline throughout the year which resulted in many new and repeat customers. Elite prides itself with excellent products, competitively priced, on time deliveries and friendly and supportive customer service. The FDA has now taken steps to advance the agency’s continued evaluation of potential regulatory pathways for cannabis-containing and cannabis-derived products, allowing for extensive new growth for PSIQ in the USA, with plans to expand domestically. See https://www.fda.gov/NewsEvents/Newsroom/PressAnnouncements/ucm635048.htm. Cannabidiol (CBD) and Cannabis stocks have had a significant run so far in 2019, with no signs of slowing down. CBD-infused food is a hot industry sub-sector for a lot of companies to take advantage of, offering the greatest potential to tap into the exploding cannabis market. Analysts project that infused CBD food and beverages could outpace general demand for marijuana products by a factor of 2, taking nearly 20% of the already existing market for cannabis edibles by 2022. However, many of the top Cannabis and CBD companies are unsure how to add their CBD and Cannabis products to food, drinks and dietary supplements purely due to current regulation guidelines which remain unclear. Some of the big-name retailers have entered the market. Recently, mega retailer CVS announced it has taken the leap and will begin selling CBD products, which prompted Walgreens to follow suit, announcing it will also carry CBD products soon after. This comes after a leading drink manufacturer, New Age Beverages, unveiled a new line of cannabis-infused drinks that will utilize the highly recognized name of late reggae star Bob Marley in launching Marley+CBD. PSIQ plans to monitor these trials, ...