CAVE CREEK, AZ, Aug. 16, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE â€“ 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.Â Â Â
Third Quarter 2019 Milestones and Highlights:
â€śOur third quarter of fiscal 2019 showcases our accelerated annual growth rate and investment in the long-term success of CBD Unlimited. Our team continues to innovate and exceed expectations as we build strong momentum to finish the fiscal year. Earlier, in December, we forecasted that we would be in 5,000 stores by the end of calendar 2019. We are positioned to surpass this number near term.Â The company will continue to invest in inventory, innovation and scalability, delivering and executing the business plan,â€ť commented CEO & Chairman Todd Davis. â€śAs we look to the rest of the year, we expect to continue this growth trajectory as we increase our store count exponentially. As we scale aggressively, we continue to watch and listen to the pending FDA suggested guidelines closely. Additionally, we look to efficiently educate the consumer on our CBD products. We look forward to executing continued growth for the remainder of fiscal 2019 and on to 2020,â€ť continued Davis.
About CBD Unlimited, Inc.
CBD Unlimited. Inc. develops and distributes all-natural products from the cannabis sativa plant (hemp) with 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. The science behind these products involves half a decade of research and experiments in order to perfect the accuracy in dosage and delivery of absorption per each serving.
In order to provide conformity with federal and state mandates, the company has incorporated the â€śGorilla-Tekâ€ť platform into their business practices. The Gorilla-Tek platform is the first standardized hardware agnostic and software solution that tracks high-risk, high-shrink regulated and restricted products maintained under federal/state/local compliance. The platform provides asset protection, inventory management, compliance and an â€śend of saleâ€ť technology integration. Along with that, Gorilla-Tek is tremendously efficient as it provides up-to-the-minute accounting and product details. Gorilla-Tek increases CBD Unlimited Inc.â€™s productivity, while reducing costs for retailers and costs in time for customers.Â
Safe Harbor Notice
This press release may contain â€śforward-looking statementsâ€ť 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 companyâ€™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 companyâ€™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 Companyâ€™s periodic filings with the Securities and Exchange Commission. The company undertakes no obligation to update any forward-looking statements.
For further investor and media information, contact:
CBD Unlimited, Inc.
Chairman & CEO