CAVE CREEK, AZ--(Marketwired - Mar 10, 2017) - Endexx Corporation (OTC PINK: EDXC), a provider of innovative phyto-nutrient based food and nutritional products, is pleased to announce record sales growth from all product lines with the biggest increase coming from Phyto-Bites®, the Company's CBD-infused soft chews for dogs. For the month of February, the Company generated $55K in sales, representing a 50% sequential monthly increase from January 2017. Transactions count is expanding at the same rate, exceeding 2,000 transactions per month.
"We have received a lot of positive reception for Phyto-Bites® and have built an infrastructure to support the growth which we expect to increase substantially in the coming months. As a leader in consumable product lines derived from industrial hemp, which is organic and naturally rich in phytocannabinoids, we are also excited by our CBD-infused gourmet tea Third Eye Chai™ and expect the production to be done and ready for an official sales launch by April. The backlog for the Chai tea is building nicely and testing well at seminars and 'health and wellness' fairs across the country," stated CEO Todd Davis.
On March 6, 2017, Endexx closed its acquisition of Phyto-Labs LLC, an all-stock transaction valued at $165,000, to strategically provide the capability to increase development on its proprietary formulas for nutritional CBD beverages, "Phyto-caps," and gummy "Phyto-chews," which are projected to bring 1-2 million in sales in the first 12-18 months beginning in 2017/2018.
Endexx provides innovative inventory management and technology solutions. Endexx, with its collaborative partners and consultants, develops and distributes two consumable product lines derived from industrial hemp, which is organic and naturally rich in phytocannabinoids. Phyto-Bites®, is its CBD-infused soft chews for dogs. The dog treats are formulated to promote health and support the reduction of separation anxiety, pain and inflammation. The company also has two technology products and services that launched in 2014 -- the M3hub and the Autospense™. Both products provide essential solutions to promote regulatory compliance and full accountability through "seed to sale" inventory management and an "End of Sale" technology integration. Based on principles developed by the pharmacological industry, the m3hub platform is the first standardized software solution for tracking pharmaceutical grade marijuana that maintains compliance with federal, state and local regulations. It is intended to provide a smooth transition to eventual federal mandates. The Autospense™ is a commercial grade inventory control and dispensing device that provides up-to-the-minute accounting details and ensures both product and patient security. By automating the dispensing process, Autospense™ increases productivity and reduces costs for marijuana retailers, while enhancing their service quality by reducing transaction time for customers. Websites include: www.cbdunlimited.com, www.endexx.com, www.m3hub.com.
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This press release may contain "forward-looking statements" 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 Company'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 Company'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 Company's periodic filings with the Security and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.