MIAMI, FL--(Marketwired - Feb 1, 2017) - Omni Health, Inc. (OTC PINK: OMHE), a pharmaceutical company, filed today its second quarter results for fiscal year 2017, ending October 31, 2016. OMHE recorded $1.285M gross income, a 100% increase from the 1st quarter of 2017 and an 11,681% increase from previous year to year comparison. OMHE recorded $1.8M gross income and $990K Net Profit year to date, an increase of 2,306% in gross income, resulting in a net income increase of $1,076K. In addition to the results, and in accordance with ASC 805-10-50, the Company provided the results of net income of the combined results of the Company's consolidated operations with the acquisition as if the acquisition had been completed as of the beginning of the fiscal year. As such, the pro forma results were $1.62M Net Income. The Company recognized a one-time sale of discontinue operations of VitaCig to mCig, Inc., in the amount of $1.1M leaving a $520K adjusted pro forma net income for the consolidated quarter.
OMHE Chief Executive Officer Andrey Soloviev stated, "More important than the numbers reflected in the quarterly report is OMHE becoming current in its filings. We will immediately seek to move from OTC Pink to OTCQB. We thank our shareholders for their patience during this transition."
About Omni Health, Inc.
Headquartered in Miami, Florida, Omni Health Inc. operates a pharmacy operation in Miami, Florida, Malecon Pharmacy. Malecon Pharmacy, a 40 year specialty pharmacy provider located in Miami, Florida currently transitioning into global health and wellness company providing healthcare products, pharmacy operations, prescription drugs, and other services and products in the skin care and anti-aging industry.
Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company's products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies.