CBD Unlimited (OTCMKTS
On April 8th, the company announced another record-breaking quarter by reaching the production of 7.5 million wholesale products to fulfill initial demand requirements.
“Last year, we grew CBD Unlimited’s distribution to over 1,000 distribution channels. With full-scale production capabilities, we are confident that we will reach at least 5,000 by 2020,” commented CEO & Chairman Todd Davis. “With the recent passage of the Farm Bill in December 2018, we are seeing an increase in our national product reach and will be able to deliver to meet these high demand levels.”
Moreover, in early March, CBD Unlimited announced a new partnership with Gold Coast Distributors to service over 1,200 stores with CBD Unlimited’s product line. Under the new partnership, both the companies are planning to initially launch the rollout in Manhattan and Brooklyn, New York.
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As CBD Unlimited continues to increase its distribution channels and reaches full-scale production capabilities, Gold Coast Distributors will enable CBD Unlimited’s footprint in the Burroughs 5 and continue its growth trajectory rate nationwide.
For the quarter ended December 31, 2018, CBD Unlimited reported a 23% year-over-year jump in revenue to $ $236,000. Total revenue grew 20% quarter-over-quarter. For the fiscal year ended September 30, 2018, the company recorded total revenue of $797,549, up 59% from a year ago revenue.
Gross profit was $348,295 for the year improved by 20% as compared to the previous year. However, the company reported a net loss of $1,738,150 for the year ended on September 30, 2018.
Following the Farm Bill Act was passed in December 2018, the company introduced its “Premium Blue Line” for roll out in the newly legalized Hemp Industry.
In Wednesday’s session, the stock went up 13.73% to close at a new 52-week high of $0.53. EDXC stock has recovered a whopping 1665% from its 52-week low price of $0.033.
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Disclosure: we hold no position in $EDXC, either long or short, and we have not been compensated for this article.