If you’re looking for an insane rally on a chart, then look no further than CBD Unlimited, Inc. (OTCMKTS:EDXC). Shares of the stock are up as much as 1250% in the past four months, and traders are clearly taking notice. To further flesh out the story, the company just announced that it has completed the production of 7.5 million wholesale products to meet initial demand requirements.
According to the release, “CBD Unlimited recently completed another record-breaking quarter with company projections to hit greater milestones this year. CBD Unlimited has illustrated its ability to produce product at full-scale levels and will continue to expand its full-scale production capabilities as demand continues to increase. The company expects demand to accelerate every quarter over the next 2 years.”
CBD Unlimited, Inc. (OTCMKTS:EDXC), formerly known as Endexx Corporation, bills itself as a company that provides phyto-nutrient (plant-based) food and nutritional products.
The company offers Phyto-Bites, a cannabidiol (CBD)-infused soft chew product for dogs formulated to promote health and support the reduction of separation anxiety, pain, and inflammation; Third Eye Chai, a CBD-infused gourmet tea beverage; CBD capsules, oils, and distillates; and CBD Topicals, which are hemp-derived, phyto plant based therapy ingredients for pain relief.
It also provides equipment, including M3Vape starter kits and accessories.
The company was formerly known as ENDEXX Corporation and changed its name to CBD Unlimited, Inc. in November 2018. CBD Unlimited, Inc. is headquartered in Cave Creek, Arizona.
According to company materials, “CBD Unlimited, Inc., with its collaborative partners and consultants, develops and distributes two consumable product lines derived from Hemp, which is all-natural and rich in phyto-cannabinoids. 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 key technology products and services that launched in 2014. Both products provide essential solutions to promote regulatory compliance and full accountability through asset protection, inventory management, compliance and an “end of sale” technology integration. Based on principles developed by the pharmacological industry, the integrated “Gorilla-Tek” platform is the first standardized hardware agnostic and software solution for tracking high- risk high-shrink regulated and restricted products that maintains compliance with federal, state and local regulations. It is intended to provide conformity with federal and state mandates. Gorilla-Tek is also 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, Gorilla-Tek increases productivity and reduces costs for retailers, while enhancing their service quality by reducing transaction time for customers.”
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As noted above, EDXC just announced that it has completed the production of 7.5 million wholesale products to meet initial demand requirements.
The chart shows 57% tacked on to share pricing for the listing in the past month. In addition, the company has seen interest climb, with an increase in recent trading volume of just under 150% above the average volume levels in play in this stock over the longer term.
“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.”
Earning a current market cap value of $189.48M, EDXC has a reserve ($319K) of cash on the books, which stands against about $3.4M in total current liabilities. One should also note that debt has been growing over recent quarters. EDXC is pulling in trailing 12-month revenues of $842K. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 23%. As more color becomes clear on the name, we will review the situation and update our take. Sign-up for continuing coverage on shares of $EDXC stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $EDXC, either long or short, and we have not been compensated for this article.