Branded Legacy, Inc. Reports Significant Net Income of Over $3.8 Million

Rhea-AI Summary

Branded Legacy, Inc. reports a significant net income of over $3.8 million for the fiscal year 2023, driven by strategic retirements of shares. The company's assets have surpassed $3.7 million in 2024, with expansions and acquisitions boosting capabilities and revenue. Dr. Mark T. Hamann joins for clinical trials, following the acquisition of Sycamore BioPharma, Inc. Strategic acquisitions of companies like MariJ Pharmaceuticals, Inc. and All In Extracts further enhance Branded Legacy's market position and product offerings.

Positive

• Branded Legacy, Inc. reports a substantial net income of $3,825,527 for the fiscal year 2023.
• Strategic retirement of over 2.4 billion shares contributed to the increase in net income.
• The company's assets have exceeded $3.7 million in 2024, showcasing significant growth and expansion.
• Dr. Mark T. Hamann, an expert in drug discovery, joins to guide forthcoming clinical trials.
• Acquisition of Sycamore BioPharma, Inc. brings valuable assets and personnel for advancing clinical trials.
• Acquisition of MariJ Pharmaceuticals, Inc. broadens asset base and intellectual property portfolio.
• Acquisition of All In Extracts enhances production capabilities, particularly in gummies and proprietary dosing syrup.
• Branded Legacy's strategic acquisitions and expansions position the company for continued growth and market leadership in biotech and wellness industries.

Negative

• None.

Growth and Strategic Expansions in 2024 With Over $3.7 Million In Assets

MELBOURNE, Fla., April 16, 2024 /PRNewswire/ -- Branded Legacy, Inc, (OTC.PK: BLEG) a leading provider of innovative wellness products, is pleased to announce a net income for the fiscal year 2023 of $3,825,527, a substantial increase driven by the strategic retirement of over 2.4 billion shares. As they forge into 2024, the company has signed multiple on-going white label contracts, poised to further enhance our revenue and profitability for the coming year and beyond.

"2023 was a year of substantial growth and strategic repositioning for Branded Legacy. As we continue to expand and innovate, our focus remains steadfast on leveraging our core strengths in biotechnology to improve human health globally," said David Oswald, CEO of Branded Legacy.

In a remarkable development, Branded Legacy has welcomed Dr. Mark T. Hamann, the Endowed Chair of Drug Discovery and Biomedical Sciences at the MUSC College of Pharmacy, to guide its forthcoming clinical trials. This follows the Company's recent strategic acquisition of Sycamore BioPharma, Inc., a distinguished developer of plant-based pharmaceuticals. This acquisition not only secured assets exceeding $2 million but also integrates key personnel vital for advancing their clinical trials.

The company's recent strategic endeavors include the acquisition of several companies, bringing over $3.7 million worth of advanced scientific equipment and inventory. This expansion has necessitated a move to a larger, state-of-the-art facility in Melbourne, FL, to accommodate their growing operations and align with their commitment to biotechnological advancement and improving human health.

The Company's total assets have seen an astronomical increase to $3,787,215.00, the majority in 2024, marking a 1,412% increase compared to the end of Q3. The newly acquired laboratory and packaging equipment significantly bolsters capacities in R&D, production, and packaging.

The extensive equipment range acquired includes High-Performance Liquid Chromatography and Gas Chromatography systems, various centrifuges, vacuum ovens, an irradiating flow hood, incubators, and more. This arsenal of advanced tools empowers the Company to conduct precise chemical analyses, foster controlled research environments, and enhance product development efficiency across various stages.

Furthering its expansion strategy, Branded Legacy, Inc. proudly announced its acquisition of MariJ Pharmaceuticals, Inc. This deal significantly broadens their asset base and intellectual property portfolio, integrating a compounding pharmacy license, state-of-the-art supercritical CO2 extraction units, and a fleet of specialized vehicles designed for mobile extraction and refinement.

This strategic acquisition delivers not only a suite of award-winning organic products and formulations but also enhances their operational flexibility and market reach through the addition of specialized vehicles and a mobile repair service. These assets are instrumental in maintaining the efficiency and reach of our operations across multiple states, including Colorado and Tennessee.

The acquisition of All In Extracts Llc. gave Branded Legacy a leg up in production of gummies, producing 20-50,000 units daily.  The All In facility near Tampa, FL, has recently staged up production and refinement of mitragynine, as well as production of a proprietary dosing syrup.  With several popular products under their Star Hill brand, All In Extracts is a core aspect of Branded Legacy's growing revenue.

Branded Legacy, Inc. is poised to continue its trajectory of growth, innovation, and market leadership in the biotech and wellness industries.

Original Copy of this Press Release: https://brandedlegacy.com/branded-legacy-inc-reports-significant-net-income/

For Investor Relations & Media Contact:
Joe Holladay
Branded Legacy
Phone: 321-345-3565
Email: info@brandedlegacy.com
Website: https://brandedlegacy.com/

About Branded Legacy, Inc.:

Branded Legacy, Inc. (OTC: BLEG) is a diversified holdings company focused on the biotech sector. With a commitment to excellence and innovation, Branded Legacy specializes in the development and marketing of cutting-edge products and services, including ventures in biotechnology, digital solutions, and wellness products.

Safe Harbor Statement on Forward-Looking Language:

This release includes forward-looking statements, subject to risks and uncertainties that could cause actual results to differ materially from current expectations. The company disclaims any intention or obligation to update or revise forward-looking statements. Forward-looking statements may be identified by words such as "may," "will," "expect," "believe," "anticipate," "estimate," and similar expressions.

View original content:https://www.prnewswire.com/news-releases/branded-legacy-inc-reports-significant-net-income-of-over-3-8-million-302118116.html

SOURCE Branded Legacy, Inc.

FAQ

What was Branded Legacy, Inc.'s net income for the fiscal year 2023?

Branded Legacy, Inc. reported a net income of $3,825,527 for the fiscal year 2023.

Who has joined Branded Legacy for guiding forthcoming clinical trials?

Dr. Mark T. Hamann, the Endowed Chair of Drug Discovery and Biomedical Sciences at the MUSC College of Pharmacy, has joined Branded Legacy for guiding forthcoming clinical trials.

What strategic acquisitions has Branded Legacy made to enhance its market position?

Branded Legacy has acquired Sycamore BioPharma, Inc., MariJ Pharmaceuticals, Inc., and All In Extracts to enhance its market position.

What assets did the acquisition of Sycamore BioPharma, Inc. bring to Branded Legacy?

The acquisition of Sycamore BioPharma, Inc. brought assets exceeding $2 million and key personnel for advancing clinical trials to Branded Legacy.

How has Branded Legacy expanded its production capabilities through acquisitions?

Branded Legacy has expanded its production capabilities by acquiring companies like MariJ Pharmaceuticals, Inc. and All In Extracts , which have added specialized equipment and product lines.

What is the significance of the acquisition of All In Extracts for Branded Legacy?

The acquisition of All In Extracts has enhanced Branded Legacy's production of gummies, mitragynine, and proprietary dosing syrup, contributing to revenue growth.

What is Branded Legacy's focus for the coming year and beyond?

Branded Legacy's focus for the coming year and beyond is on leveraging core strengths in biotechnology to improve human health globally, as stated by CEO David Oswald.

What is the total value of Branded Legacy's assets in 2024?

Branded Legacy's total assets have reached $3,787,215.00 in 2024, marking a 1,412% increase compared to the end of Q3.

Where is Branded Legacy's new state-of-the-art facility located?

Branded Legacy's new state-of-the-art facility is located in Melbourne, FL, to accommodate their growing operations and align with their commitment to biotechnological advancement.

How has Branded Legacy enhanced its research and development capabilities?

Branded Legacy has enhanced its research and development capabilities by acquiring advanced scientific equipment, including High-Performance Liquid Chromatography and Gas Chromatography systems, centrifuges, incubators, and more.

What strategic advantages does the acquisition of MariJ Pharmaceuticals, Inc. provide to Branded Legacy?

The acquisition of MariJ Pharmaceuticals, Inc. provides Branded Legacy with a compounding pharmacy license, supercritical CO2 extraction units, and specialized vehicles for mobile extraction and refinement, expanding operational flexibility and market reach.

How has Branded Legacy strengthened its product offerings through acquisitions?

Branded Legacy has strengthened its product offerings by acquiring companies like MariJ Pharmaceuticals, Inc. and All In Extracts , which offer award-winning organic products, specialized vehicles, and production capabilities.

What is the production capacity of gummies at the All In Extracts facility?

The All In Extracts facility near Tampa, FL, produces 20-50,000 gummy units daily, contributing to Branded Legacy's revenue growth.

What is Branded Legacy's strategic focus for the future?

Branded Legacy's strategic focus for the future is on continued growth, innovation, and market leadership in the biotech and wellness industries.

Who can be contacted for Investor Relations & Media at Branded Legacy?

For Investor Relations & Media inquiries, Joe Holladay from Branded Legacy can be contacted at Phone: 321-345-3565 and Email: info@brandedlegacy.com.