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Endexx Corporation (EDXC) is a pioneer in the plant-based wellness sector, offering high-quality m3cbd® hemp-based nutritional extracts rich in non-psychoactive phyto-cannabinoids and terpenoids. They also provide m3vape® starter kits and accessories to enhance the customer experience. Endexx is committed to formulating products that enhance bioavailability, affordability, and overall customer satisfaction. Their mission is to advance the understanding of cannabinoids through research and collaborations with medical professionals.
Recently, the company announced a strategic update on its auditing practices, opting to engage a new independent auditor, Victor Mokuolu, CPA PLLC, to align with their growth strategy and ensure transparency. This decision reflects Endexx's dedication to operational excellence and shareholder value.
Endexx (OTC: EDXC) has launched HYLA's e-commerce platform, enabling direct sales of its nicotine-free, plant-based vape products across all 50 states. The platform aims to deliver higher margins compared to wholesale operations, positioning the company for significant growth in 2025. The global e-cigarette and vape market, valued at $28.17 billion in 2023, is projected to reach $320 billion by 2032, with a 30.6% CAGR. HYLA has partnered with Storia for AI-driven marketing campaigns and plans to expand its product line with botanical-based nicotine-free pouches. The company's wholesale operations have already achieved seven-figure revenue, including orders of $350,000 to Dubai and $414,000 to Italy.
Endexx (OTC: EDXC) has announced a significant partnership between its HYLA™ division and American Shaman, a wellness retailer based in Kansas City, Missouri. This collaboration will introduce HYLA's no-nicotine vape products to 40 corporate-owned American Shaman locations, with potential expansion to 300 stores nationwide.
The partnership is part of Endexx's growth strategy, positioning HYLA for significant expansion in the domestic market. HYLA's products will be featured in a tray display program, focusing on educating consumers about nicotine-free alternatives. American Shaman's commitment to customer education and high-quality wellness products is expected to play a important role in introducing HYLA's products to a broader audience.
HYLA continues to target a compound annual growth rate (CAGR) of 300% over the next three to five years. This collaboration is anticipated to accelerate product distribution and market penetration, with more partnerships expected in the future.
Endexx (OTC: EDXC) has appointed Doug Williams, CPA, as Fractional CFO through his consulting firm, Alexander & Williams PLLC. This move is part of Endexx's efforts to strengthen its management team and implement a comprehensive financial roadmap. The roadmap includes:
- Resuming audits with newly appointed auditors, Victor Mokuolu CPA PLLC (VMCPA)
- Enhancing bookkeeping and accounting practices
- Improving transparency and compliance
- Streamlining operations for efficiency
- Removing the 'yield' sign from OTC Markets profile
Brad Listermann, Interim CEO, expressed confidence in the company's path forward with the strengthened team and experienced auditors. Endexx remains committed to improving financial transparency, strengthening operations, and delivering long-term value to shareholders.
Endexx (OTC: EDXC), through its HYLA division, is expanding its market presence for plant-based wellness and non-nicotine vape products. Key developments include:
- A pending $350,000+ purchase order from Dubai
- Partnership with a 300-store chain, starting with a 40-store test launch
- Distribution test with a regional convenience group
- Discussions with national online distributors
- Connections with large U.S. distributors, including a $50M+ vape distributor in Chicago
- Expanding international footprint in Europe and Latin America
- Verification on RangeMe.com, with submissions to major retailers
Endexx is optimistic about HYLA's growth trajectory, citing increasing interest from distributors and favorable industry trends. The company is also updating its accounting processes to ensure timely financial reporting.
Endexx 's HYLA division has expanded its distribution network in Eastern Europe, marking a significant milestone in its global growth strategy. The company has successfully fulfilled new purchase orders totaling $124,500 to key Eastern European markets. These shipments are part of HYLA's broader efforts to expand its distribution network and drive sustained revenue growth in the region.
The company remains optimistic about its outlook, supported by strategic initiatives and robust partnerships. Endexx is focused on capitalizing on emerging opportunities and driving sustained growth as it navigates ongoing market dynamics in the vape products industry.
HYLA, a division of Endexx (OTC: EDXC), has successfully completed a major order delivery to Italy. The final shipment of 57,500 vape units was delivered today, completing the total order of 115,000 units. This order, valued at $414,000, marks a significant milestone in HYLA's international expansion efforts.
The initial half of the order was delivered in May 2024, and today's delivery ensures that Italian partners have the full complement of products to meet growing demand. This successful delivery demonstrates HYLA's efficient supply chain management and ability to fulfill large-scale orders promptly, strengthening its presence in the European market.
Endexx (OTC: EDXC) has issued a correction to its Q2 2024 financial report and highlighted significant revenue growth. The company clarified that the previously reported Q2 2024 revenue of $3,275,735 was actually for the six-month period ending March 31, 2024. The correct Q2 2024 revenue (three months ending March 31, 2024) is $2,181,012.
Despite the reporting error, Endexx achieved notable financial results:
- Revenue of $3,275,735 for the six-month period ending March 31, 2024
- Gross profit of $1,246,677 for Q2 2024
- Net income of $506,837 for Q2 2024, a significant improvement from the previous quarter's net loss of $828,902
Interim CEO Brad Listermann emphasized the company's commitment to transparency and continued focus on delivering value through innovative products and strategic market expansion.
Endexx (OTCQB: EDXC) reported its Q2 2024 financial results, showing a 33.42% decrease in revenue to $2,181,012 and a 34.16% decrease in gross profit to $1,246,677 compared to Q1 2024. However, the company's net loss improved by 55.27% to $905,615. Interim CEO Brad Listermann highlighted improved cash management, with net cash used in operating activities improving by 53.44% and cash at the end of the period increasing by 187.15%. The company is focusing on the growing vaping industry, positioning its HYLA brand of organic, plant-based, zero-nicotine vape products. Strategic initiatives include exploring roll-up acquisitions, enhancing direct-to-consumer efforts, and expanding distribution channels, with potential partnerships in progress with major retailers and convenience store chains.
Endexx (OTC: EDXC), a provider of plant-based wellness and nutritional products, has released a new CEO Guidance Report for Shareholders. The report, issued on July 26, 2024, outlines the company's recent developments, strategic initiatives, and future outlook. While specific details of the report are not provided in the press release, it suggests that Endexx is taking steps to communicate its business strategy and performance to investors.
The issuance of a CEO Guidance Report indicates that Endexx is prioritizing transparency and shareholder communication. Such reports typically offer insights into a company's financial health, market position, and growth plans, which can be valuable for investors in making informed decisions. However, without access to the full report, the exact nature of the guidance and its potential impact on Endexx's stock performance remains unclear.
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