Endexx® Secures Third Order for Non-Nicotine Vape Product HYLA™ Worth Approximately $1.5M in Revenue for First two Fiscal Quarters of 2023
Endexx Corporation (OTC: EDXC) has announced securing $2.3 million in purchase orders for its non-nicotine plant-based vape product, HYLA™, within just 55 days post-acquisition. The orders, coming from the Western US, a Central Asian nation, and Dubai, are expected to generate approximately $827,000 and $1.5 million in revenue, respectively. The Dubai order spans six months, hinting at potential growth. CEO Todd Davis expressed optimism about recouping HYLA's acquisition costs by the second quarter and enhancing overall revenue.
- Secured $2.3 million in revenue from HYLA product orders in just 55 days.
- Orders expected from Dubai could enhance international market access and distribution.
- None.
CAVE CREEK, AZ, Oct. 27, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Endexx® Corporation (OTC: EDXC), a provider of innovative, plant-derived, and sustainable health and skincare products, today announces it has secured three key significant orders for its newly acquired, non-nicotine plant-based vape product, HYLA™. These orders provide a combined
The orders came from distributors in the Western Region in the US, a Central Asian nation and Dubai in the UAE. The first two will bring a combined approximate revenue of
Todd Davis, CEO of Endexx, stated, “HYLA has been an important addition to our product offerings, while maintaining our mission statement of providing innovative, plant-based consumer products to the consumer. Importantly, this first set of orders puts us on track to recoup the investment made to acquire HYLA by the second quarter of this year, and to significantly increase our overall revenue intake."
Nick Mehdi, CEO of the Hyla division, stated, “The Dubai, UAE market is very influential in identifying trends, consumer behavior and market expansion in the Mid-East.” Mr. Mehdi added, “HYLA products represent the best alternative to replace Nicotine Based vape products, both internationally and here in the US.” Mehdi concluded that, “The Dubai transaction opens the entire market in the region and we anticipate significant growth in distribution.”
“Combined with both our CBD pain and men’s skincare products and non-CBD skincare line, we believe we are creating an important niche franchise that will appeal to an increasingly wider audience worldwide. Our distribution for our Blesswell™ line includes some of the major retailers in the nation, including Target, CVS and Amazon, and we are confident that the HYLA acquisition – in addition to generating revenue from direct sales – will also provide us additional international access. We look forward to continuing to update shareholders on our progress,” concluded Mr. Davis.
About Endexx Corporation
Endexx Corporation develops and distributes all-natural, plant-derived topical skincare products. Its products vary from balms, creams, lotions, butters, masks, scrubs, and oils, all with the shared purpose of healthy skin and grooming wellness. The science behind these products involves a decade of clinical research in the field and lab work to provide functional formulation with ingredients for optimal absorption and support of skin health. www.endexx.com www.tryHyla.com
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We caution that any forward-looking statements (as such term is defined in the U.S. Private Securities Litigation Reform Act of 1995) contained in this press release or made by us, our management, or our spokespeople involve risks and uncertainties and are subject to change based on various factors, many of which are beyond our control. Accordingly, our future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. Forward-looking statements include, without limitation, statements regarding our future operating results, the implementation and impact of our strategic plans, and our ability to meet environmental, social, and governance goals. Words such as “estimate,” “commit,” “target,” “goal,” “project,” “plan,” “believe,” “seek,” “strive,” “expect,” “anticipate,” “intend,” “potential” and any similar expressions may identify forward-looking statements. Risks associated with the following factors, among others, could affect our financial performance and cause actual results to differ materially from those expressed or implied in any forward-looking statements:
Except as may be required by law, we assume no obligation and do not intend to make publicly available any update or other revisions to any of the forward-looking statements contained in this press release to reflect circumstances existing after the date of this press release or to reflect the occurrence of future events, even if experience or future events make it clear that any expected results expressed or implied by those forward-looking statements will not be realized. More information on potential factors that could affect our results is included “Risk Factors” in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 31, 2022.
For further information, please contact:
Endexx Corporation
Endexx@endexx.com
480-595-6900
Investors:
Scott Arnold
CORE IR
scotta@coreir.com
Media:
Jules Abraham
CORE IR
Email: julesa@coreir.com
Phone: 917-885-7378
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