Endexx Shareholder Update Highlights Projected Momentum and Growth Rate for 2024

Rhea-AI Summary

Endexx Corporation announces progress update for its HYLA division, exceeding first year expectations. Sales of HYLA products reached five million in the first 14 months since launch. Distribution expanded to 11 international countries with secured government approvals. Re-order rates are accelerating, and product placement has been achieved in over 5,000 international locations. Endexx restructured convertible debt to fixed debt and reduced operating costs, driving the company to gross profitability. Anticipated annual growth for HYLA's products is projected to be 250-500% for the next 3-5 years.

HYLA Targets 300% Compound Growth Rate per Year for the Next 3-5 Years

CAVE CREEK, AZ, Nov. 01, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Endexx® Corporation (OTCQB: EDXC), a provider of innovative plant-based wellness and nutritional products, today announced a shareholder update for progress in 2023 and 2024.  Endexx shares featured interview on SMALL CAP VOICE with Stuart Smith, Todd Davis CEO of Endexx, and HYLA division CEO Nick Mehdi.

See Video Interview at: https://youtu.be/6D2vlhy-jWU

Since acquiring HYLA, Endexx has accelerated its revenue and international distribution quicker than anticipated, exceeding first year expectations.

Highlights include:
·       Sales of HYLA products exceeded five million in the first 14 months since product launch.
·       Distribution into 11 international countries with opening orders in 2023.
·       Secured government approvals to sell Hyla products in each country.
·       Secured Key Distribution Partners in the UAE and Italy targeting regions in the Middle East and Europe.
·       Re-order rates are accelerating as product adoption and demand exceeds expectations.
·       Product placement in over 5,000 international locations in first 8 countries.
·       Uplisted stock to OTCQB: Venture Market in July 2023.
·       Consolidated HYLA financials and completed PCAOB audit of the combined enterprise in Q4.
·       Endexx products in over 11,000 stores internationally and domestically combined.
·       Endexx restructured convertible debt to fixed debt to enable the company to benefit from a high rate of growth.
·       Reduced operating costs driving company to gross profitability.

“Endexx has dramatically expanded its revenues on plant-based consumer products and its international footprint over the past year. Pivoting in 2022 to acquire HYLA was a key factor in our success in 2023,” stated Todd Davis, CEO of Endexx. Mr. Davis added, “Going forward, momentum is building for HYLA’s products, with anticipated annual growth for the next 3-5 years of 250-500 percent annually.”

“While the past year has been challenging, we really are seeing incredible traction for HYLA products both domestically and abroad,” says HYLA CEO Nick Mehdi. “We are looking forward to an incredibly strong next year driven by both growing reorders from existing customers and expansion into some very exciting new markets over the coming quarters.”

www.endexx.com & www.cbdunlimited.com
www.tryhyla.com

About Endexx Corporation

Endexx Corporation develops and distributes all natural, plant-derived wellness products and 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

HYLA currently markets its proprietary non-nicotine, guarana and L-Dopa-based vape products in a wide variety of flavors. The HYLA device is the first non-nicotine vape product to be produced in this manner in the United States and provides an unprecedented 4,500 puffs per device. HYLA is currently being distributed in 10 countries and has signed distribution agreements with an additional nine countries. www.tryhyla.com

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

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 amended Annual Report on Form 10-K/A filed with the Securities and Exchange Commission on June 9, 2023.

No Offer or Solicitation . This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.  No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, and, where applicable, the requirements under the securities laws of any other applicable jurisdiction.

For further information, please contact:
Endexx Corporation:
IR@Endexx.com
https://endexx.com/investors/
480-595-6900

FAQ

What is the name of the company that made the announcement?

The company that made the announcement is Endexx Corporation.

What is the growth rate projected for HYLA's products in the next 3-5 years?

The projected growth rate for HYLA's products is 250-500% annually for the next 3-5 years.

How many international countries does HYLA distribute its products to?

HYLA distributes its products to 11 international countries.

What is the current stock exchange listing for Endexx Corporation?

Endexx Corporation's stock is listed on the OTCQB: Venture Market.

How many stores does Endexx products currently sell in?

Endexx products are sold in over 11,000 stores internationally and domestically combined.