Endexx Announces Completed Two-Year Financial Audit for 2013 and 2014
May 16, 2016 20:24:00 (ET)
Endexx Announces Completed Two-Year Financial Audit for 2013 and 2014
Achieves 254% Top Line Revenue Growth for First Six Months of 2016; Company in Process of Becoming Fully Reporting and Prepares for Uplisting Onto OTCQB
CAVE CREEK, AZ--(Marketwired - May 16, 2016) - Endexx Corporation (OTC PINK: EDXC), a provider of innovative phyto-nutrient based food and nutritional products, is pleased to announce that its auditor, Anton and Chia, LLP., has completed the Company's audit of its 2013 and 2014 financial statements of the Company.
In addition, the Company reported $111.6K in revenue for the six months ended March 31, 2016, a 254% increase as compared to $31.5K for the six months ended March 31, 2015.
This audit was conducted in connection with the Company's previously announced plans to pursue an uplisting of its shares onto the OTCQB.
Todd Davis, Founder and CEO of Endexx Corporation, stated, "The completion of our audit is a major milestone and allows us to move forward on our business initiatives which we have been incubating for several months. We are also providing our financials for the first 6 months ended March 31, 2016 in which we reported extremely strong topline growth as a result of the increase in our commercial sales accounts. We anticipate this to more effectively attract institutional investors and raise the awareness for our company in order to bring Endexx to the next level."
About Endexx
Endexx provides innovative medical marijuana management and technology solutions. Endexx, with its collaborative partners and consultants, develops and distributes consumable product lines derived from industrial hemp that is GMO and pesticides free and naturally rich in phytocannabinoids. The company has two technology products and services that launched in 2014 -- the M3hub and the Autospense(TM). Both products provide essential solutions to promote regulatory compliance and full accountability through "seed to sale" inventory management and tracking. Based on principles developed by the pharmacological industry, the m3hub platform is the first standardized software solution for tracking pharmaceutical grade marijuana that maintains compliance with federal, state and local regulations. It is intended to provide a smooth transition to the eventual federal mandates. The Autospense(TM) is a high-tech marijuana 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, Autospense(TM) increases productivity and reduces costs for marijuana retailer, while enhancing their service quality by reducing transaction time for customers. Websites include: www.cbdunlimited.com, www.cbdhealthsolutions.com, www.endexx.com, www.m3hub.com.
Safe Harbor Notice
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities, and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company's business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company's periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.
For further investor and media information, contact:
Endexx Corporation
Todd Davis
Chairman & CEO
endexx@endexx.com
480-595-6900
IRTH Communications
Robert Haag
Managing Director
edxc@irthcommunications.com
866-976-4784
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May 16, 2016 20:24 ET (00:24 GMT)
