August 29th, 2017 – Vancouver, BC –Isodiol International Inc. (CSE: ISOL) (OTC: LAGBF) (FSE: LB6A.F) (the “Company” or “Isodiol”) a global cannabis innovator specializing in the development of pharmaceutical and consumer products reports Q1 revenue for the period ended June 30, 2017 of $2,740,542 compared to Q1 revenue in 2016 of $47,185. The substantial increase in revenue is attributed to the acquisition of its wholly owned US subsidiary, Iso International LLC on May 15, 2017, which is also the consolidation date for this reporting period.
The Company experienced a Net Income Loss from operations of $8,478 after adding back non-cash items such as Stock Based Payments compared to Q1 2016 Net Income Loss from operations of $291,891. This significant decrease in operational loss can be attributed to the Company developing and marketing an improved product portfolio and successful implementing its global expansion into the US and Latin America.
Since the beginning of Q2 which commenced July 1, the Company has successfully gained further traction in Latin America through its launch of Isoderm and will continue to expand in this region with the introduction of additional products. The Company is also excited to further roll-out and execute its expansion plans in Q2 for penetration into Europe, Asia and the Australian markets.
Marcos Agramont, CEO of Isodiol International Inc. stated, “The company is nearing the completion of significant milestones through the collaboration with its partners in Latin America. We have been fortunate to have partnered with a group who is very influential with the regulators and health professionals in that region. Our Q1 financials show a significant improvement from prior year and we anticipate further month over month growth heading into the fall.”