Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Cosmos Holdings, Inc. Announces Year End 2018 Financial Results
Revenue Improved 23.6% and Gross Profit Improved 23.1% compared to 2017
CHICAGO, IL- - April 23, 2018 - Cosmos Holdings, Inc. ("the Company") (OTCQB: COSM), an international
pharmaceutical company, announced its full-year 2018 financial results for the year ended December
31, 2018.
2018 Highlights:
? Revenue improved 23.6% to $37 million from $30 million in 2017
? Gross profit increase 23.1% to $2.4 million from $1.96 million in 2017
? Operating expenses decreased by 46.7% year over year.
? Repaid the remaining balance of its convertible notes, totaling $5.5 million.
? Completed the acquisition of Cosmofarm Ltd., www.cosmofarm.gr, a fully licensed
pharmaceutical wholesale company, in December of 2018 which features a fully automated
supply chain and integrated robotic fulfillment center powered by ROWA.
? Entered the Nutraceutical market with its own premium brand of food supplements - Sky
Premium Life.
Grigorios Siokas, Chief Executive Officer commented, “Our focus in 2018 included increasing our core
distribution business, formally launching our Sky Premium Life food supplement brand, expanding our
direct to pharmacy reach, and vertically integrating into our supply chain. Looking to 2019 we will be
focusing on building our Sky Premium Life food supplement brand along with expanding our product
offerings.”
About Cosmos Holdings, Inc.
Cosmos Holdings Inc. is a pharmaceutical wholesaler distributing branded and generic medicines, over-
the-counter (OTC) pharmaceuticals, food supplements, and medical devices to its growing network with
offices and warehouses in Thessaloniki, Greece; Athens, Greece; and Harlow, UK. The Company has a
trans-European network which expands throughout Europe. More information is available at
www.cosmosholdingsinc.com.
FORWARD LOOKING STATEMENTS
Except for historical information, this news release contains forward-looking statements, within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934. These statements involve unknown risks, and uncertainties that may cause the Company's actual
results or outcomes to be materially different from those anticipated and discussed herein. Important
factors that might cause such differences are discussed in the Company's filings with the Securities and
Exchange Commission. The Company disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future events or otherwise. Actual
results could differ materially from those anticipated in these forward-looking statements, if new
information becomes available in the future.
Cosmos Holdings, Inc. Pays Off All Convertible Debt
CHICAGO, IL Cosmos Holdings, Inc. (OTCQB: COSM), an international pharmaceutical company, announced today that it paid off the remaining balance of its convertible notes. The aggregate initial principal amounts of the notes totaled $5,583,333.
Cosmos Holdings CEO Gregory Siokas commented, “We are excited to announce the repayment of all our convertible debt. With the acquisition of Cosmofarm that closed in December of last year, and this note repayment, we believe are well-positioned for growth in 2019.”
About Cosmos Holdings, Inc.
Cosmos Holdings Inc. is a pharmaceutical wholesaler with offices and warehouses in Thessaloniki and Athens Greece, and in Harlow, UK. The Company has a trans-European network of over 160 clients and vendors which extends to 16 countries including: Germany, United Kingdom, Ireland, United Arab Emirates, Denmark, Italy, France, Singapore, Spain, Lebanon, Skopje, Jordan, Sweden, Poland, Netherlands, and Greece. It also has a direct pharmacy network of over 1100. More information is available at www.cosmosholdingsinc.com.
FORWARD LOOKING STATEMENTS
Except for historical information, this news release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve unknown risks, and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. Important factors that might cause any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results could differ materially from those anticipated in these forward-looking statements, if new information becomes available in the future.
Investor Relations Contact:
Steve Carr
Phone: 312-780-7211
E-mail: scarr@dresnerco.com
Cosmos Holdings, Inc. Acquires Cosmofarm Ltd.
CHICAGO, Dec. 21, 2018 (GLOBE NEWSWIRE) -- Cosmos Holdings, Inc. (OTCQB: COSM), an international pharmaceutical company, announced the closing of its acquisition of Cosmofarm Ltd (“Cosmofarm”), a privately held company located in Athens, Greece.
Founded in 1994, Cosmofarm is a fully licensed pharmaceutical wholesale company operating in the greater Athens area. The company is approved and authorized by the National Organization for Medicines under Good Distribution Practices to distribute a comprehensive range of pharmaceutical products. Cosmofarm’s core activity is sourcing, procuring and distributing branded and generic medicines, over-the-counter (OTC) pharmaceuticals, food supplements, and medical devices to its growing network of more than 1130 pharmacies. The company maintains a vast supplier network of approximately 250 pharmaceutical manufacturers and wholesalers and had sales of about $14 million in FY2017.
“We are excited to announce the closing of this acquisition and to have Cosmofarm’s talented team become part of Cosmos Holdings,” Cosmos Holdings CEO Gregory Siokas commented. “Cosmofarm is a rapidly growing wholesaler that shares our values of innovation and high-quality distribution. To accommodate its growing operations, the company is relocating to a new 32,000 sq. feet facility that features a fully integrated robotic fulfillment center powered by ROWA® and offers 20 times the capacity of the old warehouse. Cosmofarm will play a key role in increasing sales of our SkyPremium Life product line to pharmacies.”
About Cosmos Holdings, Inc.
Cosmos Holdings Inc. is a pharmaceutical wholesaler with offices and warehouses in Thessaloniki, Greece and in Harlow, UK. The Company has a trans-European network of over 160 clients and vendors which expands to 16 countries including: Germany, United Kingdom, Ireland, United Arab Emirates, Denmark, Italy, France, Singapore, Spain, Lebanon, Skopje, Jordan, Sweden, Poland, Netherlands, and Greece. More information is available at www.cosmosholdingsinc.com.
FORWARD LOOKING STATEMENTS
Except for historical information, this news release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve unknown risks, and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. Important factors that might cause such differences are discussed in the Company's filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results could differ materially from those anticipated in these forward-looking statements, if new information becomes available in the future.
Cosmos Holdings, Inc. Acquires Cosmofarm Ltd.
CHICAGO, Dec. 21, 2018 (GLOBE NEWSWIRE) -- Cosmos Holdings, Inc. (OTCQB:COSM), an international pharmaceutical company, announced the closing of its acquisition of Cosmofarm Ltd ("Cosmofarm"), a privately held company located in Athens, Greece.
Founded in 1994, Cosmofarm is a fully licensed pharmaceutical wholesale company operating in the greater Athens area. The company is approved and authorized by the National Organization for Medicines under Good Distribution Practices to distribute a comprehensive range of pharmaceutical products. Cosmofarm's core activity is sourcing, procuring and distributing branded and generic medicines, over-the-counter (OTC) pharmaceuticals, food supplements, and medical devices to its growing network of more than 1130 pharmacies. The company maintains a vast supplier network of approximately 250 pharmaceutical manufacturers and wholesalers and had sales of about $14 million in FY2017.
"We are excited to announce the closing of this acquisition and to have Cosmofarm's talented team become part of Cosmos Holdings," Cosmos Holdings CEO Gregory Siokas commented. "Cosmofarm is a rapidly growing wholesaler that shares our values of innovation and high-quality distribution. To accommodate its growing operations, the company is relocating to a new 32,000 sq. feet facility that features a fully integrated robotic fulfillment center powered by ROWA® and offers 20 times the capacity of the old warehouse. Cosmofarm will play a key role in increasing sales of our SkyPremium Life product line to pharmacies."
About Cosmos Holdings, Inc.
Cosmos Holdings Inc. is a pharmaceutical wholesaler with offices and warehouses in Thessaloniki, Greece and in Harlow, UK. The Company has a trans-European network of over 160 clients and vendors which expands to 16 countries including: Germany, United Kingdom, Ireland, United Arab Emirates, Denmark, Italy, France, Singapore, Spain, Lebanon, Skopje, Jordan, Sweden, Poland, Netherlands, and Greece. More information is available at www.cosmosholdingsinc.com.
FORWARD LOOKING STATEMENTS
Except for historical information, this news release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve unknown risks, and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. Important factors that might cause such differences are discussed in the Company's filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results could differ materially from those anticipated in these forward-looking statements, if new information becomes available in the future.
Ticker COSM OTCQB - Cosmos Holdings Inc 30M in Revenue 2017 and 29M in 2018 3 quarters in.
Q3 2018 Summary
Net Profit improved 1,718% to $3.2 million compared to the three months ended September 30, 2017
CHICAGO, Nov. 14, 2018 (GLOBE NEWSWIRE) -- Cosmos Holdings, Inc. ("the Company") (OTCQB: COSM), an international pharmaceutical company, announced consolidated financial results for the quarter ended and nine-months ended September 30, 2018.
Financial Highlights
Operating revenues were $29.3 million for the nine months ended September 30, 2018, a 48% increase, as compared to $19.8 million for the same period the prior year.
For the three months ended September 30, 2018, the gross profit margin increased to 9.3% from 8.1% for the same period in 2017.
For the nine months ended September 30, 2018 gross profit increased 30% to $2.1 million from $1.6 million for the same period the prior year.
Total operating expenses decreased to $2.3 million for the nine months ended September 30, 2018, from $4.4 million for the same period in 2017, which corresponds to a 48% drop year over year.
Total comprehensive gain was $4.5 million for the three months ended September 30, 2018, a 1,907% increase, as compared to a loss of $250 thousand for the same period in 2017.
Net profit increased to $3.2 million for the three months ended September 30, 2018, a 1,718% increase, as compared to a loss of $198 thousand for the same period in 2017.
For the three months ended September 30, 2018, net income per share was $0.24, as compared to a $0.02 net loss per share on a fully diluted basis for the same period of the prior year.
About Cosmos Holdings, Inc.
Cosmos Holdings Inc. is an international pharmaceutical company focused on identifying, acquiring, developing, and commercializing medicines to improve patients' lives and outcomes. Cosmos Holdings has offices and distribution centers in Thessaloniki, Greece & In Harlow, UK. More information is available at www.cosmosholdingsinc.com.
Cosmos Holdings, Inc. takes no responsibility for updating the information contained in this press release following the date hereof to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events or for any changes or modifications made to this press release or the information contained herein by any third-parties, including, but not limited to, any wire or internet services.
FORWARD LOOKING STATEMENTS
Except for historical information, this news release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve unknown risks, and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. Important factors that might cause such differences are discussed in the Company's filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results could differ materially from those anticipated in these forward-looking statements, if new information becomes available in the future.
Cosmos Holdings, Inc. Welcomes Dr. Ioannis Dedes MD to Its Advisory Board
Cosmos Holdings, Inc. ("the Company") (OTCQB: COSM), an international pharmaceutical company, announced that it has added to its advisory board - Dr. Ioannis Dedes, MD an Interventional Radiologist and Interventional Oncologist. Dr. Dedes is a founding member of the Society of Interventional Oncology (SIO), and Director of Endovascular Interventional Radiology Department at Interbalkan European Medical Center located in Thessaloniki, Greece.
“Dr. Ioannis Dedes brings a wealth of experience to our group,” said Grigorios Siokas, Chief Executive Officer of Cosmos Holdings. “Dr. Dedes’s addition to our board will provide strategic and tactical support to our enterprise healthcare process, as well as our business development.”
Dr. Ioannis Dedes stated: “I am grateful for the opportunity to be part of the Cosmos Holdings team and excited about the future of the Company.”
About Cosmos Holdings, Inc.
Cosmos Holdings Inc. is an international pharmaceutical company focused on identifying, acquiring, developing, and commercializing medicines to improve patients' lives and outcomes. Cosmos Holdings has offices and distribution centers in Thessaloniki, Greece & in Harlow, UK. More information is available at www.cosmosholdingsinc.com.
FORWARD LOOKING STATEMENTS
Except for historical information, this news release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve unknown risks, and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. Important factors that might cause such differences are discussed in the Company's filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results could differ materially from those anticipated in these forward-looking statements, if new information becomes available in the future.
Cosmos Holdings, Inc. Adds Distinguished Member to Its Advisory Board to Fuel International Growt
CHICAGO, Nov. 21, 2018 (GLOBE NEWSWIRE) -- Cosmos Holdings, Inc. ("the Company") (OTCQB:COSM), an international pharmaceutical company, announced that it has added a new member to its advisory board. Mr. Anastasios Tzikas is the president of several organizations including: Thessaloniki International Fair HELEXPO SA, Federation of Hellenic Information Technology & Communications (SEPE), and Technopolis Thessaloniki ICT Business Park. He is also one of the founders & former CEO of Singular Northern Greece SA, one of the largest software vendor and integrated IT solutions group in Greece and Balkans area.
"Anastasios Tzikas brings a wealth of expertise and experience to our company," said Grigorios Siokas, Chief Executive Officer of Cosmos Holdings. "His tenure as former CEO of a listed multinational company and as president of well-recognized organizations makes him a great addition to our advisory board. We are excited to welcome him to the Cosmos team and look forward to his insight and contribution to our strategy for healthcare IT solutions.
New advisory board member Anastasios Tzikas stated: "Cosmos Holding Inc. is a vibrant international company, with an emphasis on innovation and extroversion. It is therefore a major challenge for me to personally assist this company in integrating new technologies into its core business and developing synergies in the sectors of e-health and biotech."
About Cosmos Holdings, Inc.
Cosmos Holdings Inc. is an international pharmaceutical company focused on identifying, acquiring, developing, and commercializing medicines to improve patients' lives and outcomes. Cosmos Holdings has offices and distribution centers in Thessaloniki, Greece & in Harlow, UK. More information is available at www.cosmosholdingsinc.com.
FORWARD LOOKING STATEMENTS
Except for historical information, this news release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve unknown risks, and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. Important factors that might cause such differences are discussed in the Company's filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results could differ materially from those anticipated in these forward-looking statements, if new information becomes available in the future.
cosm
Cosmos Holdings, Inc. Announces Q3 Fiscal Year 2018 Financial and Operating Results
Operating revenues were $29.3 million for the nine months ended September 30, 2018, a 48% increase, as compared to $19.8 million for the same period the prior year. Read all the highlights in the company press release.
https://globenewswire.com/news-release/2018/11/14/1651362/0/en/Cosmos-Holdings-Inc-Announces-Q3-Fiscal-Year-2018-Financial-and-Operating-Results.html
cosm
Net Profit improved 1,718% to $3.2 million
Cosmos Holdings, Inc. Announces Q3 Fiscal Year 2018 Financial and Operating Results
https://globenewswire.com/news-release/2018/11/14/1651362/0/en/Cosmos-Holdings-Inc-Announces-Q3-Fiscal-Year-2018-Financial-and-Operating-Results.html
CHICAGO, Nov. 14, 2018 (GLOBE NEWSWIRE) -- Cosmos Holdings, Inc. ("the Company") (OTCQB: COSM), an international pharmaceutical company, announced consolidated financial results for the quarter ended and nine-months ended September 30, 2018.
Financial Highlights
Operating revenues were $29.3 million for the nine months ended September 30, 2018, a 48% increase, as compared to $19.8 million for the same period the prior year.
For the three months ended September 30, 2018, the gross profit margin increased to 9.3% from 8.1% for the same period in 2017.
For the nine months ended September 30, 2018 gross profit increased 30% to $2.1 million from $1.6 million for the same period the prior year.
Total operating expenses decreased to $2.3 million for the nine months ended September 30, 2018, from $4.4 million for the same period in 2017, which corresponds to a 48% drop year over year.
Total comprehensive gain was $4.5 million for the three months ended September 30, 2018, a 1,907% increase, as compared to a loss of $250 thousand for the same period in 2017.
Net profit increased to $3.2 million for the three months ended September 30, 2018, a 1,718% increase, as compared to a loss of $198 thousand for the same period in 2017.
For the three months ended September 30, 2018, net income per share was $0.24, as compared to a $0.02 net loss per share on a fully diluted basis for the same period of the prior year.
Commenting on the Company’s quarterly performance, Grigorios Siokas, Chief Executive Officer of Cosmos Holdings Inc., stated, “I am delighted to announce that the Company delivered record quarterly net profit and increased gross profit margins. In addition, during this quarter the Company has strengthened its balance sheet and improved stockholders’ equity. We continue to work towards uplisting onto a national securities exchange. We maintain our strong focus on organic growth and strategic acquisitions, starting with the pending closing of Cosmofarm LLC and continuing to look towards acquisition targets in Central Europe and North America.”
About Cosmos Holdings, Inc.
Cosmos Holdings Inc. is an international pharmaceutical company focused on identifying, acquiring, developing, and commercializing medicines to improve patients' lives and outcomes. Cosmos Holdings has offices and distribution centers in Thessaloniki, Greece & In Harlow, UK. More information is available at www.cosmosholdingsinc.com.
Cosmos Holdings, Inc. takes no responsibility for updating the information contained in this press release following the date hereof to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events or for any changes or modifications made to this press release or the information contained herein by any third-parties, including, but not limited to, any wire or internet services.
FORWARD LOOKING STATEMENTS
Except for historical information, this news release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve unknown risks, and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. Important factors that might cause such differences are discussed in the Company's filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results could differ materially from those anticipated in these forward-looking statements, if new information becomes available in the future.
Investor Relations contact:
Andrew Barwicki
516-662-9461 / Andrew@barwicki.com
COSM - OTCQB - Acquisition
Cosmos Holdings, Inc. Enters into Share Purchase Agreement to acquire Cosmofarm Ltd.
Cosmos Holdings, Inc. (OTCQB:COSM), an international pharmaceutical company, announced the Company signed a Share Purchase Agreement to acquire 100% of the shares of Cosmofarm Ltd (“Cosmofarm”), a privately held company located in Athens, Greece.
Cosmofarm is a fully licensed pharmaceutical wholesale company, located in the vast area of Athens since 1983. The company is approved and authorized by the National Organization for Medicines under Good Distribution Practices to distribute a variety of pharmaceutical products. More specifically, the core activity business of Cosmofarm is the purchase, sale and distribution of branded and generic medicines, Over the Counter (OTC) products, nutraceuticals and several medical devices and products. Cosmofarm has an active clientele network of more than 320 pharmacies and clinics, and over 250 vendors of pharmaceutical and wholesale companies.
Cosmos Holdings CEO Gregory Siokas commented, “The acquisition of Cosmofarm allows us to expand our network and vertically integrate our operations for maximum sales opportunities, while benefitting from lowering our costs from an operational standpoint. The integration of Cosmofarm has been carefully planned and selected mainly because of the synergistic actions that are in place with our current subsidiaries and the significant added value that it should bring into our group.”
The closing of the acquisition is expected to occur during the third quarter of this year.
Financial details have not been disclosed.
About Cosmos Holdings, Inc.
Cosmos Holdings Inc. is a pharmaceutical wholesaler with offices and warehouses in Thessaloniki, Greece and in Harlow, UK. The Company has a trans-European network of over 110 clients and vendors which expands to 16 countries including: Germany, United Kingdom, Ireland, United Arab Emirates, Denmark, Italy, France, Singapore, Spain, Lebanon, Skopje, Jordan, Sweden, Poland, Netherlands, and Greece. More information is available at www.cosmosholdingsinc.com.
FORWARD LOOKING STATEMENTS
Except for historical information, this news release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve unknown risks, and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. Important factors that might cause such differences are discussed in the Company's filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results could differ materially from those anticipated in these forward-looking statements, if new information becomes available in the future.
COSM - OTCQB
Cosmos Holdings, Inc. ("the Company") (OTCQB:COSM), an international pharmaceutical company, has submitted its formal application to list the company's common stock on the NASDAQ Capital Market.
Cosmos Holdings CEO Gregory Siokas commented, "We believe up-listing to NASDAQ will increase awareness of Cosmos Holdings in the financial community. This process to up-list to NASDAQ reflects the significant progress we have made in strengthening our corporate governance, improving operating efficiencies, and positioning the company for growth and profitability. In addition to improving trading liquidity for our shareholders, we expect this listing to provide greater awareness of our unique approach in the international pharmaceutical market, and enable us to attract a broader audience in the investment community.”
Acceptance for listing Company shares is subject to approval, in part, based on the Company's ability to meet minimum NASDAQ listing requirements. While the Company intends to satisfy all of NASDAQ's listing criteria, no assurance can be given that its application will be approved. During the NASDAQ review process, the Company's common stock will continue to trade on the OTCQB under its current symbol, COSM.
About the NASDAQ
The NASDAQ is global electronic marketplace for buying and selling securities. It was created by the National Association of Securities Dealers (NASD) to enable investors to trade securities on a computerized, speedy and transparent system. For more about the NASDAQ, go to www.nasdaq.com.
About Cosmos Holdings, Inc.
Cosmos Holdings Inc. is a pharmaceutical wholesaler with offices and warehouses in Thessaloniki, Greece and in Harlow, UK. The Company has a trans-European network of over 110 clients and vendors which expands to 16 countries including: Germany, United Kingdom, Ireland, United Arab Emirates, Denmark, Italy, France, Singapore, Spain, Lebanon, Skopje, Jordan, Sweden, Poland, Netherlands, and Greece. More information is available at www.cosmosholdingsinc.com.
FORWARD LOOKING STATEMENTS
Except for historical information, this news release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve unknown risks, and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. Important factors that might cause such differences are discussed in the Company's filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results could differ materially from those anticipated in these forward-looking statements, if new information becomes available in the future.
Ticker COSM - OTCQB
Cosmos Holdings, Inc. Enters into Share Purchase Agreement to acquire Cosmofarm Ltd.Press Release | 07/02/2018
CHICAGO, July 02, 2018 (GLOBE NEWSWIRE) -- Cosmos Holdings, Inc. (OTCQB:COSM), an international pharmaceutical company, announced the Company signed a Share Purchase Agreement to acquire 100% of the shares of Cosmofarm Ltd (“Cosmofarm”), a privately held company located in Athens, Greece.
Cosmofarm is a fully licensed pharmaceutical wholesale company, located in the vast area of Athens since 1983. The company is approved and authorized by the National Organization for Medicines under Good Distribution Practices to distribute a variety of pharmaceutical products. More specifically, the core activity business of Cosmofarm is the purchase, sale and distribution of branded and generic medicines, Over the Counter (OTC) products, nutraceuticals and several medical devices and products. Cosmofarm has an active clientele network of more than 320 pharmacies and clinics, and over 250 vendors of pharmaceutical and wholesale companies.
Cosmos Holdings CEO Gregory Siokas commented, “The acquisition of Cosmofarm allows us to expand our network and vertically integrate our operations for maximum sales opportunities, while benefitting from lowering our costs from an operational standpoint. The integration of Cosmofarm has been carefully planned and selected mainly because of the synergistic actions that are in place with our current subsidiaries and the significant added value that it should bring into our group.”
The closing of the acquisition is expected to occur during the third quarter of this year.
Financial details have not been disclosed.
About Cosmos Holdings, Inc.
Cosmos Holdings Inc. is a pharmaceutical wholesaler with offices and warehouses in Thessaloniki, Greece and in Harlow, UK. The Company has a trans-European network of over 110 clients and vendors which expands to 16 countries including: Germany, United Kingdom, Ireland, United Arab Emirates, Denmark, Italy, France, Singapore, Spain, Lebanon, Skopje, Jordan, Sweden, Poland, Netherlands, and Greece. More information is available at www.cosmosholdingsinc.com.
FORWARD LOOKING STATEMENTS
Except for historical information, this news release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve unknown risks, and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. Important factors that might cause such differences are discussed in the Company's filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results could differ materially from those anticipated in these forward-looking statements, if new information becomes available in the future.
Ticker COSM OTCQB
Cosmos Holdings Submits Application for NASDAQ Capital Market Up-ListingPress Release | 06/25/2018
CHICAGO, June 25, 2018 (GLOBE NEWSWIRE) -- Cosmos Holdings, Inc. ("the Company") (OTCQB:COSM), an international pharmaceutical company, has submitted its formal application to list the company's common stock on the NASDAQ Capital Market.
Cosmos Holdings CEO Gregory Siokas commented, "We believe up-listing to NASDAQ will increase awareness of Cosmos Holdings in the financial community. This process to up-list to NASDAQ reflects the significant progress we have made in strengthening our corporate governance, improving operating efficiencies, and positioning the company for growth and profitability. In addition to improving trading liquidity for our shareholders, we expect this listing to provide greater awareness of our unique approach in the international pharmaceutical market, and enable us to attract a broader audience in the investment community.”
Acceptance for listing Company shares is subject to approval, in part, based on the Company's ability to meet minimum NASDAQ listing requirements. While the Company intends to satisfy all of NASDAQ's listing criteria, no assurance can be given that its application will be approved. During the NASDAQ review process, the Company's common stock will continue to trade on the OTCQB under its current symbol, COSM.
About the NASDAQ
The NASDAQ is global electronic marketplace for buying and selling securities. It was created by the National Association of Securities Dealers (NASD) to enable investors to trade securities on a computerized, speedy and transparent system. For more about the NASDAQ, go to www.nasdaq.com.
About Cosmos Holdings, Inc.
Cosmos Holdings Inc. is a pharmaceutical wholesaler with offices and warehouses in Thessaloniki, Greece and in Harlow, UK. The Company has a trans-European network of over 110 clients and vendors which expands to 16 countries including: Germany, United Kingdom, Ireland, United Arab Emirates, Denmark, Italy, France, Singapore, Spain, Lebanon, Skopje, Jordan, Sweden, Poland, Netherlands, and Greece. More information is available at www.cosmosholdingsinc.com.
FORWARD LOOKING STATEMENTS
Except for historical information, this news release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve unknown risks, and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. Important factors that might cause such differences are discussed in the Company's filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results could differ materially from those anticipated in these forward-looking statements, if new information becomes available in the future.
Ticker COSM - OTCQB
Cosmos Holdings, Inc. Announces Q2 Fiscal Year 2018 Financial and Operating ResultsPress Release | 08/16/2018
CHICAGO, Aug. 16, 2018 (GLOBE NEWSWIRE) -- Cosmos Holdings, Inc. ("the Company") (OTCQB: COSM), an international pharmaceutical company, announced financial results for the quarter ended June 30, 2018.
Financial Highlights for the three months ended June 30, 2018:
Revenues were $8.8 million, a 45% increase, as compared to $6.1 million for the same period the prior year.
Gross profit was $702 thousand, a 46% increase, as compared to $480 thousand for the same period the prior year.
Net profit was $782 thousand for the three months ended June 30, 2018, as compared to net loss of $839 thousand for the same period the prior year.
Financial Highlights for the six months ended June 30, 2018:
Revenues were $20.8 million, a 103.5% increase, as compared to $10.2 million for the same period the prior year.
Gross profit was $1.3 million, a 55% increase, as compared to $843 thousand for the same period the prior year.
Grigorios Siokas, Chief Executive Officer commented, “I am pleased to announce the first half of this year was filled with opportunities for us due to the aggressive sales and marketing efforts we implemented in 2017. We continued to introduce our product lines to our target markets and through these efforts we’ve been focusing on numerous applications to enhance our knowledge of the challenges encountered in these markets that require innovative solutions where our pharmaceutical products are in demand. We are excited about our growth prospects for the future.”
About Cosmos Holdings, Inc.
Cosmos Holdings Inc. is a pharmaceutical company focused on identifying, acquiring, developing, and commercializing medicines to improve patients' lives and outcomes. Cosmos Holdings has offices and distribution centers in Thessaloniki, Greece & In Harlow, UK. More information is available at www.cosmosholdingsinc.com.
FORWARD LOOKING STATEMENTS
Except for historical information, this news release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve unknown risks, and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. Important factors that might cause such differences are discussed in the Company's filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results could differ materially from those anticipated in these forward-looking statements, if new information becomes available in the future.