SUGAR LAND, TX / ACCESSWIRE / June 17, 2020 / Thanks to the ongoing COVID-19 pandemic, Neutra Corp. (OTC PINK:NTRR) has had to postpone the issuance of its annual report. The company has announced it is currently working with auditors to finish going over Neutra's financials for the previous year and expects to complete the report shortly.
"The COVID-19 pandemic has placed a real strain on the reporting system," said Neutra CEO Sydney Jim. "We missed the deadline and for that we apologize to investors. Like all companies in these unprecedented times, auditors are working with limited resources and tight deadlines right now. We are working around the clock to get the annual report done and filed. I want to thank everyone for their patience in this matter."
Neutra has accomplished a great deal in its last fiscal year. The company made solid strides in its bid to become a vertically integrated company, able to control its supply, production and distribution. Neutra took a major step forward here with its acquisition of a Texas hemp-handling license. The company's long-term business strategy will place Neutra and its wholly-owned VIVIS subsidiary in a stronger market position poised for future success.
Another key part of this vertical integration strategy was the opening of the company's production facility in Houston earlier this year. Thanks to its new facility, VIVIS can now produce compliant, full-spectrum distillate, broad-spectrum distillate, 99%+ crystalline cannabidiol (Isolate). The company is also able to make a wider range of end-user, hemp-based CBD products, such as tinctures, gummies, lotions, salves, etc.
This wider product range should help VIVIS gain greater market share. Many experts are predicting the hemp-based CBD market will increase an annual average of 107 percent and shortly reach a size of $22 billion in the U.S.
