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Isodiol International Inc (2)
Symbol ISOL
Shares Issued 39,680,359
Close 2018-08-24 C$ 3.59
Market Cap C$ 142,452,489
Recent Sedar+ Documents

Isodiol has gross profit of $4.6-million in Q1 FY 2019

2018-09-12 02:27 ET - News Release

Mr. Marcos Agramont reports

ISODIOL INTERNATIONAL INC. REPORTS FISCAL Q1 2019 FINANCIAL RESULTS

Isodiol International Inc. had total first quarter revenue of $9.2-million, representing an approximately 240-per-cent increase over the quarter ended June 30, 2017, and an approximate 70-per-cent increase over revenues of $5.4-million in the fourth quarter of fiscal 2018.

First quarter highlights include:

  • Total revenue of $9.2-million with gross profit of $4.6-million;
  • Cash position of $11.5-million;
  • Government approval from United Kingdom's Medicines and Healthcare Products Regulatory Agency (MHRA) for pure, natural CBD (cannabidiol) as an active pharmaceutical ingredient (API);
  • Completed acquisition of KURE Corp. and also announced KURE expansion plans;
  • Binding agreement to acquire 51 per cent of Farmtiva, a cultivator of hemp with operations in California;
  • Binding agreement to acquire 51 per cent of Round Mountain Technologies, a cultivator of hemp with operations in Nevada.

Subsequent events:

  • Introduced Isoderm direct effect technology through PBS television;
  • Signed letter of intent with Pure Global Cannabis for supply of pharmaceutical and nutraceutical CBD isolates;
  • Partnership between ISO-Sport and Altis;
  • Expansion of Kure retail stores in Arizona, with the opening of seven locations in the greater Phoenix market;
  • Announced the launch of ISOCare, a secure platform for the cannabis treatment industry;
  • Announced plans to develop new hemp-based beers and functional beverages;
  • Appointed new chief financial officer, Eli Dusenbury;
  • Appointed Marvin Washington to board of directors.

"The company is proud to report another significant increase in its revenues," said chief executive officer of Isodiol Marcos Agramont. "With regulation in the United States seemingly trending towards a favourable position, the company believes it is well positioned to capitalize on upcoming opportunities with a variety of distribution channels (1). As we head towards the end of fiscal quarter two and beyond, the company will continue to focus on building its three core business strategies: nutraceutical, pharmaceutical and clinical supply of CBD ingredients; contract manufacturing of consumer products containing CBD ingredients; and total vertical integration of key revenue streams."

The unaudited condensed consolidated interim financial statements and management's discussion and analysis for the three months ended June 30, 2018, will be filed and available on SEDAR.

(1) Forbes.

About Isodiol International Inc.

Isodiol International is focused on the nutritional health benefits that are derived from hemp and is a product development, sales, marketing and distribution company of hemp-based consumer products and solutions.

Isodiol has commercialized a greater-than-99-per-cent-pure, naturally isolated CBD, including microencapsulations and nanotechnology for quality consumable and topical skin care products. Most recently, the company received approval for its CBD designated as an active pharmaceutical ingredient for use in finished pharmaceutical products, as was announced on April 26, 2018.

Isodiol's growth strategy includes the development of over-the-counter and pharmaceutical drugs and continued international expansion into Latin America, Asia and Europe.

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