Mr. Andrew Alvis reports
ISODIOL INTERNATIONAL INC. PROVIDES SHAREHOLDER UPDATE
Isodiol International Inc. has provided an update.
To all shareholders,
To describe fiscal 2020 as a dynamic year is an understatement. The company achieved strong revenue growth during the year, only to have this positive momentum halted during the last several months by a few small, however significant, impacts of supply and demand. With the ever-evolving hemp cannabidiol market coupled with the passing of the 2018 farm bill, which enables farmers to grow hemp for cannabidiol oil cultivation, afforded many newcomers the ability to enter the space. Unfortunately, this increased competition had an adverse effect on the bulk ingredient pricing model, resulting in record low margins across the industry and, ultimately, forcing a pivot in our sales strategies and operations to focus on branded finished products. Isodiol will continue as a recognized leader in the bulk ingredient supply chain, while rebalancing efforts to gain market share as a finished product innovator across all of our brands. This pivot enables us to properly focus our attention on the foundation in which Isodiol was originally established, to be the leader in sales, marketing and distribution of finished goods across the industry.
The many growing pains that Isodiol experienced over the last year are to be expected when quickly rising to the top of a continuously maturing market. Our initiative to reduce expenses through streamlining operations, as well as realigning our efforts to focus on the changing landscape of the industry, will position Isodiol for stabilization through long-term revenue growth. Furthermore, I recognize that the divesture of certain subsidiaries and how these were managed had a negative impact on shareholder confidence, while at the same time, I am confident that the knowledge gained and lessons learned will continue to be leveraged in reshaping the company.
With that said, Isodiol will continue to expand into new markets and product offerings to increase customer acquisition and retention across our integrated platform, solely focused on providing the highest-quality products in full transparency with a consistent and seamless customer experience. In addition, we will continue to expand our retail footprint with partnerships, like Vitamin Shoppe and Holland & Barrett, and other distribution channels to drive brand awareness and value to our own in-house signature brands, such as Iso-Sport, Pot-O-Coffee and Pawceuticals.
For our international brands, both Purodiol and Isodiolex continue to outpace the market, driven by significant increases in patient demand in Brazil and other Latin American emerging markets. In addition, Brazil is making significant progress on import regulations, and soon Isodiol will have access to the benefits of an open border. Through our partnerships in Latin America and abroad, we will continue to focus our efforts on product education and brand awareness as key strategies for Isodiol's international expansion.
In conclusion, as our strategy and direction continue to evolve, it is important to understand what our vision is for the company. Our No. 1 priority is to create shareholder value by putting our resources to work in an efficient manner, while continuously focusing on meeting and exceeding the expectations of our customers. Additionally, at Isodiol, our decisions are heavily skewed toward long-term growth, rather than quarter-to-quarter results. As a result, there may be short-term bumps along the way, but we remain confident that we can continue to achieve attractive returns for those investors who wish to join us for the long term. We are grateful: for the continued loyalty to our brands; for our customers; and to our employees for their steadfast efforts in growing these opportunities into material contributions for the future growth of our company. We will do our utmost to realize that potential in the new year and beyond.
Andrew S. Alvis, president of Isodiol International
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 packaged goods and solutions. Isodiol's growth strategy includes the development of over-the-counter and pharmaceutical drugs as well as continued international expansion into Latin America, Asia and Europe.
We seek Safe Harbor.
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