KALY’s current revenues come primarily from the sale of CBD infused products that have utilized KALY’s U.S. Patented Cannabis Extraction Process.
DALLAS, Nov. 29, 2019 (GLOBE NEWSWIRE) — via OTC PR WIRE — Kali-Extracts, Inc. (Kali, Inc. dba/Kali-Extracts, Inc.) (USOTC: KALY) (“KALY”) today announced that it anticipates reaching $1 million in revenue by year end 2019 with the contribution of its first hemp extraction contracts being realized in the fourth quarter of 2019.
Earlier this week, the company published a financial performance update in conjunction with KALY’s financial performance report through September 30, 2019.
KALY’s current revenues come primarily from the sale of CBD infused products that have utilized KALY’s U.S. Patented Cannabis Extraction Process. KALY produces its own line of CBD infused candies under the Hemp4mula brand name. Hemp4mula includes both CBD Gum and CBD Gummies. Both are available at www.USMJ.com.
KALY has also licensed its Patented Cannabis Extraction Process for the production of CBD and cannabis-infused beverages. KALY has reported $173,300 for the three-month period ending September 30, 2019. KALY’s year to date revenue through the period ending September 30, 2019 exceeds $300,000. The company’s operation is profitable.
After executing its first CBD extraction contracts with hemp farming operations and commencing its first harvesting and extraction efforts, management anticipates a substantial addition to sales in the fourth quarter adding to ongoing sales generated from CBD infusion into candies and beverages that could bring the company close to or over $1 million in sales for 2019.KALY’s infusion and extraction business supplements the company’s primary cannabis biopharmaceutical technology development objectives.
To date, KALY has an intellectual property portfolio that contains a deep pipeline of cannabinoid biopharmaceutical product candidates including four distinct compounds listed here:
Chronic Obstructive Pulmonary Disease (COPD) – The market for COPD treatment is anticipated to reach $14 billion by 2025;
Type 2 Diabetes – The market for Type 2 Diabetes is expected to be a $64 billion market by 2026;
Cancer Pain Management – The overall pain management treatment market is anticipated to reach $83 billion by 2024, and
Epilepsy – The market for epilepsy treatment is anticipated to reach $9 billion by 2022.In conjunction with the research already conducted and the next phase of research now moving forward, KALY recently filed for a new patent application specifically on its formulation for symptoms associated with COPD and other similar respiratory conditions.
KALY also filed for a trademark on the name RespRx as the brand name for its CBD formulation to treat the symptoms associated with COPD and other similar respiratory conditions. The market for COPD treatment is anticipated to reach $14 billion by 2025. In addition to KALY’s ongoing efforts to develop prescription therapies, KALY has initiated a program to certify its proprietary CBD extracts derived from KALY’s U.S. Patented Extraction Process as an Over-The-Counter (OTC) drug under the requirements prescribed by the U.S. Food and Drug Administration. KALY has recently announced receiving two inquiries into the acquisition of the company’s cannabis biopharmaceutical technology valuing the technology at $50 million.
KALY management is entertaining the inquiries but indicates that the $50 million valuation is too low. Doctors working with KALY on the treatment developments have compared KALY’s technology to GW Pharmaceuticals’ and indicated the KALY solutions could be superior to GW Pharma’s. KALY management has also recently announced that in addition to entertaining the two acquisition opportunities that could infuse financing that accelerates its cannabis extract biopharmaceutical technology developments, that the company is introducing a third option that would not involve a sale of KALY’s biopharmaceutical technology asset, but would otherwise restructure the asset within KALY’s current corporate structure to facilitate a major infusion of investment capital. KALY management plans to finalize the third option plans within the next two weeks and make them public.KALY is currently endeavoring to update its status with OTC Markets. In the meantime, KALY self-discloses at www.kaly-info.com. The financial report for the three-month period ending September 30, 2019 can be found at www.kaly-info.com/Q3-RPT.
To stay abreast of the latest developments and learn more about the company visit https://www.kali-extracts.com/.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and as such, may involve risks and uncertainties. These forward looking statements relate to, amongst other things, current expectation of the business environment in which the company operates, potential future performance, projections of future performance and the perceived opportunities in the market. The company’s actual performance, results and achievements may differ materially from the expressed or implied in such forward-looking statements as a result of a wide range of factors.