KALY 1st Six Months 2019 Revenue Is $165,000 Compared To $46,000 Last Year.
KALY Also Reported $70,000 Operating Net Income 1st Six Months 2019. 250% Revenue Growth Results From Q4 2018 Cannabis Business Acquired Q4 2018. KALY Owns And Operates Patented Cannabis Extraction Process And Has Filed For A Second Patent On A New Biopharmaceutical CBD Formulation. Hemp Farming CBD Extraction Contracts Anticipated To Result In Even More Dramatic Revenue Growth In Second Half Of 2019. KALY Plans To Publish Website Tomorrow Dedicated To New CBD Formulation And Corresponding Patent Application. KALY Anticipates An Analyst Update To Be Published On The Company Next Week.
DALLAS, Aug. 22, 2019 (GLOBE NEWSWIRE) — via OTC PR WIRE — Kali-Extracts, Inc. (Kali, Inc. dba/Kali-Extracts, Inc.) (USOTC: KALY) (“KALY”) today announced publishing its up-to-date corporate financials through the end of Q2 2019. KALY realized $165,000 in revenue in the first six months of 2019.
The revenue results from the company’s cannabis business shift in the fourth quarter of last year. In the first six months of 2018, KALY reported only $46,000 in sales. The introduction of KALY’s new cannabis business has seen the company’s revenue grow over 250% in the first six months of 2019 compared to the first six months of 2018. KALY also realized $70,000 in operating net income in the first six months of 2019.
KALY reported only nominal operating net income in the first six months of 2018.In the fourth quarter of last year, 2018, KALY acquired NCM Biotech (NCMB). NCMB owns and operates a U.S. Patent for cannabis extraction. With the acquisition of NCMB, KALY is now primarily in the business of developing biopharmaceutical formulations from cannabis extractions for the treatment of various diseases.
KALY now has over four years of research and development behind cannabis extract formulations targeting the treatment of Chronic Obstructive Pulmonary Disease (COPD), Cancer Pain Management, Type 2 Diabetes and Epilepsy. Earlier this week, KALY announced filing a new patent application specifically on its formulation for symptoms associated with Chronic Obstructive Pulmonary Disease (COPD) and other similar respiratory conditions.
The formulation for the treatment of symptoms associated with COPD and other similar respiratory conditions has been derived from the company’s existing patented cannabis extraction process. The company has also filed to register 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.
KALY plans to publish a website on Friday, August 23rd, dedicated to its new CBD formulation, RespRx, for treating symptoms associated with Chronic Obstructive Pulmonary Disease (COPD) and other similar respiratory conditions. The RespRx website to be published Friday will include details on KALY’s recent patent and trademark applications for the RespRx CBD formulation.
KALY has implemented a long-term sustainable overall business strategy. KALY is not just relying on its biopharmaceutical development strategy alone to insure the company’s long-term success. With the popularity of cannabis extracts for infusion into various consumer products, KALY’s patented extraction process offers arguably the highest quality extract to the infusion market. KALY, through partnership and independently, has also introduced to market a number of CBD infused consumer food products. The revenue realized in the first six months of 2019 comes primarily from KALY’s various CBD infusion offerings.Drawing on KALY’s patented cannabis extraction expertise, the company has recently announced $15 million worth of extraction contracts with hemp farming operations.
KALY management anticipates even more dramatic revenue growth in the second half of 2019 as hemp harvest season approaches.KALY management is committed to providing timely disclosures consistent with OTC Markets’ Pink Current Information Alternative Reporting Standard. Shortly after executing the acquisition of NCMB and implementing a cannabis business shift, OTC Markets implemented a buyer beware flag urging caution in regard to a KALY investment. KALY management continues to work toward resolving the concerns that resulted in the flag. In the meantime, KALY management has published an alternative disclosure site in order to provide timely disclosures of the most up-to-date corporate information. The up-to-date corporate financial information referenced in this release can be found on the company’s alternative disclosure site – www.kaly-info.com.
In addition to the corporate financial disclosures, KALY’s alternative reporting site includes an analyst report on KALY’s overall business operation in addition to other useful information. In conjunction with the recent cannabis extract biopharmaceutical business updates made this week, KALY anticipates publishing an updated analyst report next week.To 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.