PURA currently has over $1 million in annualized revenue primarily from the sales of its EVERx CBD Sports Water.
DALLAS, June 04, 2019 (GLOBE NEWSWIRE) — via OTC PR WIRE — Puration, Inc. (USOTC: PURA) (“PURA”) today announced signing a new East Coast Distributor for its EVERx CBD Sports Water.
The distributor is headquartered in New York.
PURA currently has over $1 million in annualized revenue primarily from the sales of its EVERx CBD Sports Water.
Sales of EVERx today come primarily from the South and South West United States. PURA has announced a 2019 $4 million revenue target.
The distribution agreement announced today is PURA’s first major distribution agreement for the East Coast and it is anticipated to have EVERx on shelves from Florida to Maine. In conjunction with the agreement announced today, PURA plans to soon announce in store EVERx events at retailers on the East Coast taking place over this coming summerThe company demonstrated over a $1 million base annual revenue run rate in Q1 2019.
The company broke $1 million in sales for the 2018 fiscal year. The company also has a new $1.5 million order to produce private labeled CBD water. From the current better than $1 million annualized revenue run rate and the $1.5 million order, management is targeting $3 million in sales from existing beverage products.
PURA has a number of new products in various phases of launching from which management anticipates realizing another $1 million in target revenue making the company’s overall 2019 organic revenue target $4 million. The $4 million target does not include the potential benefit that might be realized through the execution of PURA’s M&A strategy. Management may consider revising its 2019 $4 million revenue target upwards later this year.
