Health and Wellness Stock News - Endexx (OTCBB: EDXC) Secures Third Order for Non-Nicotine Vape Product HYLA™ Worth Approximately $1.5M in Revenue for First two Fiscal Quarters of 2023
$2.3 million in HYLA Purchase Orders Generated in Western Asia, West Coast America and Dubai in First 55 days since Acquisition
CAVE CREEK, Ariz. - October 27, 2022 (Investorideas.com Newswire) Endexx Corporation (OTCBB:EDXC), a provider of innovative, plant-derived, and sustainable health and skincare products, today announces it has secured three key significant orders for its newly acquired, non-nicotine plant-based vape product, HYLA™. These orders provide a combined $2.3 million revenue in the first two fiscal quarters.
The orders came from distributors in the Western Region in the US, a Central Asian nation and Dubai in the UAE. The first two will bring a combined approximate revenue of $827,000, with the Dubai order providing another approximately $1,500,000 in revenue during Endexx's first two fiscal quarters. The Dubai order extends over six months with potential for accelerated growth.
Todd Davis, CEO of Endexx, stated, "HYLA has been an important addition to our product offerings, while maintaining our mission statement of providing innovative, plant-based consumer products to the consumer. Importantly, this first set of orders puts us on track to recoup the investment made to acquire HYLA by the second quarter of this year, and to significantly increase our overall revenue intake.
Nick Mehdi, CEO of the Hyla division stated, "The Dubai, UAE market is very influential in identifying trends, consumer behavior and market expansion in the Mid-East." Mr. Mehdi added, "HYLA products represent the best alternative to replace Nicotine Based vape products, both internationally and here in the US." Mehdi concluded that, "The Dubai transaction opens
the entire market in the region and we anticipate significant growth in distribution."
"Combined with both our CBD pain and men's skincare products and non-CBD skincare line, we believe we are creating an important niche franchise that will appeal to an increasingly wider audience worldwide. Our distribution for our Blesswell™ line includes some of the major retailers in the nation, including Target, CVS and Amazon, and we are confident that the HYLA acquisition - in addition to generating revenue from direct sales - will also provide us additional international access. We look forward to continuing to update shareholders on our progress," concluded Mr. Davis.
About Endexx Corporation
Endexx Corporation develops and distributes all-natural, plant-derived topical skincare products. Its products vary from balms, creams, lotions, butters, masks, scrubs, and oils, all with the shared purpose of healthy skin and grooming wellness. The science behind these products involves a decade of clinical research in the field and lab work to provide functional formulation with ingredients for optimal absorption and support of skin health. www.endexx.com
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