As Endexx Corporation (OTC: EDXC) Enjoys Retail Sales Via Amazon (NASDAQ: AMZN), Target (NYSE: TGT), Walgreens (NASDAQ: WBA) And CVS (NYSE: CVS) With Its Newly Acquired Subsidiary Hyla’s Guarana-Based Non-Nicotine Vape Products, EDXC Simplifies Its Financial Structure With Historic Investors Removing Convertible Debt And Warrants
As Endexx Corporation (OTC: EDXC) Aggressively Sells Retailers Amazon (NASDAQ: AMZN), Target (NYSE: TGT), Walgreens (NASDAQ: WBA) And CVS (NYSE: CVS) With Its Newly Acquired Subsidiary Hyla’s Guarana-Based Non-Nicotine Vape Products, EDXC Simplifies Its Financial Structure With Historic Investors Removing Convertible Debt And Warrants. As EDXC grows at retail, it simplifyes and strengthens its balance sheet. Each Historic Investor in EDXC agreed to exchange their pre-acquisition Promissory Note and Warrants with a replacement simple Promissory Note. The result is these convertible debt and warrants are replaced by a simple, non-convertible debt facility with an 18 month term. The result is a path to future growth unencumbered by potentially toxic debt, the Company says. Look to EDXC’s newly filed Form 8-K for details.
StockMarketPress is a media company which is spotlighting the cannabis industry analyzing how growth in cannabis legalization by state in 2022 could impact companies and investors. Some of the stocks it recently reported on include Endexx Corporation (OTC: EDXC), Amazon (NASDAQ: AMZN), Target (NYSE: TGT), Walgreens (NASDAQ: WBA) And CVS (NYSE: CVS) Aurora Cannabis Inc. (NYSE:ACB) (TSX: ACB), Supreme Cannabis Co. (OTC: SPRWF), The Green Organic Dutchman (TSX: TGOD) (OTCQX: TGODF), OrganiGram Holdings Inc. (NASDAQ: OGI), Canopy Growth Corp. (NASDAQ: CGC) CBD Unlimited, Inc. (OTC PINK: EDXC).
Retail sales are key to success in the U.S. market. Selling chains and online powerhouses like Amazon (NASDAQ: AMZN) plus more than 1,000 stores such as Target (NYSE: TGT), Walgreens (NASDAQ: WBA) And CVS (NYSE: CVS), means consumers see the Hyla Vape production on the shelf — and buy it. On a distribution channel basis, some 84% of sales are controlled by retailers. Selling major chains plus Amazon is a significant success for Hyla and new parent EDXC.
In addition to growth at retail in the U.S., Hyla is seeking to initiate marketing approvals in eight new countries: Germany, Italy, Israel, Egypt, Slovenia, Romania, Iran and Bahrain.
Hyla’s initial inventory of 140,000 devices were sold out within the initial months of its availability, Endexx says. It also says the device is CE approved and has UL global safety certification.
At the same time it’s enjoying retail success, Endexx believes it has also strengthened its balance sheet. Detailed in its filing, Endexx has entered into settlement, lock-up and leak-out agreements with its Historic investors. Each Historic investor has agreed to exchange pre-acquisition Promissory Note and Warrants with a replacement simple Promissory Note. The new Historic Investor Replacement Note removed the convertible debt and warrants, replaced by a simple, non-convertible debt facility with an 18-month term. Refer to the Form 8-K for details.
Source: Stock Market Press
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