Endexx Corporation (OTC: EDXC) Competes Successfully In Vaping Market Internationally With Hyla Brand Non-Nicotine Vaping From Guarana-Plant Based In $7.43 Billion Market Growing At A 27.3% CAGR; EDXC Plans For Placement In19 Countries By End Of 2022
Endexx Corporation (OTC: EDXC) is well positioned and growing successfully in the $7.3 billion international market with its Non-Nicotine Vaping brand from its Hyla subsidiary’s Guarana-based product. The Company is planning for placement in up to19 countries by the end of 2022, Nick Mehdi, Hyla CEO, says. The Company has initiated marketing approvals in eight new countries — including Germany, Israel and Italy. The takeover of Hyla meshes with the EDXC existing strategy of marketing a complete and natural wellness line of skincare products. According to Grand View Research, a fast 27.3% CAGR growth rate through 2028, will enable the international market to expand to $40.25 billion by 2028.
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The new countries where marketing approvals have been initiated include: Germany, Italy, Israel, Egypt, Slovenia, Romania, Iran and Bahrain. These eight new country markets if approved will be added to Hyla’s currently active markets including the US, Canada, Czech Republic, Georgia, Russia, Slovakia, South Africa, Switzerland, United Arab Emirates, the U.K., and Uzbekistan, the company says.
In addition to the Hyla brand of non-nicotine vaping, EDXC also markets a complete line of skincare products including balms, creams, lotions, butters, masks, scrubs and oils. The goal is healthy skin and grooming wellness. Formulations have ingredients designed for optimal absorption and support of skin health.
This dovetails with the Company’s acquisition and marketing of safe, non-nicotine plant based vaping utilizing the Guarana plant.
Nick Mehdi, Hyla CEO, commented, “With more than 1,000 stores carrying the (Hyla vaping product) in the U.S., and the potential to expand our market penetration to as many as 19 countries by the end of 2022, we are excited to add our product line to the already strong retail presence Endexx maintains.”
Grand View Research finds that international vaping now is dominated by 84% from retail stores — it anticipates that online segment is expected to register the fastest growth over the forecast period, from 2021-2028.
EDXC believes its acquisition of controlling interest in Hyla will expand its international distribution and mean a “significant increase in the company’s consolidated revenue. Endexx further states that the Hyla proprietary device produces an unprecedented number of 4,500 puffs per device. Its 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.
The Company added, “The Hyla acquisition continues to be an important milestone for Endexx as it not only has provided additional revenue — which we expect to experience immediately — and new international distribution for both our CBD Unlimited and Blesswell™ product lines, but it also significantly clears the overhang from our balance sheet. This consolidation and simplification of our debt structure will enable us to fund our operations more easily, and create future growth, unencumbered by complex and potentially toxic debt.”
EDXC also says the acquisition ‘significantly improves’ its balance sheet by removing overhang through reduction of promissory obligations and cancellation of warrants. For additional information on the acquisition, please see Endexx’s recent Form 8-K filing.
Source: Stock Market Press
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