Endexx Corporation (OTC: EDXC) Eyes ‘Strong Fiscal 2023’ As It Achieves Multi-ple Successes In Q4 2022 Including Hyla Non-Nicotine, Plant-Vaping Acquisition, Blesswell™ Line Debut In Amazon (NASDAQ: AMZN) And Target (NYSE: TGT), Expansion Globally To 13 Countries And Strengthening Of Balance Sheet
Endexx Corporation (OTC: EDXC) eyes ‘strong fiscal 2023’ as it achieves multiple successes in Q4 2022 including Hyla non-nicotine, plant-vaping acquisition, Blesswell™ line debut in Amazon (NASDAQ: AMZN) and Target (NYSE: TGT), expansion globally to 13 countries and strengthening of balance sheet. Todd Davis, CEO and Chairman of EDXC, sees the Company’s ‘significant progress’ on multiple fronts positioning EDXC for a strong fiscal 2023. “We are optimistic about the future of Endexx, as we are executing, we are already beginning to see indications of our future potential,” Davis says.
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EDXC achieved success on numerous fronts in Q4 fiscal 2022 — positioning itself for a strong fiscal 2023.
Todd Davis, EDXC CEO and Chairman, says, “The significant events of the fiscal fourth quarter have positioned ourselves to rapidly accelerate our reach within the retail segment for our skin care and pain products by establishing our presence in key retail venues. The acquisition of Hyla has further expanded our distribution network internationally. This positions us to markedly expand our revenue both through the sales and marketing of Hyla’s unique non-nicotine, guarana-based vape product, which we believe will fill an important and in-demand market niche, as well as providing us with international access to market our other product lines in those regions where HYLA has already established a presence.
“We are optimistic about the future of Exdexx, as we are executing, we are already beginning to see indications of our future potential,” Davis concluded.
Here are several of EDXC’s achievements.
- Financially, EDXC strengthened its balance sheet by entering into settlement, lock-up and leak agreements with its Historic Investors, in which each Historic Investor agreed to exchange its pre-acquisition Convertible Note and Warrants with a replacement simple Promissory Note. This new Historic Investor Replacement Note removed the convertible debt and warrants, replaced by a simple, non-convertible debt facility with an 18-month term.
- Endexx significantly expanded its international distribution network and potential revenue streams through the controlling interest acquisition of HYLA, a non-nicotine guarana-based plant vaping product available in Germany, Italy, Israel, Egypt, Slovenia, Romania, Iran and Bahrain, the U.S. (where the Hyla formulations are produced), Canada, the Czech Republic, Georgia, Russia, Slovakia, South Africa, Switzerland, the United Arab Emirates, the United Kingdom and Uzbekistan.
- For its Blesswell™ men’s skincare line, it was introduced into com and Target stores. Following Endexx’s CBD pain products availability at Walgreens and skincare at CVS, Endexx products are now available in four of the top eight retailers in the United States in over 8,000 mass retail stores nationwide.
- Also, due to Amazon distribution of Blesswell™ skin care products expanded beyond the U.S. to 13 countries. They include Australia, Belgium, Canada, France, Germany, Italy, Japan, Mexico, Netherlands, Poland, Spain, Sweden and the United Kingdom.
- Finally, Hyla secured two new purchase orders exceeding 200,000 units in the first month of joining Endexx.
For additional information on the Hyla brand non-nicotine plant-based vaping acquisition, please see Endexx’s recent Form 8-K filing.
Source: Stock Market Press
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