PURA Anticipates Sustained 2020 Revenue Growth From CBD Product Sales
Dallas, Texas--(Newsfile Corp. - May 15, 2020) - Puration, Inc. (OTC Pink: PURA) today announced publishing its 2019 annual financial report. The company realized 121% annual revenue growth reporting over $2.7 million for the year ended December 31, 2018 compared to $1.2 million for the year ended December 31, 2019. In addition to achieving continued high revenue growth, the company reported over $200,0000 in net profit.
PURA has sustained high revenue growth since introducing its EVERx CBD Sports Water early in 2018. Management anticipates sustained growth in 2020 and plans to soon report the company's first quarter results for 2020.
PURA plans to publish a management narrative update review of the 2019 financial results in more detail next week on Tuesday, May 19th 2020. The management update will include a 2020 outlook.
In addition to seeing the continued expansion of EVERx CBD Sports Water sales, in January of this year, 2020, PURA launched a campaign to acquire CBD beverage, edible and topical businesses to include CBD businesses that targeted pet products. The campaign was intended to target a robust market of creative and promising young companies starved for investment in the waning 2019 cannabis capital market. PURA has acquired a CBD confections company and a CBD pet products company so far this year.
In February, PURA secured a $5 million investment to fund. The $5 million investment is structured as debt facility whereby funds can be drawn as needed to fund acquisitions. The drawn funds would be secured by the acquired asset and the debt can be repaid in stock at $0.10 per share. PURA management is actively pursuing additional investment to increase the potential of the current acquisition campaign.
PURA targets CBD product acquisitions that can be enhanced with PURA's patented technology. PURA owns a license to a U.S. Patented cannabis extraction process backed by extensive university medical research. The license, issued by NCM Biotech, is exclusive for beverages, edibles and cosmetics among other uses. NCM Biotech is focused on medical research and Puration has access to that research. See a recent research report on CBD extracts derived from NCM Biotech's patented extraction process: Journal of Cannabis Research.
PURA plans to publish a management narrative update review 2019 financial results in more detail next week on Tuesday, May 19th 2020. The management update will include a 2020 outlook.
For more information on Puration, visit https://www.purationinc.com.