SANDUSKY, Ohio , Feb. 3, 2021 /PRNewswire/ -- PAO Group, Inc. (USOTC: PAOG) today highlighted its own proprietary, U.S. Patent backed, cannabis pharmaceutical technology in light of the announcement today that Jazz Pharmaceuticals plans to purchase GW Pharmaceuticals for $7.2 billion .
Last year, PAOG acquired RespRx from Kali-Extracts, Inc. (OTC Pink: KALY). RespRx is a cannabis treatment under development for Chronic Obstructive Pulmonary Disorder (COPD) derived from a patented cannabis extraction method - U.S. Patent No. 9,199,960 entitled "METHOD AND APPARATUS FOR PROCESSING HERBACEOUS PLANT MATERIALS INCLUDING THE CANNABIS PLANT."
PAOG recently announced an engagement with Veristat, Inc., a contract research organization headquartered in Southborough, Massachusetts . PAOG has engaged Veristat to assist in advancing PAOG with its proprietary Cannabidiol (CBD) extract for the treatment of Chronic Obstructive Pulmonary Disorder (COPD) toward initiating an Investigational New Drug application (IND) with the Food and Drug Administration (FDA).
PAOG management anticipates a pharmaceutical development process to be a long-term endeavor. Management is committed to pursuing complimentary initiatives that have the potential to deliver revenue and profit in a shorter time frame.
PAOG has also recently engaged with the Puerto Rico Consortium for Clinical Investigation to assist PAOG with developing its proprietary Cannabidiol (CBD) extract into a nutraceutical product to provide care for those experiencing issues associated with Chronic Obstructive Pulmonary Disorder (COPD).
Earlier today, PAOG announced the company anticipates reporting an estimated $50,000 in revenue for Q4 2020.
The revenue is anticipated from a $300,000 sales agreement executed by PAOG's cannabis cultivation subsidiary.
Last summer, PAOG acquired a cannabis cultivation business from Puration, Inc. (USOTC: PURA). The acquisition was made in conjunction with PAOG's overall cannabis pharmaceuticals strategy.
Learn more about PAOG at www.paogroupinc.com .
Forward-Looking Statements: Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b -6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.
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SOURCE PAO Group, Inc.