LAS VEGAS, June 21, 2023 /PRNewswire/ -- Alkame Holdings, Inc. (OTC PINK: ALKM), a publicly traded diversified holding company, is pleased to provide a corporate update on the 2022 Year End.
Valued shareholders,
We would like to take this opportunity to provide a long overdue update for the close of 2022.
Alkame Holdings Inc. reported revenues of $780,000 for 2022 which were up 19% over 2021 revenues of $658,000. A net profit of $820,000 was realized for the year end 2022, by virtue of a 1-time gain of $1,430,000 for the extinguishment of debt and derivative liabilities.
Alkame revenues for co-packing fees were $658,000 and revenues for our Maury Island and Quinn's brands were $122.000, all of which came in the second half of the year. Due to supply constraints, we were unable to distribute and sell the brands' products in the first half of the year.
Last year Alkame Holdings Inc. wiped out $300,000 in our line of credit by executing a sale and leaseback of our equipment in our Salem facility, giving us access to additional capital and financial flexibility.
Key Financials:
- 2022 revenues up 19% year over year
- 2022 liabilities down over $1 million to $5.1 mil - down 17% year over year.
- 2022 co-pack revenues were $658,000.
- 2023 projected co-pack revenues $900,000 +.
- 2023 projected Maury Island and Quinn's revenues -$350,000 +.
"We are expecting co-packing revenues of over $900,000 with an additional $350,000 in Maury Island and Quinn's revenues for 2023. We got off to a late start selling the brands, but we are already seeing a strong start to 1st quarter sales. We look forward to sharing our 1st quarter report with our investors in the next month," stated Robert Eakle, CEO.
About Alkame Holdings, Inc.
Alkame Holdings, Inc. is a publicly traded diversified holding company. The Company's wholly owned subsidiaries include proprietary water technology with several unique properties, food and beverage manufacturing and co-packing, CBD /Hemp food and beverage manufacturing, and utilizes their enhanced water technology whenever applicable, along with several company owned developed and acquired consumer brands. The organization is diligently building a strong foundation through the launch and acquisition of appropriate business assets, and by pursuing multiple applications by placement into several emerging business sectors, such as consumer bottled water and RTD products, household pet products, and many other various water-based treatment solutions to both new and existing business platforms. For more information, visit www.alkameholdingsinc.com.
Alkame Holdings, Inc. Investor Relations
Website: www.alkameholdingsinc.com
Email: info@alkameholdingsinc.com
Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that Alkame will achieve significant sales, the failure to meet schedule or performance requirements of the Company's contracts, the Company's liquidity position, the Company's ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur. These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease.
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SOURCE Alkame Holdings
