Growth and Strategic Expansions in 2024 With Over $3.7 Million In Assets
MELBOURNE, Fla., April 16, 2024 /PRNewswire/ -- Branded Legacy, Inc, (OTC.PK: BLEG) a leading provider of innovative wellness products, is pleased to announce a net income for the fiscal year 2023 of $3,825,527, a substantial increase driven by the strategic retirement of over 2.4 billion shares. As they forge into 2024, the company has signed multiple on-going white label contracts, poised to further enhance our revenue and profitability for the coming year and beyond.
"2023 was a year of substantial growth and strategic repositioning for Branded Legacy. As we continue to expand and innovate, our focus remains steadfast on leveraging our core strengths in biotechnology to improve human health globally," said David Oswald, CEO of Branded Legacy.
In a remarkable development, Branded Legacy has welcomed Dr. Mark T. Hamann, the Endowed Chair of Drug Discovery and Biomedical Sciences at the MUSC College of Pharmacy, to guide its forthcoming clinical trials. This follows the Company's recent strategic acquisition of Sycamore BioPharma, Inc., a distinguished developer of plant-based pharmaceuticals. This acquisition not only secured assets exceeding $2 million but also integrates key personnel vital for advancing their clinical trials.
The company's recent strategic endeavors include the acquisition of several companies, bringing over $3.7 million worth of advanced scientific equipment and inventory. This expansion has necessitated a move to a larger, state-of-the-art facility in Melbourne, FL, to accommodate their growing operations and align with their commitment to biotechnological advancement and improving human health.
The Company's total assets have seen an astronomical increase to $3,787,215.00, the majority in 2024, marking a 1,412% increase compared to the end of Q3. The newly acquired laboratory and packaging equipment significantly bolsters capacities in R&D, production, and packaging.
The extensive equipment range acquired includes High-Performance Liquid Chromatography and Gas Chromatography systems, various centrifuges, vacuum ovens, an irradiating flow hood, incubators, and more. This arsenal of advanced tools empowers the Company to conduct precise chemical analyses, foster controlled research environments, and enhance product development efficiency across various stages.
Furthering its expansion strategy, Branded Legacy, Inc. proudly announced its acquisition of MariJ Pharmaceuticals, Inc. This deal significantly broadens their asset base and intellectual property portfolio, integrating a compounding pharmacy license, state-of-the-art supercritical CO2 extraction units, and a fleet of specialized vehicles designed for mobile extraction and refinement.
This strategic acquisition delivers not only a suite of award-winning organic products and formulations but also enhances their operational flexibility and market reach through the addition of specialized vehicles and a mobile repair service. These assets are instrumental in maintaining the efficiency and reach of our operations across multiple states, including Colorado and Tennessee.
The acquisition of All In Extracts Llc. gave Branded Legacy a leg up in production of gummies, producing 20-50,000 units daily. The All In facility near Tampa, FL, has recently staged up production and refinement of mitragynine, as well as production of a proprietary dosing syrup. With several popular products under their Star Hill brand, All In Extracts is a core aspect of Branded Legacy's growing revenue.
Branded Legacy, Inc. is poised to continue its trajectory of growth, innovation, and market leadership in the biotech and wellness industries.
Original Copy of this Press Release: https://brandedlegacy.com/branded-legacy-inc-reports-significant-net-income/
For Investor Relations & Media Contact:
Joe Holladay
Branded Legacy
Phone: 321-345-3565
Email: info@brandedlegacy.com
Website: https://brandedlegacy.com/
About Branded Legacy, Inc.:
Branded Legacy, Inc. (OTC: BLEG) is a diversified holdings company focused on the biotech sector. With a commitment to excellence and innovation, Branded Legacy specializes in the development and marketing of cutting-edge products and services, including ventures in biotechnology, digital solutions, and wellness products.
Safe Harbor Statement on Forward-Looking Language:
This release includes forward-looking statements, subject to risks and uncertainties that could cause actual results to differ materially from current expectations. The company disclaims any intention or obligation to update or revise forward-looking statements. Forward-looking statements may be identified by words such as "may," "will," "expect," "believe," "anticipate," "estimate," and similar expressions.
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SOURCE Branded Legacy, Inc.
