ENDEXX CORPORATION COM USD0.001 (OTCMKTS:EDXC) continues its advance as it announced today that it had appointed Brendon Riley as its new Director of National Commercial Accounts. He will be responsible for the CBD Unlimited Division and will lead the company’s strategy for its line of business and help drive the company’s commercial sales.
Endexx’s new CBD Unlimited Division was launched in late April 2015. The business unit specializes and operates a proprietary e-commerce site that offers phyto-cannabinoids products. These products are derived from the whole hemp plant. EDXC secured a high quality supply chain of imported industrial hemp based Cannabidiol (CBD) extracts and nutritional products to help develop Phyto-Nutrient© rich solutions for health needs.
Since launching the new division revenues have grown roughly 20% per month to the end of November. In late 2015, the company announced a campaign to bring its products into retail health food, vitamin, and wellness stores. As of last month, the company had established approximately numerous customer retail stores across 10 states. The business has been successful as evidence by the fact that more than 50% of the stores have had repeat orders. EDXC has achieved 50%-100% increased revenues per month due to the high demand for its products. This growth is witnessed in both of its retail and wholesale channel accounts.
ENDEXX CORPORATION COM USD0.001 (OTCMKTS:EDXC) share price gained 9.26% on the announcement and continues its momentum forward. The market value has gained over 150% and more than doubled since the end of February. Volume continues to trend higher as the marijuana industry continues to gain acceptance and experiences exponential growth. The company’s stock has broken out to above its 50 day high and its 10 weekly moving averages has crossed above its 30 weekly moving average which is a long-term bullish indicator. There are currently no stock analysts rating the company and it continues to trade on the OTC Market.
Mr. Riley has over 20 years of experience in the food, beverage and nutraceutical industry. He has worked the Joseph W. Riley Company food brokerage company run by his family which generated annual sales of $500 million. After the company was bought out he went on to manage a pet products company, Glamour Kitty Products. In recent years, Mr. Riley has been instrumental in helping consumer products companies launch and succeed in the marketplace through his relationships with retailers and his strong network of resources that has helped propel companies and their brands.
EDXC is currently trading at an $3.5 million market valuation. The company just hired a new sales director to growth its commercial accounts for hemp products. EDXC has experience significant growth over the last few months and is continuing to become a turnaround story. There are roughly 129 million shares outstanding.
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Disclosure: we hold no position in EDXC either long or short at the publication of this article.