ENDEXX CORPORATION COM USD0.001 (OTCMKTS:EDXC) may be in the starting stages of a turnaround given recent developments and announcements. The stock has gained almost 200% since the end of February and has done so on increasing volume. EDXC made a bullish move above its 10 and 30 weekly moving averages (a medium to longer-term bullish signal). Another bullish development is that the 10 weekly moving average is about to cross above the 30 weekly moving average which hasn’t been occurred since the massive gains in 2014 and in 2013 where the stocked gained over almost 400% and over 5,000% respectively.
In addition to the technical breakout in the stock chart, ENDEXX CORPORATION COM USD0.001 (OTCMKTS:EDXC) has announced several recent positive developments that will fundamentally help the company turnaround. Most recently, EDXC announced that it has initiated a Plantar Fasciitis patient study with hemp extracted and derived from cannabidiol. The study will consist of 10 volunteers who will take the prescribed amount for up to 45 days. The market for Plantar Fasciitis pain relief is large. Over 2 million patients are treated a year for Plantar Fasciitis. If the average person spends between $100 and $200 for pain relief, the market size could be valued between $200 million and $400 million or even much larger if those figures are higher.
CEO of ENDEXX CORPORATION COM USD0.001 (OTCMKTS:EDXC) stated, “Through testimony of our clients and feedback from patients voluntarily participating in these studies, we are finding that secondary pain and inflammation related symptoms are improving through the use of our Phyto-Cannabinoid enriched blends. Testimonies come in weekly about the benefits provided by our products. We will continue to support baseline case studies that build a more complete understanding of the benefits derived from organic hemp extracts.”
If that isn’t bullish enough news, the company also announced that it is now current with the SEC and can up-list to OTCQB. It has hired Anton & Chia to be its auditor and complete full year 10-k and 10-Qs to be compliant. EDXC plans to announce the structure and composition of its investment banking syndicate and proceed to file a registration statement with the Securities and Exchange Commission to raise growth capital. This likely means dilution but hopefully not. The capital will be used for the expansion of product lines, sales and marketing, R&D and strategic acquisitions.
Endexx provides innovative medical marijuana management and technology solutions. Endexx, with its collaborative partners and consultants, develops and distributes two consumable product lines derived from industrial hemp, which is organic and naturally rich in phytocannabinoids. The company has two technology products and services that launched in 2014 — the M3hub and the Autospense™.
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EDXC is currently trading at a $3 million market valuation. The company is showing signs of turning around from a technical chart perspective and from the recent developments. EDXC is trading at a fraction of the market value potential for its new study. The CEO has been dedicated to cleaning up EDXC, focus on its core strategies, grow the business, and provide updates and ongoing communication with shareholders.
We will be updating on EDXC when more details emerge so make sure you are subscribed to Microcapspot so you know what’s going on with EDXC.
Disclosure: we hold no position in EDXC either long or short at the publication of this article and we have not been compensated for this article.