Puration Anticipates Substantial Sales Acceleration From Projected Hemp-Derived CBD Market Expansion From $591 Million to $22 Billion by 2022
DALLAS, December 4, 2018 /PRNewswire/ -- Puration, Inc. (USOTC: PURA) today released an update on its end of year sales drive to reach or exceed $1 million in sales for 2018 and to add insight into the 2019 anticipated sales growth.
The company recently reported its revenue for the nine months ending September 30, 2018 at $868,300 representing an increase of over 400% since the company reported $168,000 for the same period last year. The company also realized a 50% profit margin reporting a $448,800 bottom line for the nine months ending September 30, 2018. Management believes the $1 million in annual sales benchmark is within reach for 2018 and continues pushing to insure success. The company today announced signing a new distributor, Savannah Distributing Company , opening up sales of Puration's EVERx CBD Sports Water for the first time within the Southeast United States. Management anticipates additional geographic distribution expansion announcements before the end of the year.
Recent analyst coverage of Puration included a $3 million estimated 2019 revenue projection. Following the analyst coverage, Puration announced a $1 million agreement to produce a new private labeled CBD infused bottled water for a health care industry firm. With what appears to be the imminent legalization of hemp and hemp-derived CBD in the United States under the 2018 Farm Act, demand for CBD infused beverages could expand rapidly.
The Motley Fool:
"If the bill makes it through Congress and is signed by President Trump, as widely expected, industrial hemp should be legal on Jan. 1, 2019. If this occurs, the U.S. market for hemp -- and its derivatives -- is expected to soar. The hemp-derived CBD market is projected to rocket from about $591 million this year to $22 billion by 2022, according to the Brightfield Group. That's a whopping 37-fold increase in just four years!" (See Full Article)
With Puration's experience and expertise in the production and sales of CBD infused beverages, combined with the potential behind the legalization of hemp and hemp-derived CBD, management anticipates the growth of private label CBD infused beverages next year could be substantial. The company's existing $1 million private label agreement could just be the beginning.
Puration has the sole license for beverage production of U.S. Patent No. 9,199,960 entitled 'METHOD AND APPARATUS FOR PROCESSING HERBACEOUS PLANT MATERIALS INCLUDING THE CANNABIS PLANT'. The patent is owned by Puration partner Kali, Inc. (USOTC: KALY) and Kali is currently working with Puration in the formulation of multiple extract concentrates that would enable Puration to produce a variety of private label CBD beverages with different CBD concentrates.
For more information on Puration, visit http://www.purationinc.com
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 any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' 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.
SOURCE Puration, Inc.
Company Codes: OTC-PINK:PURA, Bloomberg:PURA@US, Bloomberg:S1G@GR, RICS:PURA, ISIN:US74609P1049, OTC-BB:PURA, OTC-QB:PURA, OTC-QX:PURA, OtherOTC:PURA