VANCOUVER, British Columbia, Aug. 16, 2019 (GLOBE NEWSWIRE) -- Isodiol International Inc. (CSE: ISOL) (OTCQB: ISOLF) (FSE: LB6B.F) (the “Company” or “Isodiol”), announces that it has filed its audited consolidated financial statements and MD&A for the year ended March 31, 2019.
Highlights of Fiscal Year 2019 include:
Breakdown of Significant Other Expenses:
“We have just realized our most profitable quarter to date and have reduced our operating expenses considerably, which will be seen in the first quarter of FY2020,” said CEO of Isodiol, Marcos Agramont. “The majority of losses experienced in FY 2019 are a by-product of our shift in our focus towards higher margin consumer products vs raw ingredient supply, prevention of massive shareholder dilution and protecting our future cash flows through divestitures.” Marcos went on, “Over the last several months we have sharpened our focus significantly, cut costs, curbed shareholder dilution and we believe the Company is in a strong position heading into FY2020 and beyond."
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About Isodiol International Inc.
Isodiol International Inc. is focused on the nutritional health benefits that are derived from hemp and is a product development, sales, marketing and distribution company of hemp-based Consumer Packaged Goods (CPG) and solutions. Isodiol has commercialized a 99%+ pure, naturally isolated CBD, including micro-encapsulations, and nano-technology for quality consumable and topical skin care products. Isodiol’s growth strategy includes the development of over-the-counter and pharmaceutical drugs and continued international expansion into Latin America, Asia, and Europe.
ON BEHALF OF THE BOARD
Marcos Agramont, CEO & Director
INVESTOR RELATIONS:
Ir@isodiol.com
604-409-4409
MEDIA CONTACT:
Christopher Hussey
media@isodiol.com
The CSE has not reviewed, approved or disapproved the content of this press release.
Forward-Looking Information: This news release contains "forward-looking information" within the meaning of applicable securities laws relating to statements regarding the Company's business, business plans, products and future the Company’s business, its product offerings and plans for sales and marketing, including with respect to the Company’s expectation that it will have continued access to the API required for Purodiol, Isodiolex and Isoderm, the Company’s expectations generally regarding the market for high margin consumer goods, and the Company’s belief that its operating expenses will continue to remain at a relatively reduced level into the next financial quarter or beyond. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking information. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance and developments to differ materially from those contemplated by these statements depending on, among other things, the risks that the Company's products and plan will vary from those stated in this news release, that the Company may not be able to carry out its business plans as expected, including with respect to having continued access to the API required for Purodiol, Isodiolex and Isoderm, that the Company will achieve a favourable position within the high margin consumer goods market, and that the Company’s operating expenses will remain at a relatively reduced level into the next financial quarter or beyond. Except as required by law, the Company expressly disclaims any obligation and does not intend, to update any forward-looking statements or forward-looking information in this news release. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct and makes no reference to profitability based on sales reported. The statements in this news release are made as of the date of this release.
The CSE has not reviewed, approved or disapproved the content of this press release.