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EX-99.2 - TRANSCRIPT - Exactus, Inc. | ex99-2.htm |
8-K - CURRENT REPORT - Exactus, Inc. | exdi8k_may262020.htm |
Exhibit 99.1
Exactus, Inc. Reports 2019 Year End Results
Year End 2019 Highlights
●
Completed first
harvest
●
Entered into
multiple supply agreements with industry leaders
●
Built a foundation
for mainstream adoption
●
Solidified our
footprint in the hemp industry
●
During Q1 2020,
purchase orders for approximately $900,000 of CBD and CBG products
have been received.
DELRAY BEACH, FL / May 26, 2020 / - Exactus, Inc. (OTCQB:
EXDI) (the “Company”) a leading supplier of
hemp-derived ingredients (CBD/CBG) and feminized hemp genetics,
today reported financial
results for the year end 2019.
During 2019, Exactus has built the foundation to become an industry
leader. The Company completed it’s first harvest, entered
into supply agreements with industry leaders, and has fully
restructured the company and board of directors.
Emiliano Aloi, President of Exactus stated, “2019 was a
transformational year for Exactus as we entered into the Hemp
market in January. We completed our first harvest which is
currently being processed into raw ingredients and have entered
into multiple supply agreements with industry leaders in
anticipation of additional supply as we are confident in our build
out of the sales and marketing team.”
Mr. Aloi continued, “We now have the components in place to
execute our long-term strategy and are looking forward to growing
off of the foundation that we have established.”
Year End 2019 Financial Summary
Financial results are not comparable to the prior year period
because Exactus did not begin its hemp based operations until early
2019. Revenue for the calendar year ended 2019 was $345,680 versus
$0 in the prior year. The increase in revenue was primarily
attributable to entering into the hemp industry. Net loss for the year end 2019 was
-$10,224,506 versus -$4,337,319 million in the prior year. For the
calendar year ended December 31, 2019 shareholders’ equity
increased by $7.1 million to $3.7 million in calendar 2019 from a
shareholder deficit of $3.4 million in calendar 2018. Exactus
expects gross margins to also improve as it begins using lower cost
inventory from its fall harvest.
Conference Call
Management will hold a conference call on Tuesday, May 26, 2020 at
4:30 p.m. Eastern Time (1:30 p.m. Pacific Time) to discuss its 2019
year end results and its business outlook. To access this call,
dial 1-877-451-6152 (domestic) or 1-201-389-0879 (international).
The conference ID is 13704510.
Following the conference call, a replay will be available at
1-844-512-2921 (domestic) or 1-412-317-6671 (international). The
replay passcode is 13704510. The conference call will be broadcast
and available for replay on the investor relations section of the
Exactus’ website at http://public.viavid.com/player/index.php?id=140074.
To learn more about Exactus, Inc., visit the website at
www.exactushemp.com.
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# # #
About Exactus:
Exactus Inc. (OTCQB:EXDI) is a leading producer and supplier of
hemp-derived ingredients and feminized hemp genetics. Exactus is
committed to creating a positive impact on society and the
environment promoting sustainable agricultural practices. Exactus
specializes in hemp-derived ingredients (CBD/CBG/CBC/CBN) and
feminized seeds that meet the highest standards of quality and
traceability. Through research and development, the Company
continues to stay ahead of market trends and regulations.
Exactus is at the forefront of product development for the
beverage, food, pets, cosmetics, wellness, and pharmaceutical
industries.
For more information about Exactus: www.exactusinc.com.
Investor Notice:
Investing in our securities involves a high degree of risk. Before
making an investment decision, you should carefully consider the
risks, uncertainties and forward-looking statements described under
"Risk Factors" in Item 1A of our most recent Form 10-K for the
fiscal year ended December 31, 2019 filed with the Securities and
Exchange Commission (the "SEC") on May 22, 2020, and in other
periodic and current reports we file with the SEC. If any of these
risks were to occur, our business, financial condition, or results
of operations would likely suffer. In that event, the value of our
securities could decline, and you could lose part or all of your
investment. The risks and uncertainties we describe are not the
only ones facing us. Additional risks not presently known to us or
that we currently deem immaterial may also impair our business
operations. In addition, our past financial performance may not be
a reliable indicator of future performance, and historical trends
should not be used to anticipate results in the future. See "Safe
Harbor" below.
Safe Harbor - Forward-Looking Statements:
The information provided in this press release may include
forward-looking statements relating to future events or the future
financial performance of Exactus, including statements concerning
harvest expectations, the impact of Exactus’ acquisition of
Green Goddess, LeVor Collection, and interests in the 2019 harvest
on its supply and product line expansion, Exactus’ ability to
monetize its harvest, Exactus’ ability to expand its product
lines and brands, the amount of future orders for Exactus products,
and Exactus’ future revenue, gross margins and working
capital. Because such statements are subject to risks and
uncertainties, actual results may differ materially from those
expressed or implied by such forward-looking statements. Words such
as "anticipates," "plans," "expects," "intends," "will,"
"potential," "hope" and similar expressions are intended to
identify forward-looking statements. These forward-looking
statements are based upon current expectations of Exactus and
involve assumptions that may never materialize or may prove to be
incorrect. Actual results and the timing of events could differ
materially from those anticipated in such forward-looking
statements as a result of various risks and uncertainties. Detailed
information regarding factors that may cause actual results to
differ materially from the results expressed or implied by
statements in this press release relating to Exactus may be found
in Exactus’ periodic and current filings with the SEC,
including the factors described in the sections entitled "Risk
Factors", copies of which may be obtained from the SEC's website at
www.sec.gov. Any forward-looking statement speaks only as of the
date on which such statement is made, and Exactus does not intend
to correct or update any forward-looking statement, whether as a
result of new information, future events or otherwise.
Exactus Contact:
Andrew Johnson
Chief Strategy Officer
Exactus Inc.
509-999-9695
ir@exactusinc.com
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