Debra Borchardt
Isodiol International Inc. (ISOLF) reported its annual earnings with a gross profit of C$8.8 million for the year ending March 31, 2018, which was well above last year’s gross profit of C$126,715. However, the net losses were tremendous at C$36 million versus last year’s net loss of C$4 million as the company embarked on numerous acquisitions.
Revenues for the year logged in at C$19 million, well above last year’s C$355,959. The cost of goods sold was C$10 million for the year versus last year’s C$229,243.
“Although the Company experienced tremendous growth for its Fiscal Year 2018, we strongly believe that CBD is still in its infancy stage, and we are just beginning to understand its benefits for the human body,” said CEO of Isodiol, Marcos Agramont. “Isodiol has made significant strategic acquisitions over the last 12 months that are just now beginning to bear fruit, and the Company is well positioned as a global leader in the manufacturing, distribution, and full commercialization of hemp-derived CBD products.”
The company has a strong balance sheet of $24,069,692 in cash and acquisition deposits, which are intended to facilitate continued growth throughout Fiscal Year 2019. In its statement, Isodiol said that it is expanding its worldwide sales force with the intention of capitalizing on the untapped market for API sales and Finished Pharmaceutical Products.
Since the closing of the year on March 31, Isodiol has acquired BSPG Laboratories, Azure Bottling LLC, and Kure Corp. It has also acquired 51% of Farmtiva and 51% of Round Mountain Technologies. It terminated its acquisition of Betru Organics. The company’s outstanding shares jumped from 3.1 million in 2017 to 20.9 million common shares outstanding.
Isodiol recently received approval for its highest-grade CBD to be designated as an Active Pharmaceutical Ingredient for use in Finished Pharmaceutical Products. Isodiol’s growth strategy includes the development of over-the-counter (OTC) and pharmaceutical drugs, expanding its consumer products portfolio, and aggressively continuing international expansion into Latin America, Asia, and Europe.
