Endexx Reports Q2 Results for Fiscal 2020 and Provides Business Outlook

• Revenues of $1.3 Million for Second Quarter 2020 
• 91% Year-Over-Year Growth

CAVE CREEK, AZ, May 18, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Endexx Corporation (OTC: EDXC) (the "Company" or a/k/a "CBD Unlimited"), a lifestyle company focused on the intersection of science, compliance, and formulation of innovative phytonutrient-based food and nutritional products, today announced second-quarter results for the period ended March 31, 2020. 

"We are pleased to see CBD Unlimited's growth in Q2, as we took immediate and strategic actions to adjust to the current market condition," said Todd Davis, Chief Executive Officer and Chairman of Endexx. "In our second quarter of 2020, we experienced higher sales for our products through diversified channels, which increased our revenue by 91% year-over-year." 

Mr. Davis noted, "The coronavirus challenged the hemp industry, as well as many other industries, with updated protocols for products sold in stores. New category requirements initially limited opportunities for CBD Unlimited products to be restocked due to the rise in essentials and hand sanitizer demand and priority for retailers. Despite this hurdle, we overcame it, and managed to meet customer demand. It is rewarding to see what comes out of the team's dedication and quick adaptation to change.”

"The primary focus for Endexx moving forward is the long-term health and well-being of our customers, investors, and partners. Through collaboration and thoughtful planning with our partners, all are focused to push through these unprecedented times together. With optimism and a drive to educate and provide consumers with safe, high-quality, reliable products, the future of the company’s direction is secured on a solid foundation," continued Davis.

Second Quarter 2020 Highlights

For the first half of 2020, the Company generated more sales than 2019 in its entirety. The gross revenue of $1.3 million in Q2 2020, compared to $680 thousand in Q2 2019, represents an increase of 91% year-over-year. The growth was driven by higher sales of CBD products and a more extensive consumer base from the growing wholesale activity and e-commerce platform.

The e-commerce platform launch provides both new and existing buyers with control over their individual subscription model. It allows customers the flexibility to manage their reorder cycle to extend or delay their subscription. Consumers enjoy the unique opportunity for dose and product experimentation. CBD Unlimited intends for the subscription model to encourage education about personal wellness and to discover the best, most optimally dosed products. The online platform offers users nearby store locations by entering zip code and mapping. In turn, the e-commerce platform supports both stores and options for delivery to the consumer.