(MENAFN - GlobeNewsWire - Nasdaq) DALLAS, Aug.23, 2019(GLOBE NEWSWIRE) -- via OTC PR WIRE -- Kali-Extracts, Inc. (Kali, Inc. dba/Kali-Extracts, Inc.) (USOTC: KALY) ('KALY') today published a new website dedicated to providing information on the company's recently introduced CBD Formulation, RespRx, for the treatment of Chronic Obstructive Pulmonary Disease (COPD) affecting 65 million people worldwide. KALY introduced the newCBD Formulationearlier this week after making a patent application and trademark registration for the formulation. The website will be continually updated with information about the patent and application trademark progress and the ongoing RespRx medical trials and developments as the company advances toward FDA approval.
US Patented Cannabis Extraction Process For Development Of Cannabis Therapies
In the fourth quarter of last year, 2018, KALY acquired NCM Biotech (NCMB). NCMB owns and operates a U.S. Patent for cannabis extraction process. With the acquisition of NCMB, KALY is now primarily in the business of developing biopharmaceutical formulations from cannabis extractions for the treatment of various diseases. KALY now has over four years of research and development behind cannabis extract formulations targeting the treatment of Chronic Obstructive Pulmonary Disease (COPD), Cancer Pain Management, Type 2 Diabetes and Epilepsy.
KALY has implemented a long-term sustainable overall business strategy. KALY is not just relying on its biopharmaceutical development strategy alone to insure the company's long-term success. KALY, through partnership and independently, has also introduced to market a number of CBD infused consumer food products and a new CBD extraction service for hemp farming operations.
250% 2019 YTD Revenue Growth
The revenue realized in the first six months of 2019 comes primarily from KALY's various CBD infusion offerings. KALY realized $165,000 in revenue in the first six months of 2019. The revenue results from the company's cannabis business shift in the fourth quarter of last year. In the first six months of 2018, KALY reported only $46,000 in sales. The introduction of KALY's new cannabis business has seen the company's revenue grow over 250% in the first six months of 2019 compared to the first six months of 2018. KALY also realized $70,000 in operating net income in the first six months of 2019. KALY reported only nominal operating net income in the first six months of 2018.
More Dramatic Revenue Growth Anticipated 2nd Half Of 2019
Drawing on KALY's patented cannabis extraction expertise, the company has recently announced $15 million worth of extraction contracts with hemp farming operations.
KALY management anticipates even more dramatic revenue growth in the second half of 2019 as hemp harvest season approaches.
Updated KALY Analyst Report Planned For Publication Next Week
In addition to the corporate financial disclosures released yesterday, KALY's alternative reporting site,www.kaly-info.com , includes an analyst report on KALY's overall business operation in addition to other useful information. In conjunction with the recent cannabis extract biopharmaceutical business updates made this week, KALY anticipates publishing an updated analyst report next week.
To learn more about the company visithttps://www.kali-extracts.com/
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as such, may involve risks and uncertainties. These forward looking statements relate to, amongst other things, current expectation of the business environment in which the company operates, potential future performance, projections of future performance and the perceived opportunities in the market. The company's actual performance, results and achievements may differ materially from the expressed or implied in such forward-looking statements as a result of a wide range of factors.
A photo accompanying this announcement is available athttps://www.globenewswire.com/NewsRoom/AttachmentNg/aba22a56-0b95-44a7-af9c-7a0d6177edb0