CAVE CREEK, ARIZONA - February 17, 2025 (NEWMEDIAWIRE) - Endexx Corporation (OTC: EDXC), a leading provider of innovative wellness products, is pleased to announce the successful filing of its Q4 2024 financial results, reflecting key improvements in revenue growth, cost management, and market expansion. Additionally, Endexx has officially removed the Yield sign from its OTC Markets listing, reinforcing its commitment to transparency and compliance. Under the new OTC Markets framework, the company will soon be designated as an OTCID-listed company, further strengthening its standing with investors.
Letter from the Interim CEO, Brad Listermann
Dear Shareholders, Partners, and Supporters,
I want to take a moment to personally connect with you and share an honest and forward-looking update on Endexx Corporation. As Interim CEO, I recognize the challenges we've faced, and I want to assure you that we are tackling them head-on with the entrepreneurial spirit that has always been at the heart of this company.
Acknowledging the Challenges
It's no secret that our financial position has been strained, with limited working capital and a heavy reliance on convertible financing in the past. We've experienced dilution, debt pressure, and cash flow constraints, all of which have made it difficult to operate at full capacity. However, rather than coming to investors with our hands out, we believe in rolling up our sleeves and proving our ability to execute.
A Return to Our Entrepreneurial Roots
Our strategy is simple: Drive real revenue, secure robust distribution agreements, launch innovative new products, and highlight our growth to build investor confidence, enabling us to negotiate funding on better terms.
1. Strong Revenue Growth and Expanding Market Presence
Revenue increased 164% year-over-year, reaching $632K in Q4 2024, demonstrating growing demand for our products.
Our gross margin improved to 46.5%, indicating enhanced financial efficiency.
International sales remain a promising area, with ongoing fulfillment of overseas orders and expansion discussions in multiple regions.
2. Major Distribution Agreements in Final Stages
We recently partnered with American Shaman, a well-established wellness retailer, to introduce HYLA's zero-nicotine products to 40 stores, with potential expansion to 300 locations.
We are in advanced negotiations for additional significant distribution agreements that could substantially broaden our U.S. and international reach.
3. Product Expansion and E-Commerce Growth
We are preparing to launch new products, including an innovative nicotine-free pouch line in early 2025. These pouches, unlike vapes, face fewer regulatory hurdles, allowing for immediate online sales and availability on platforms like Amazon.
HYLA's enhanced e-commerce platform is now operational, enabling us to scale online sales and engage directly with customers.
4. Cost Control and Financial Oversight Improvements
We've reduced operating expenses while increasing revenue, showcasing our commitment to sustainable growth.
The appointment of Doug Williams, CPA, as Fractional CFO ensures stronger financial oversight and transparency.
We've restructured debt through equity conversions, decreasing cash obligations and enhancing financial flexibility.
What's Next: Scaling Up for 2025
As we move forward, our focus remains on executing a strategic, revenue-first approach, strengthening our financial position, and driving long-term shareholder value. We anticipate the following key developments in the near term:
1. Finalizing and announcing additional large-scale distribution agreements.
2. Introducing our new products to the market to expand sales and reinforce brand leadership.
3. Securing funding on more favorable terms, leveraging our revenue growth and market expansion to enhance our negotiating position.
The Bottom Line
Endexx is not just survivingwe are actively rebuilding and growing. We are demonstrating our ability to drive revenue, expand our market presence, and innovate our product offerings. While challenges persist, we believe that our recent progress outlines a clear path toward a stronger future.
We appreciate your continued support and belief in our vision. We are working tirelessly to make Endexx a company that not only thrives but sets new industry standards.
Best Regards,
Brad Listermann Interim CEO, Endexx Corporation
About Endexx Corporation
Endexx Corporation (OTC: EDXC) is a leading developer and distributor of innovative wellness and lifestyle products. Through its HYLA division, Endexx is expanding its reach in the alternative wellness sector with plant-based, nicotine-free offerings, catering to the growing demand for healthier consumer choices. The company's commitment to compliance and transparency has reinforced its position as a trusted provider in the wellness industry.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
We caution that any forward-looking statements (as such term is defined in the U.S. Private Securities Litigation Reform Act of 1995) contained in this press release or made by us, our management, or our spokespeople involve risks and uncertainties and are subject to change based on various factors, many of which are beyond our control. Accordingly, our future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. Forward-looking statements include, without limitation, statements regarding our future operating results, the implementation and impact of our strategic plans, and our ability to meet environmental, social, and governance goals. Words such as "estimate," "commit," "target," "goal," "project," "plan," "believe," "seek," "strive," "expect," "anticipate," "intend," "potential," and any similar expressions may identify forward-looking statements.
Except as may be required by law, we assume no obligation and do not intend to make publicly available any update or other revisions to any of the forward-looking statements contained in this press release to reflect circumstances existing after the date of this press release or to reflect the occurrence of future events, even if experience or future events make it clear that any expected results expressed or implied by those forward-looking statements will not be realized.
