CAVE CREEK, AZ - (NewMediaWire) - March 12, 2024 - Endexx Corporation (OTC: EDXC), pioneers in plant-based products, disclosed a pivotal leadership transition and a strategic overhaul aimed at harnessing the significant potential of HYLA, its standout subsidiary. Todd Davis, the CEO and founder, is poised to transition from his CEO role after the company's crucial 2023 audit is completed. Davis will continue to drive growth as President of CBD Unlimited and will retain his integral role on the Endexx board of directors. This evolution of the management of the company is set to spotlight HYLA, known for its exceptional growth trajectory and recent successes, as the primary catalyst for Endexx's future expansion. Endexx year-over-year growth since the acquisition of Hyla has been 300% since August 2022. With this in mind, Endexx will also be putting in motion a plan to change the company's name and to secure an updated ticker symbol reflecting this name change.
Central to orchestrating this transformative journey, Claude Zdanow, a board member celebrated for his strategic prowess, has supported the charge, guiding a top-tier management consulting firm in close collaboration with the board. This synergistic endeavor elevates HYLA's market footprint while ensuring a cohesive strategic alignment across Endexx's diverse portfolio. Under Zdanow's stewardship, the consulting firm will work intimately with the board to rigorously reorient the company's strategic focus, particularly amplifying HYLA's market prominence. Additionally, this collaboration is crucial for streamlining operations and setting the stage for an era of renewed leadership, including the pursuit of an innovative CEO who will chart Endexx's journey toward groundbreaking growth and innovation.
Reflecting on the upcoming changes, Todd Davis expressed optimism remarking, "Redirecting my focus towards CBD Unlimited offers a great opportunity to foster innovation and scale, paralleling the ambitious trajectory we envision for HYLA. Under the board's guidance, and in tandem with our distinguished management consulting firm, we are embarking on a new chapter that promises to elevate the company.
HYLA, with its revolutionary plant-based vape products made in Los Angeles, has not only captured a significant share of the market but has also established new industry benchmarks with its audacious 300% compound annual growth rate target over the next 3-5 years. This has propelled HYLA into securing expansive distribution networks across over ten countries, affirming its role as a pivotal growth engine for Endexx Corporation.
The board extends its gratitude to Todd Davis for his leadership and his help through this transition period and looks forward to his continued strategic contributions in his new roles. Endexx Corporation is steadfast in its commitment to embarking on this strategic realignment to unlock HYLA's full potential and assure sustained success.
Updates on the leadership transition, strategic reorganization, and the CEO search process will be communicated as developments unfold. Endexx is dedicated to leading through innovation, excelling in execution, and sustaining its leadership in the global wellness market.
About Endexx Corporation
Endexx Corporation develops and distributes all-natural, plant-derived wellness products and topical skincare products. Its products vary from balms, creams, lotions, butter, masks, scrubs, and oils, all with the shared purpose of healthy skin and grooming wellness. The science behind these products involves a decade of clinical research in the field and lab work to provide a functional formulation with ingredients for optimal absorption and support of skin health. www.endexx.com
About HYLA
Hyla currently markets its proprietary non-nicotine, guarana and L-Dopa-based vape products in a wide variety of flavors. The Hyla device is the first non-nicotine vape product to be produced in this manner in the United States and provides an unprecedented 4,500 puffs per device. Hyla is currently being distributed in 10 countries and has signed distribution agreements with an additional nine countries. www.tryhyla.com
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