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Isodiol International Inc. Reports Second Quarter 2020 Financial Results

December 3, 2019
VANCOUVER, BC / ACCESSWIRE / December 3, 2019 / Isodiol International Inc. (CSE:ISOL)(OTCQB:ISOLF)(FSE:LB6B.F) (the "Company" or "Isodiol"), announces that it has filed its consolidated financial statements and MD&A for the three months ended ...
VANCOUVER, BC / ACCESSWIRE / December 3, 2019 / Isodiol International Inc. (CSE:ISOL)(OTCQB:ISOLF)(FSE:LB6B.F) (the "Company" or "Isodiol"), announces that it has filed its consolidated financial statements and MD&A for the three months ended ...

VANCOUVER, BC / ACCESSWIRE / December 3, 2019 / Isodiol International Inc. (CSE: ISOL )(OTCQB: ISOLF )(FSE: LB6B.F ) (the “Company” or “Isodiol”), announces that it has filed its consolidated financial statements and MD&A for the three months ended September 30, 2019 and issues shares to settle debt.

Significant FY2020 second quarter results include:

% QOQ% YOY
Q2 2020Q1 2020ChangeQ2 2019Change

Consulting

52,18549,1786.11%1,716,720-96,96%

Wages

848,034816,2383.90%2,560,649-66.88%

Total operating expenses

3,061,3823,362,091-8.94%12,844,008-76.16%

Net loss

3,241,1102,825,09214.73%8,616,120-62,38%

Operational highlights:

The Company also announces that it will be issuing 245,905 shares to settle CAN$83,923 in liabilities at a weighted average price of CAN$0.34 per share.

“The Company’s primary objective in Q1 and Q2 of FY2020 was to reduce our operating expenses and move towards profitability through a focus on higher margin sales” said CEO of Isodiol, Marcos Agramont. “We’ve been successful in pairing down expenses and are now laser focused on re-establishing our name brands and product lines to meet the changing needs of the current and future CBD/Hemp market”

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About Isodiol International Inc.

Isodiol International Inc. is focused on the nutritional health benefits that are derived from hemp and is a product development, sales, marketing and distribution company of hemp-based Consumer Packaged Goods (CPG) and solutions. Isodiol has commercialized a 99%+ pure, naturally isolated CBD, including micro-encapsulations, and nano-technology for quality consumable and topical skin care products. Isodiol’s growth strategy includes the development of over-the-counter and pharmaceutical drugs and continued international expansion into Latin America, Asia, and Europe.

ON BEHALF OF THE BOARD

Marcos Agramont, CEO & Director

INVESTOR RELATIONS:

604-409-4409

MEDIA CONTACT:

The CSE has not reviewed, approved or disapproved the content of this press release.

Forward-Looking Information:This news release contains “forward-looking information” within the meaning of applicable securities laws relating to statements regarding the Company’s business, proposed arrangement with creditors, products and future the Company’s business, its product offerings and plans for sales and marketing. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking information. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance and developments to differ materially from those contemplated by these statements depending on, among other things, the risks that the Company’s products and plan will vary from those stated in this news release and the Company may not be able to carry out its business plans as expected. Except as required by law, the Company expressly disclaims any obligation and does not intend, to update any forward-looking statements or forward-looking information in this news release. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct and makes no reference to profitability based on sales reported. The statements in this news release are made as of the date of this release.

The CSE has not reviewed, approved or disapproved the content of this press release.

SOURCE: Isodiol International Inc.

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https://www.accesswire.com/568843/Isodiol-International-Inc-Reports-Second-Quarter-2020-Financial-Results