MC Endeavors, CBD Liquid Labs Corporate Update
ALISO VIEJO, Calif., April 23, 2020 (Newswire.com) - Mr. Mazurek is pleased to announce that we have remained open for business continuously during this unprecedented pandemic and economic shutdown. We have implemented all the precautions prescribed by the authorities to keep our employees as safe as possible. Business from our new product line is starting to make up for the pullback in business we expected from the pandemic as no one knew how the world would react to the Shelter-in-Place orders. Clients have been ordering our new Immunity Products at a rate faster than we expected and we feel very good about having the opportunity to help fill an important need for consumers and generate positive cash flow during these challenging times.
Corporate Updates:
While most of the CBD Liquid Labs team is working remotely, production is still up and running. Mr. Mazurek stated, “In the last couple of weeks of the 1st Quarter, our new product line generated significant new business allowing us to be Cash Flow Positive for March after a slow Jan & Feb.” Gross Sales for the 1st Quarter are down about 28% from the Q4, 2019, with sales of approximately $340,000. Gross Margins were down slightly and came in at just under 60%. “Overall, I'm quite happy with our team and the effort they put out to formulate a new product line and source the supplies with the disruption to the world’s supply chains,” commented Mr. Mazurek.
The new product line of Immunity products including Sanitizers, has begun shipping. To aid consumers, CBD Liquid Labs has created and launched a low-cost option for wholesale and online retail via their new retail website – www.CortexHemp.com. The Company is already receiving positive feedback and new business from this new product line.
Accountant is projecting Year End Financials completed and reported by mid May 2020. As the economy starts to gear back up, we will bring the rest of our staff back to work. CBD Liquid Labs will be able to get back on track for our 2020 plans of completing the proper legal paperwork for our Reverse Merger, implement the new Clean Room build-out and order the new Equipment we have targeted for purchase. We still expect to show significant growth for 2020.
Safe Harbor Statement – In addition to historical information, this press release may contain statements that constitute forward-looking statements. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company’s future business operations and the assumptions upon which such statements are based. There are a number of important factors that could cause actual results to differ materially from those indicated within this press release. The Company disclaims any responsibility to update any forward-looking statements.
For further information contact:
Steven Mazurek
MC Endeavors, CBD Liquid Labs
Phone: (949) 448-0074
Email: Steven@eclipseliquids.com
Source: MC Endeavors, Inc. / CBD Liquid Labs (PINKSHEETS: MSMY)