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SUNRISE, Fla., July 17, 2019 (GLOBE NEWSWIRE) -- Profile Solutions, Inc. (OTC Grey: PSIQ) announced today that the audit of its financial statements for the year ended December 31, 2018 has been completed with its subsidiary Elite Products International, Inc. (“Elite”) posting revenues of $876,448 in 2018 compared to revenues of $208,236 for the year ending December 31, 2017, representing an increase of over 4 times. The audited financial statements can be viewed in their entirety at https://backend.otcmarkets.com/otcapi/company/financial-report/225478/content. The Company originally reported its unaudited results for 2018 on April 3, 2019. There were no changes between the unaudited and audited revenue results.
The increase in revenues was primarily due to execution of the Company’s business, sales and marketing plan which nurtured a growing pipeline throughout the year resulting in many new and repeat customers. Elite prides itself on having excellent products, competitively priced, delivered on time and friendly and supportive customer service.
Dan Oran, CEO of PSIQ stated, “We are extremely pleased to report that the audit of our 2018 financial statement confirms the yearly revenues for 2017 and 2018 as previously reported on April 3, 2019 through OTC Markets.”
ABOUT PROFILE SOLUTIONS, INC. (“PSIQ”)
Profile Solutions, Inc., has two operating subsidiaries. Elite Products International, Inc., a leading distributor and manufacturer in the cannabinoid (CBD) industry. The Company’s products contain cutting-edge CBD industrial hemp extracts in the form of edibles, topicals and cosmetics. Financial information can be found at https://www.otcmarkets.com/stock/PSIQ/profile. CannBerry Tek, Inc. is a Hi-tech innovative Biotechnology Company that manages various Research & Development (“R&D”) activities with a major focus on the Medical Cannabis industry.
Please visit the company website at www.profilesolutionsinc.com and www.elitehempproducts.com and Facebook at www.facebook.com/eliteproductsintl/, https://www.facebook.com/EliteProductsINTL/, Instagram www.instagram.com/elite_hemp/, Linkedin at www.linkedin.com/in/elite-hemp-products-3a863914a/ , Twitter at https://twitter.com/Hemp_Intl and https://twitter.com/incprofile Blog: https://www.elitehempproducts.com/blog.
Safe Harbor Statement
This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results or implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
For information, please contact:
Dan Oran, President
Profile Solutions, Inc.
8411 West Oakland Park Blvd.
Sunrise, FL 33351