LAS VEGAS, Sept. 10, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- International Spirits & Wellness Holdings, Inc. (OTCMKTS: ISWH) (“ISWH” or the “Company”), a top-tier brand incubator in the Spirits, CBD-Infused Products, and Home Healthcare markets, is very excited to announce that it is on track to post its first ever quarter of profitability on an EBITDA (earnings before interest, tax, depreciation and amortization) basis in the Company’s fiscal third quarter (ending September 30, 2019).
The Company also now expects both nominal revenues and quarterly year/year revenue growth rate will supersede the strong top-line results filed by the Company for its Q2 quarter ended June 30, 2019. In addition, the Company will be filing fully-audited financial results at year-end. At this point, the Company is on pace for record results in 2019 in terms of financial performance, and management anticipates applying to uplist onto the OTCQB exchange tier in coming months.
“Our home healthcare segment has been driving recent growth during our marketing and distribution transition for our CBD product line and ahead of our planned distribution expansion for Besado Tequila in October,” noted Terry Williams, ISWH CEO. “In other words, this is a three engine plane that has basically been flying on one engine over recent months. But that’s all about to change. Q3 is the turning point. Q4 is going to be the real story.”
Management notes that the Company is set to shortly resume online sales of its P19 premium quality hemp-derived line of branded CBD-based health and wellness products. The Company anticipates sales of CBD-based products to contribute to Q3 results and significantly drive Q4 growth.
In addition, the Company is setting up to sharply expand its distribution footprint for its award-winning Besado Tequila brand, and will release further details on this expanded spirits strategy in coming communications.
“We have been planning our second-half strategy carefully with the idea that we will really be able to turn on the juice from right now through the end of the year,” continued Mr. Williams. “We put out an update back in January claiming that 2019 was going to be the year that we really turned the corner. We are very gratified to be able to sit here now in September and confirm that thesis based on empirical data.”
About ISWH: International Spirits & Wellness Holdings, Inc. (ISWH) is an authorized importer, licensor, and marketer of premium beverage brands, with sales of innovative products and brands worldwide. Based in Nevada, the Company's expertise lies in the strategic development and aggressive early growth of its brands and the establishment of these brands as viable and profitable as an incubator. ISWH intends to nurture emerging brands through critical stages of market development, including conceptualization, go-to-market strategy, supply chain and logistics engineering, integrated marketing, and distribution. In addition, ISWH has now established itself as a health and wellness company with a focus on reshaping the CBD products market through state-of-the-art nanotechnology processes, developing a wide range of nano-infused CBD gummies and beverages formulations. These products will be sold through the Company’s website, as well as through established wholesale and retail distribution channels. The company has also partnered with Bengala Technologies to develop and commercialize enterprise and B2B software technology products targeting the logistics and supply-chain marketplace.
Forward Looking Statements: This press release may contain forward-looking statements that involve risks and uncertainties. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology including "could", "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential" and the negative of these terms or other comparable terminology. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested in this report. Except as required by applicable law, we do not intend to update any of the forward-looking statements so as to conform these statements to actual results. Investors should refer to the risks disclosed in the Company's reports filed from time to time with OTC Markets (www.otcmarkets.com).
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International Spirits & Wellness Holdings, Inc.
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Source: Company press release.