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Acology 10Q Confirms Revenue and Net Income Surge: EU Patent Next
CORONA, Calif., May 15, 2018 (GLOBE NEWSWIRE) -- Acology Inc. (ACOL-OTCMARKETS) released its’ 10Q, confirming that business continues to steadily grow and sustaining the expansion of the company that began more than 18 months ago. Among the highlights are:
- Gross revenues up nearly 20%
- Net income continues to surge, with new products now accounting for over 35% of sales
- Increased Assets and Accounts Receivable
- Another 6-Figure Debt Reduction in the quarter, following other substantial debt reductions in the previous 3 quarters
- Sharp increases in the Canadian Licensed Producer sector
Acology continues to focus from the inside-out, accelerating plans implemented earlier this year to create a stronger core business and expand sharply into several aspects of the cannabis market, with an eye on becoming the preferred retail packaging unit for both the Canadian and US market. In addition, the steady increase in sales for Acology’s MedX 2-way humidity packs are accounting for the steady rise in the company’s net revenues. Substantial orders from Canadian LPs are still increasing, a trend that Acology is confident will continue into the foreseeable future.
The company also announced that there is every indication that Acology will be granted the European Patent for its’ signature product, the MedTainer™, by the end of the year if not sooner. This comes on last month’s announcement that Acology had purchased the entire United States MedTainer IP Portfolio and followed with the granting of the Canadian Design Patent for the multi-functional container.
For investor or sales information please visit Acology Inc. and D&C Distributors online or by phone. The company is located in their production and distribution facility at 1620 Commerce St. Corona, California, 92880.
Acology trades on the OTC under the call letters ACOL. The company’s websites are www.Acologyinc.com for the hospice and palliative care industry and www.themedtainer.com for the recreational and medical marijuana industry. Orders for Acology products can be taken online and by phone. Custom orders are especially welcome. Please send all inquiries to email@example.com or call (844) ACOLOGY (844-226-5649). Ask for Jack Rein, National Services Director. Acology can also be accessed through Twitter and Instagram at @Acologyinc
This press release includes statements that are covered by the Private Securities Litigation Reform Act of 1995. Because such statements deal with future events they are subject to risks and uncertainties and actual results for fiscal year 2016 and beyond could differ materially from the company’s current expectations. Forward-looking statements are identified by such words as “anticipates”, “projects”, “expects”, “planned”, “intends” and “believes” “estimate” “targets” and other similar expressions that indicate trends and future events. It is understood that investment entails risk on the part of the investor and could result in the loss of some or all his or her investment.