OMID Holdings, Inc. (OTC Pink: OMID), a publicly-traded health and wellness company, today provides Unaudited Key Financial Highlights for the third quarter.
Operating Results for the Three Months Ended September 30, 2020
- Revenue was $356,444, compared to $178,435 for the same period last year, a 99.8% improvement.
- Gross Profit was $156,713, compared to $85,650 for the same period last year, a 83.1% improvement.
- Net income was $96,819, compared to $8,008 for the same period last year, a 1109.1% improvement.
Operating Results for the Nine Months Ended September 30, 2020
- Revenue was $840,922, compared to $505,371 for the same period last year, a 66.4% improvement.
- Gross Profit was $362,350, compared to $171,083 for the same period last year, a 111.8% improvement.
- Net income was $185,233, compared to $24,978 for the same period last year, a 641.6% improvement.
All comparative figures reflect the operations of OMID Holdings, Inc. (successor) detailed in the consolidated financials per the acquisition in February 2020; the predecessor reporting entity's operations are not factored into these calculations.
"OMID Manufacturing is rapidly evolving with a promising outlook for the foreseeable future," stated Adam Frank, OMID's Chairman and CEO. "I expect our recent investments in production machinery to yield substantial benefit as we continue to expand our manufacturing capabilities in both product variety and scale."
About OMID Holdings, Inc.
OMID Holdings, Inc. is a publicly-traded (OTC Pink: OMID) health and wellness company which owns and operates a manufacturing facility in Alpha, New Jersey. The headquarters is FDA-registered and Food Grade Certified for production within its clean room environment. The company is currently focused on the development, manufacture, and sale of hemp-based products for private label and in-house brands. For more information about the company, please visit https://omidholdingsinc.com.
