Easton Pharmaceuticals Inc.
Under the Symbol:
Easton Announces Filing of Its Financial Statements for the Year Ended December 31, 2018 with a Revenue Increase of 145% Over 2017 and Provides General Business Update
Monday, March 18, 2019 9:15 AM
TORONTO, ON / ACCESSWIRE / March 18, 2019 / Easton Pharmaceuticals, Inc. (OTC PINK: EAPH) Announces that it has filed its Financial Statements for the Year Ended December 31, 2018 and provides general updates on Its business initiatives.
Easton realized revenues of $378,589 USD during 2018, an increase in revenues over 145% from 2017. The Company's revenues primarily derived during the last 2 quarters from activities generated from its Georgina property, as well as from its construction contract to frame 150 new homes, through its Real Estate and Development Division. Easton's management announced last year that it would be entering into additional lucrative market segments that its directors have experience in.
The Company has created a Real Estate and Development Division, which will manage its ownership in its Georgina property, as well as its recently acquired Cobourg development property. This Division also provides construction services to builders and other clients, such as its framing contract. Easton has also created a Gaming Division, a Food and Beverage Division and a Cannabis Division. The Company is maintaining its Pharmaceutical Division, which includes a lucrative distribution agreement with BAYER, scheduled to launch in Q2. Additional consumer products are currently being negotiated and will be added to the Pharmaceutical Division. The Gaming Division is expected to complete a profitable agreement with a casino in the United States in Q2, while Easton recently announced its acquisition of a commercial bakery and food processing facility in Toronto, which is scheduled to close later this month and will mark its entry into the Food and Beverage industry. The Company's Cannabis Division is also in discussions with several Licensed Producers of Medicinal Marijuana in Canada and hopes to complete a strategic partnership shortly.
Easton has put in place the infrastructure that the Company will require to effectively and efficiently manage its operations and growth moving forward.
About Easton Pharmaceuticals
Easton Pharmaceuticals is a diversified specialty pharmaceutical company involved in various pharmaceutical sectors and other growing industries. The Company previously developed and owned an FDA-approved wound-healing medical drug and currently owns topically delivered drugs to treat cancer and other therapeutic products to treat various conditions that are all in various stages of development and approval. Easton, together with BMV Medica S.A. own the exclusive distribution rights in Mexico and Latin America for two patented women's diagnostic products and a novel natural treatment for Bacterial Vaginosis, which they have sub-licensed to Bayer and Gedeon Richter. In addition, a generic cancer drugs line is being developed for sale in Mexico. The company's gel formulation is thought to be an innovative and unique transdermal delivery system that can in the future be adaptable in the delivery of other drugs.
As part of its strategic growth plan, the Company has entered additional lucrative market segments and has created a Food & Beverage Division, a Real Estate & Development Division, a Gaming Diving and a Cannabis Division.
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This news release may contain forward-looking statements or expressions within the meaning of the Private Securities Litigation Reform Act of 1995 (The ''Act''). In particular, when certain words or phrases such as ''hope'', ''positive'', ''anticipate,'' ''pleased,'' ''plan,'' ''confident that,'' ''believe,'' ''expect,'' ''possible'' or ''intent to'' and similar conditional expressions are expressed, they are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Any investment made into Easton Pharmaceuticals may contain risks. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the company's products and technologies, competitive factors, the ability to successfully complete additional or adequate financing, government approvals or changes to proposed laws and other risks and uncertainties further stated in the company's financial reports and filings.
Easton Pharmaceuticals Inc.
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SOURCE: Easton Pharmaceuticals, Inc.