SUNRISE, Fla., March 08, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE--Profile Solutions, Inc. (OTC Pink:PSIQ) announced today that its wholly owned subsidiary Elite Products International, Inc. reported revenues for January - February 2018 of $ 142,618.72 compared to revenues of $ 9,617.57 for the same period in 2017, an almost 1500% increase.
"We moved into 2018 with the priority of generating Revenues and increasing market share for our new line of Cannabidiol ("CBD") products in a growing industry in its early embryonic state. We're encouraged that our product line and business strategies are working and on-target" stated Chief Executive Officer, Dan Oran.
According to Arcview Market Research (https://arcviewgroup.com/product/world-market/) and its research partner BDS Analytics (http://www.bdsanalytics.com/ ), over the next 10 years, the legal cannabis industry will see much progress around the globe. Spending on legal cannabis worldwide is expected to hit $57 billion by 2027. The adult-use (recreational) market will cover 67% of the spending; medical marijuana will take up the remaining 33%.
The largest group of cannabis buyers will be in North America, going from $9.2 billion in 2017 to $47.3 billion a decade later. The largest growth spread, however, is predicted within the rest-of-world markets, from $52 million spent in 2017 to a projected $2.5 billion in 2027.
About Profile Solutions
Profile Solutions, Inc., through its subsidiary Elite Products International, Inc., is 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, creams, oils and salves. Additionally, the company developed and currently have working prototypes of a climate controlled positive identification secure depository. The Cannasafe is based on remote keyfob or fingerprint biometric access to the device. The Cannasafe was developed to store critical medications or valuables and keep them out of the reach of children or unauthorized access. Financial information can be found at https://www.otcmarkets.com/stock/PSIQ/profile. Please visit the company website at www.profilesolutionsinc.com, Facebook at https://www.facebook.com/EliteProductsINTL/, Instagram https://www.instagram.com/elite_hemp/, Linkedin at https://www.linkedin.com/in/elite-hemp-products-3a863914a/, Twitter at https://twitter.com/EliteHemp_Intl and 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.
Suite 201
Sunrise, FL 33351
Dan@ProfileSolutionsInc.com
(844) 856-8838