ATLANTA, GA, March 07, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Viratech Corp. is pleased to announce the filing of financial statements as of September 30, 2018. This was due to the company, aside from entering the marketing phase of its products, had made two acquisitions during the first half of 2018, both of which will be discussed further in news releases. The company had to bring all accounting records to full GAAP compliancy and gained knowledge of these deficiencies in late 2018 when the holiday season had commenced. In the future, the company does not expect for this to be an issue as the company plans to timely file its annual report and maintain full compliance with such deadlines.
Cambridge Golf, a wholly-owned subsidiary of Viratech Corp. (OTC PINK: VIRA), continues to target the rapidly growing multi-billion-dollar US market for golf, nutrition, and wellness products with the acquisition of Medori, LLC (www.medoricbd.com), headquartered in Atlanta, GA. Medori produces and markets the finest CBD products in the world, by using the finest organic hemp grown to the strictest standards to ensure the highest quality. In addition, Medori is dedicated to the research and development of premium hemp extracts containing a wide array of cannabinoids and organic hemp derivatives. Medori CBD products are available uninhibitedly in all 50 states as they are produced using federally legal CBD. Products can be purchased immediately on its web site, www.medoricbd.com, for domestic and select international delivery, as well as plans to be in select retailers.
With Cambridge focusing on a generational game such as golf where the core demographic continues to age and the main injuries sustained during play tend to be of the muscular and joint related nature, the emerging CBD market with the benefits of such products allow golfers to potentially extend their playing years by adding CBD to their daily golf ritual. With the addition of Medori, Cambridge Golf continues to position itself to bring innovation to the golfing market with creative performance, nutrition, and health/wellness products.
“The addition of Medori CBD is in line with our strategy of organic and inorganic (acquisitions) growth to ensure long term shareholder and Company value,” commented Craig Forney, President and Chief Executive Officer. He added, “We are pleased to add Dr. Anthony Didato, Dr. Brian Pugh and their team to Cambridge, Medori will continue to serve its existing markets with current and future products. We have plans to leverage their market leading product formulations and packaging/branding acumen to create industry leading golf focused CBD products under our Gimme Brand. Details of this acquisition caused a small delay in Cambridge Golf financial reporting filings as we needed to ensure full accounting compliance and completeness.”
“Cambridge Golf is a platform to accelerate innovation for the golfing market. We are excited to join their team of companies and add innovative and beneficial CBD products to expand their market coverage,” stated Dr. Anthony Didato, Managing Partner Medori CBD. He added, “CBD oil can help to regulate sleep, mood, pain and inflammation, allowing you to maintain an internal balance despite the ups and downs of life - and your golf game!”
About Cambridge Golf:
Cambridge Golf is publicly traded holding company that designs and manufactures innovative sporting goods, clothing, supplements and accessories to the sports, nutrition and golf markets. The Company plans on continuing to extend and deepen its product lines to include other progressive market segments through acquisitions and organic growth of existing product lines. Cambridge Golf is publicly traded on the OTC market under the symbol (VIRA). www.cambridgegolfing.com
Forward-Looking Statements:
This press release includes forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, and also includes selected operating results presented without the context of accompanying financial results. These forward-looking statements include, among others, statements with respect to our objectives and strategies to achieve those objectives, as well as statements with respect to our beliefs, plans, expectations, anticipations, estimates or intentions. These forward-looking statements are based on our current expectations. We caution that all forward-looking information is inherently uncertain and actual results may differ materially from the assumptions, estimates or expectations reflected or contained in the forward-looking information, and that actual future performance will be affected by a number of factors, including economic conditions, technological change, regulatory change and competitive factors, many of which are beyond our control. Therefore, future events and results may vary significantly from what we currently foresee. We are under no obligation (and we expressly disclaim any such obligation) to update or alter the forward-looking statements whether as a result of new information, future events or otherwise.