OMID Provides First-Quarter Financial Highlights

April 15, 2021 10:00 AM EDT

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ALPHA, N.J., April 15, 2021 /PRNewswire/ -- Today, OMID Holdings, Inc. (OTC Pink: OMID) has completed an initial financial review of its first quarter operations. The Unaudited Key Financial Highlights are provided below for the Three Months Ended March 31, 2021.

  • Revenue for the current period was $278,124 compared to $21,108 for the three months ended March 31, 2020, a 1217.6% improvement from the same quarter in 2020.
  • Gross Profit for the current period was $139,126, compared to $3,880 for the three months ended March 31, 2020, a 3485.7% improvement from the same quarter in 2020.
  • Net income before income taxes for the current period was $47,526, compared to a loss of $20,896 for the same period last year, a 327.4% improvement.

"The first quarter of each year has been historically challenging due to a variety of seasonal factors including but not limited to supplier holidays as well as the implementation of new industry regulations and laws. Our results for the first quarter of 2021 have been very encouraging as we continue to execute on our long-term vision for the future of the company. We remain well-positioned and eagerly await the opportunity to take advantage of the evolving recreational cannabis industry in NJ," stated Adam Frank, OMID's Chairman & CEO.About OMID Holdings, Inc.OMID Holdings, Inc. is a publicly-traded (OTC Pink: OMID) Florida corporation which focuses on developing and manufacturing various health and wellness products at its FDA-registered clean room facility in Phillipsburg, NJ. With a diverse portfolio of product types, OMID specializes in formulations which contain cannabis extracts as well as other herbal ingredients. The company objective is to provide quality, integrity, and value with notable consumer benefits derived from all of its finished goods.For more information about the company, please visit https://omidholdingsinc.com/.Safe Harbor Act:  Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.

Contact: info@omidholdingsinc.com, +1-908-386-2880

Cision View original content:http://www.prnewswire.com/news-releases/omid-provides-first-quarter-financial-highlights-301269305.html

SOURCE OMID Holdings, Inc.



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