Endexx (EDXC) provides innovative medical marijuana management and technology solutions. Endexx, with its collaborative partners and consultants, develops and distributes consumable product lines. The company has two technology products and services that launched in 2014 — the M3hub and the Autospense. EDXC has been one of the more quiet marijuana stocks lately.
The company’s share price continues to slip from over $0.075 per share to $0.03 a share at the end of latest trading session. Falling revenue and declining earnings are the key drivers behind the fall of this penny marijuana stock. Currently its outstanding shares are around 232,093,247 and authorized shares at 1,000,000,000
Recently, the company announced results for the third quarter with lower than expected revenue and higher than expected losses. In Q3, its revenue declined to $42K, relative to the revenue of $59K in the same period of last year.
Though the company’s revenue has been declining over the couple of consecutive quarters, however its customer base continued to enlarge considerably with its products at the moment sold in more than 80 stores.
During the third quarter, the company further established a footprint to expand its CBD sales program, which is straightforwardly recognized to the growth in awareness of its product line benefits. The company’s products keep on generating outstanding results for its clients, as the response from the medical society has been extremely encouraging and positive.
Therefore, Endexx is expecting a strong growth in its revenue over the coming years. The company has increased distribution of its consumer products in excess of 30% in retail stores. It is also in a sound cash position to fund its operation with $26K of cash in hand at the end of latest quarter.
Overall, it appears that Endexx is on the verge of rebound with its revenue expansion initiatives and returning the company back towards profitability making it an enticing penny stock.