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OMID Provides Third-Quarter Financial Highlights

Ryan Allway

October 12th, 2021

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ALPHA, N.J., Oct. 12, 2021 /PRNewswire/ — Today, OMID Holdings, Inc. (OTC Pink: OMID) has completed an initial financial review of its third quarter operations. The Unaudited Key Financial Highlights are provided below for the Three Months Ended September 30, 2021.

 

Operating Results for the Nine Months Ended September 30, 2021

  • Revenue for the nine months ended September 30, 2021 was $1,589,133 compared to $840,922 for the nine months ended September 30, 2020, a 89% improvement from the same period in 2020.
  • Gross Profit for the nine months ended September 30, 2021 was $760,956, compared to $362,349 for the nine months ended September 30, 2020, a 110% improvement from the same period in 2020.
  • Net Income before income taxes for the nine months ended September 30, 2021 was $526,287, compared to $185,233 for the same period last year, a 184% improvement.

Operating Results for the Three Months Ended September 30, 2021

  • Revenue for the three months ended September 30, 2021 was $1,084,325 compared to $226,684 for the three months ended June 30, 2021, a 378% improvement from the previous quarter. In addition, revenue for the third quarter of 2021 increased by $727,881 or 204% from $356,444 for the three months ended September 30, 2020.
  • Gross profit for the three months ended September 30, 2021 was $488,397 compared to $133,433 for the three months ended June 30, 2021, a 266% improvement from the previous quarter. In addition, gross profit for the third quarter of 2021 increased by $331,684 or 212% from $156,713 for the three months ended September 30, 2020.
  • Net income before income taxes for the three months ended September 30, 2021 was $422,729 compared to $57,313 for the three months ended June 30, 2021, a 638% improvement from the previous quarter. In addition, net income for the third quarter of 2021 increased by $325,910 or 337% from $96,819 for the three months ended September 30, 2020.

 

 

“I’m thrilled to report these financial highlights, which mark a new record in the company’s recorded revenue from operations during a single quarter. As previously stated, I expect our success to continue through the end of the year and into the foreseeable future as our private label business operations expand further. The OMID team has met and exceeded all of its annual goals for the past two years since we became public in February, 2020; we intend to maintain our progress and deliver on our commitments for the benefit of all OMID shareholders.” stated Adam Frank, Chairman & CEO of OMID Holdings, Inc.

 

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 manufacturing facility in Phillipsburg, NJ. With a diverse portfolio of product types, OMID specializes in formulations which contain cannabis extracts, primarily CBD, as well as other herbal ingredients. The company’s objective is to provide quality, integrity, and value with notable consumer benefits derived from all of its finished goods. Acts 2:12.
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

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

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