In this update video, President and COO, Matthew Mills, discusses how the company has managed to keep generating revenue during the current California and Los Angeles County Stay-at-Home order, by continuing to fulfill essential business demands.
Nature-Cide and Thermal-Aid continue to see a steady amount of orders going out to our multiple distribution partners, as well as facilitating consumers directly via our Amazon FBA positions.
A new opportunity has also presented itself during these disruptive times. As of April 3rd, 2020 the State of California has made it possible for all QAL license holders in pest control operations to now also conduct sanitization services. We already own all the essential equipment and gear to properly enter this market on the service side all in all-natural applications. This will widen the Nature-Cide service offerings and open the door from more revenue on the expanding service side of the business.
We have recently had several discussions with the team from the Journal of Florida Mosquito Control Association. We plan to supply as many products as they need to continue testing Nature-Cide products, including the impact of the product on pollinators and aquatic life. These third-party field tests help us and other pest control operators truly understand how to use our products and how powerful they are when going head to head with the top synthetic brands.
Toxicity testing for Nature-Cide concentrated liquids is now underway. We have engaged with a laboratory called, Stillmeadow. Testing is being conducted on the All-Purpose Concentrate and the Pest Management X2 Concentrate. The ETA on the results of this testing will be the end of May. The purpose of this testing is to provide our international customers with the necessary completed toxicity protocols which are needed to import these products into various countries. This is going to open the door to most of the international markets that require toxicity testing to import all pesticide products.
Over the past few months, the company has also been working to build its catalog of products under the Malibu Brands division. We are well-positioned and prepared to start manufacturing small runs of a variety of CBD products including a line of pet products. Once our inventory starts to grow we will be presenting these products to our OTC distributors in hopes of eventually positioning with our OTC pharmacy footprint that we already have in place with our Thermal-Aid division.
Revenue for Q1 of 2020 is beating our initial projections at this point for the year. This is a 190% growth from this same time in 2019. In the video, Matthew showcases a chart showing this revenue comparison.
We cannot thank all of the shareholders enough, especially the folks who have stepped up to help us get the Toxicity testing underway and making sure we stayed our ground during this turbulent time.
We will continue to stay positive while taking advantage of all the opportunities that continue to present themselves.
Again, thank you for all of your support and stay tuned for more updates.
Be safe and take care.
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The securities offered by Med-X, Inc. hereby are highly speculative. Investing in shares of MED-X, INC. involves significant risk. This investment is suitable only for persons who can afford to lose their entire investment. Furthermore, investors must understand that an investment could be illiquid for an indefinite period of time. No public market currently exists for the securities and if and when a public market develops following this offering it may not continue. You should read the NEW Offering Circular as well as all Securities Exchange Commission filings before making any investment in the Company.
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