Vet Online Supply $265M Financial Forecast -- CEO Update
Vet Online Supply, Inc.
Aug. 28, 2018
San Francisco, CA, Aug. 28, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Vet Online Supply, Inc. (OTC PINK:VTNL) (“Vet Online Supply” or the “Company”), an innovative holistic hemp and cannabis pet products corporation, is pleased to announce the CEO update for the 2018-2019 financial forecast as follows:
Danial Rushford, CEO, stated, “Our expected financial forecast for 2018-2019 includes revenues from online sales, revenues from direct sales, revenues from retailers and revenues from online pet pharmacies. Our brand products that we manufacture today include oral sprays, drops and treats that are CBD formulated with accepted industry standards, and tested from a certified Lab. Our testing lab is based in Northern California. Our scientists and chemists continue to explore new applications of our products.
“Our website online sales commenced in 2017 and to date we have sold less than $10,000. By year-end of 2018 we expect to see an increase to $50,000, and during 2019 projected website online sales of $120,000. In 2018 we partnered with a CBD retailer and received two purchase orders totaling $9M over the next 2 years for exclusive rights for their dispensary contracts on the west coast between California and Washington. To date our products are now currently being introduced to approximately 200 dispensaries, with projections of revenue totaling $75M over the next 5 years. We anticipate reporting stronger revenues in 2018 and throughout 2019 for this industry.
“In 2018 the company announced expanding its sales force up to 200 sales representatives throughout the USA, Canada and Europe. We have also announced the appointment of our new Sales Director and application and resourcing to the Big-Box retailers and online pharmacies. This program is now underway and expected revenues over the next 5 years are approximately $265M. We continue to increase our sales force and lay the groundwork for Europe in November 2018.
“In 2018 and throughout 2019 the company will be introducing new product additions to its existing pet product line as a strategic move to utilize newer science applications for CBD based pet products. These new products will include performance based pet products and pharmaceutical based products.
“We are relocating our facility in 2019 to a newer commercial facility in Northern California as we continue to grow. I have allowed access, rent free, to office and storage space on my personal property in Kelseyville, California as a means to manage expenses while we focus on growth and planting our feet firmly into this industry. This is not a race, and there is no room for irrational decisions. We are a small company that is gaining traction in a growing CBD based industry. There are monumental changes with government and politics as the acceptance of the efficacy in the use of CBD is recognized by credible institutions. We are thankful to our investors, shareholders and service providers who continue support the company’s core business model.”
For sales contact Brad Pesu at BradPesu@vetonlinesupplies.com
ABOUT VET ONLINE SUPPLY:
Vet Online Supply Inc., the company, manufactures its own brand of holistic pet products to promote health and well being.
Safe Harbor for Forward-Looking Statements: This news release includes forward-looking statements. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The Company's operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are and will be set forth in the company's periodic filings with the U.S. Securities and Exchange Commission.
Contact: Meridian Consulting 323-364-3793