Alternate Health Reports $1.9 Million Of Revenue In Q2 2019

Alternative Health
CANADA: Alternate Health Corp., an international leader in CBD extraction, product development and distribution, has announced that the company generated $1.9 million in Q2 revenue.

“Alternate Health’s Q2 results represent just the beginning of our new strategic direction as we focus exclusively on the hemp-derived CBD industry and, especially, product development and distribution,” says Howard Mann, CEO of Alternate Health. “We have built a strong base to rapidly expand our hemp and CBD product lines and capture a larger share of this exciting market.”
 
The Company’s large year-over-year increase in revenue is tied to Alternate Health’s recent acquisition of Blaine Labs Inc. (“Blaine Labs”), a California-based pharmaceutical company. Alternate Health announced the closing of the Blaine Labs acquisition agreement in a press release on June 20, 2019. Since the transaction was closed midway through Q2, the Company’s financial results do not include the full three-month Q2 revenues of Blaine Labs.
 
Alternate Health expects an increase in revenue in Q3, since the quarter will include the full three-month period of Blaine Labs revenue. The Company also anticipates stronger results now that the agreement has closed, and the Company is not distracted with negotiation. Management can focus resources directly on generating revenues and launching new products.
 
“We are hard-at-work finalizing product formulations, negotiating with distributors and securing inventory as we combine the strengths of Blaine Labs and Alternate Health,” says Howard Mann. “We expect to see some movement in revenue for Q3 2019, with the full impact of our efforts taking effect in Q4 2019.”

A significant portion of Alternate Health’s operating expenses include non-cash or non-recurring expenses. Also, as noted above, the Q2 2019 only include approximately 2 months of Blaine Labs revenue. If we account for the extra month, Alternate Health would have been close to break even on cashflow.
 
Alternate Health benefitted from general reductions in professional fees, salaries and management fees as well, while the company streamlined and focused its efforts on securing and expanding revenue-producing assets. Alternate Health intends to continue focusing reaching greater profitability while generating strong revenue growth.

Read full article @ Alternative Health

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