OMID Provides Fourth-Quarter and Year-End Financial Highlights
01 Febrero 2022 - 9:00AM
InvestorsHub NewsWire
Phillipsburg, NJ -- February 1, 2022 --
InvestorsHub NewsWire -- Today, OMID Holdings, Inc. (OTC
Pink: OMID) is pleased to share the results of an initial
financial review of its fourth-quarter operations. The Unaudited
Key Financial Highlights are provided below for the Fourth Quarter
as well as the Year which ended on December 31,
2021.
Operating Results for the Fourth Quarter of
2021
- Revenue for 4Q2021 was $1,179,409 compared to
$1,084,325 for 3Q2021, a 9% improvement. In addition, 4Q2021
Revenue increased by $690,263 or 141% from $489,146 for
4Q2020.
- Gross Profit for 4Q2021 was $590,749 compared to
$488,397 for the 3Q2021, a 21% improvement. In addition, 4Q2021
Gross Profit increased by $303,663 or 106% from $287,086 for
4Q2020.
- Net Income before Income Taxes* for 4Q2021 was
$469,034 compared to $422,729 for 3Q2021, a 11% improvement. In
addition, 4Q2021 Net Income before Income Taxes* increased by
$228,510 or 95% from $240,524 for
3Q2020.
Operating Results for the Year of
2021
- Annual Revenue for 2021 was $2,768,543 compared to
$1,330,068 for the prior year, a 108%
improvement.
- Annual Gross Profit for 2021 was $1,351,704
compared to $649,435 for the prior year, a 108%
improvement.
- Annual Net Income before Income Taxes* for 2021 was
$994,521, compared to $425,757 for the prior year, a 134%
improvement.
“OMID’s financial highlights, which detail record
revenues for both the fourth quarter and the year of 2021, convey a
narrative of profitable growth organically-fueled by business
operations. We inherited an ‘Accumulated Deficit’ as a direct
result of our reverse merger with AVOP and I’m proud to say that
we’ve converted this term on our balance sheet into ‘Retained
Earnings’ - a goal of mine since day one. Having officially pulled
this off, our future ambitions begin with an uplist to the OTCQB.”
stated Adam Frank, Chairman & CEO of OMID Holdings,
Inc.
Please use the following link to view a short video
with the CEO regarding these financial highlights:
https://youtu.be/noK_3JfrB9A
*These figures exclude income tax expenses and all
unrealized gains and/or losses on
investments.
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.
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