Lotus Bio-Technology Reveals Financial Position of Strategic Partner, as Relationship Strengthens with the Creation of New CBD Product Line
PHOENIX, Nov. 9, 2016 /PRNewswire/ -- Lotus Bio-Technology Development Corp. (OTC: LBTD), (the "Company") is pleased to announce that as the relationship between Companies strengthens, sales figures from its affiliate, Hunan Canshi Biological Technology Co. Ltd (HC) continue to soar.
This is the driving force that affords the Company the opportunity to expand into the popular emerging CBD Market with innovative proprietary organic blends. Having cultivated this affiliation, the Company is now positioned to bring exclusive premium organic CBD products to the marketplace. Product launch is imminent, and will be announced immediately upon release.
"The sales figures are exceedingly impressive," said Michael Palethorpe, President of Lotus Biotechnologies. "We have witnessed the massive growth potential in the Chinese organic products market. We foresee exponential continued growth for our affiliate, as well as a continual strengthening in our own market share, particularly as we prepare to release our new CBD Blends." Management believes that this reveals that the organic industry, being in early stages, still has exceptional growth potential, especially in the untapped CBD industry. Mr. Palethorpe concluded: "We believe that we are moving in the right direction, in terms of our strategic alliance with this thriving company, and have great expectations for what the future holds."
The Company has positioned itself to be able to capitalize on the momentum being developed by industry pioneers like Hunan Canshi. The Company's sales for the month of April 30, 2016, were 3,510,865 RMB, (approximately $534,333 USD.) Compared with March sales of 3,150,000 RMB ($479,411 USD), the total month by month revenue from March to April increased by 11.45%.
Total sales for the period beginning January 1, 2016 through April 30, 2016, reached 12,760,865 RMB, (approximately $1,942,130 USD) July Sales 4,655,182 RMB ($697,181 USD) were slightly down from June sales of 4,765,241 RMB ($713,663 USD), and Hunan Canshi's Management team is highly anticipating the total revenues for the year to continue to trend upward into the range of 6-7 million USD.
About Lotus Bio-Technology Development Corp.: Lotus Bio-Technology is an Arizona based bio-technology Development Company that specializes in the refining of organic materials and the production of natural consumer related products. The Company has the rights to farmland in China of 1,000 hectares, which are approximately 100 football fields combined. Our mandate is to grow various plants under strict organic standards and produce organic based consumer related products which are completely natural. The products will strike a balance between affordability and produced in an environmentally responsible way and not be grown with pesticides, synthetic fertilizers, antibiotics, growth hormones or other dangerous chemicals while ensuring a solid financial return for our shareholders. The Company is a publicly traded company having its common shares quoted on the OTC Markets under the symbol LBTD.
Cautionary Note Regarding Forward-Looking Statements: This news release contains forward-looking statements about our business or financial condition and prospects that reflect our assumptions and beliefs based on information currently available. We can give no assurance that the expectations indicated by such forward-looking statements will be realized. There may be other risks and circumstances that we are unable to predict. When used in this news release, words such as "believes," "expects," "intends," "plans," "anticipates," "estimates" and similar expressions are intended to identify forward-looking statements, although there may be certain forward-looking statements not accompanied by such expressions. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including risks discussed in the company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.
For more information please visit: www.lotusbiotechnologies.com
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SOURCE Lotus Bio-Technology Development Corp.