CARLSBAD, Calif., May 20, 2019 /PRNewswire/ -- With the release of its first quarterly results last week, NEWYOU, Inc. (NWYU) formerly Radiant Creations Group, Inc. (RCGP) came out of the new year with a name change and better than expected earnings.
CEO Ray Grimm attributes the company's success to the purchase of NEWYOU LLC. "Timing was key. The acquisition of NEWYOU LLC was a really good move as CBD (Cannabidiol) products are gaining popularity throughout the USA. We believe this is only the tip of the CBD proverbial iceberg. We are happy to report NEWYOU LLC revenue for eight months exceeded $1.5 million, more than initially projected."
The company's revenue from August 2018 to December 2018 was $825,226 with the three months ending March 31, 2019 at $728,408. The gross margin increased 81% for the first quarter of 2019.
NEWYOU, Inc. officially began operations in August 2018 with product formulations focusing on Phytocannabinoid-Rich Hemp CBD products. Its flagship product DROPS is a proprietary Nano-Amplified™ water soluble, tasteless and super bio-available CBD water enhancer allowing you to easily add CBD to any beverage. A pet friendly version of DROPS was also released at the same time. NEWYOU also offers CB2, a full-spectrum CBD 550mg tincture product that includes the cannabinoid Beta-Caryophyllene.
NEWYOU, Inc. will continue to search for and develop products and companies that fit the current mission and culture of the company, as well as have the marketability to capitalize on the expected growth in the hemp-CBD market. The company has identified several other business models that would fit well under the NEWYOU, Inc. umbrella. Management will be focused on strategies to diversify revenue streams and business development in the month's ahead to dial-in on which of those models, brands or product should be added next.
Safe Harbor Act: Statements in this press release that are not based on historical fact are "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as "believe," "expect," "may," "will," "should," "could," "seek," "intend," "plan," "goal," "estimate," "anticipate" or other comparable terms. We believe the expectations reflected in our forward-looking statements are reasonable, although we cannot guarantee achievements, future results, levels of activity, performance, or other future events. These statements are based on management's current expectations and actual results may differ from these forward-looking statements due to numerous factors, including risks related to our ability to raise additional capital, liquidity, revenue growth, operating results, industry, regulations, technology and products, any of which could cause us to not achieve some or all of our goals, or cause our previously reported actual results and performance to change or differ from future results, performance, or achievements, including those expressed or implied by such forward-looking statements. You should not place undue reliance on these forward-looking statements. Furthermore, the forward-looking statements contained herein are made as of the date of this press release, and we undertake no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this press release, unless otherwise required by law.
Contact:
Tammy Boonstra[email protected]
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CEO Ray Grimm attributes the company's success to the purchase of NEWYOU LLC. "Timing was key. The acquisition of NEWYOU LLC was a really good move as CBD (Cannabidiol) products are gaining popularity throughout the USA. We believe this is only the tip of the CBD proverbial iceberg. We are happy to report NEWYOU LLC revenue for eight months exceeded $1.5 million, more than initially projected."
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The company's revenue from August 2018 to December 2018 was $825,226 with the three months ending March 31, 2019 at $728,408. The gross margin increased 81% for the first quarter of 2019.
NEWYOU, Inc. officially began operations in August 2018 with product formulations focusing on Phytocannabinoid-Rich Hemp CBD products. Its flagship product DROPS is a proprietary Nano-Amplified™ water soluble, tasteless and super bio-available CBD water enhancer allowing you to easily add CBD to any beverage. A pet friendly version of DROPS was also released at the same time. NEWYOU also offers CB2, a full-spectrum CBD 550mg tincture product that includes the cannabinoid Beta-Caryophyllene.
NEWYOU, Inc. will continue to search for and develop products and companies that fit the current mission and culture of the company, as well as have the marketability to capitalize on the expected growth in the hemp-CBD market. The company has identified several other business models that would fit well under the NEWYOU, Inc. umbrella. Management will be focused on strategies to diversify revenue streams and business development in the month's ahead to dial-in on which of those models, brands or product should be added next.
Safe Harbor Act: Statements in this press release that are not based on historical fact are "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as "believe," "expect," "may," "will," "should," "could," "seek," "intend," "plan," "goal," "estimate," "anticipate" or other comparable terms. We believe the expectations reflected in our forward-looking statements are reasonable, although we cannot guarantee achievements, future results, levels of activity, performance, or other future events. These statements are based on management's current expectations and actual results may differ from these forward-looking statements due to numerous factors, including risks related to our ability to raise additional capital, liquidity, revenue growth, operating results, industry, regulations, technology and products, any of which could cause us to not achieve some or all of our goals, or cause our previously reported actual results and performance to change or differ from future results, performance, or achievements, including those expressed or implied by such forward-looking statements. You should not place undue reliance on these forward-looking statements. Furthermore, the forward-looking statements contained herein are made as of the date of this press release, and we undertake no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this press release, unless otherwise required by law.
Contact:
Tammy Boonstra[email protected]
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SOURCE NEWYOU, Inc.
