American Premium Water Corp (OTC:HIPH) Announces Largest Contract to Date Resulting in Over $833,000 in Revenue
PLAYA VISTA, California, Aug. 20, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- American Premium Water Corporation (OTC: HIPH) (“the Company”) announces that it has secured a contract through its UK subsidiary, which will generate over $833,000 of topline revenue. This is the largest contract for the Company to date, and puts the Company on a firm track to exceed its previously issued 2019 revenue guidance of $1 million.
American Premium Water Corporation CEO Ryan Fishoff stated, “I’m happy to announce that the Company has secured its largest contract to date, adding over $833,000 in top line revenue. The Company is making strides towards becoming the market leader in premium CBD infused consumer products. We have been making incremental progress towards bringing our products to market and generating revenue; shareholders are beginning to see the fruits of management’s labors. There is still a lot of work to be done; the Company has an ambitious business plan that it is focused on executing. There is a lot of business in the pipeline that the Company is working on closing to generate more sales and form partnerships that will create long-term growth to the Company’s top and bottom line. I am headed to London this week to ensure that Company completes the payment process for this contract so that we can add it to the 2nd quarter filings.”
The contract was executed in the 2nd quarter of 2019. The payment, which originated from the UK, had not settled at time of filing deadline. After consulting with the Company’s retained accountants, it was determined that it would be in the Company’s best interests to file 2nd quarter financials to remain compliant with OTC Markets and will amend the filing upon completion of the clearing process in accordance with Generally Accepted Accounting Principles (“GAAP”).
“Aside from work on this contract and the two-container order that we announced last week that should be shipping out next month to the UK, the Company has been focusing on Canyon Create, investing more capital and resources this quarter into expanding distribution of Vanexxe, which is currently available on Wal-Mart.com. This ground breaking product fulfills a need for an affordable and effective cosmetic treatment for unsightly varicose veins, which before its launch didn’t exist in the marketplace. The Company is also set to launch its Prickly Pear acne cream, which uses CBD and CBG as its activating agents. The Company feels this product has the potential to become a market leader relatively quickly. We’re excited for Canyon and the Company’s other initiatives that will be picking up steam in the 2nd half of the year. I look forward to keeping the investor and shareholder community informed as I am able to update everyone accordingly.”
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The Company was recently given a short-term price target of $0.05-$0.06 by Ludlow Research. To read full report, risks, and disclosures, click here
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About American Premium Water Corp.
American Premium Water (OTC: HIPH) is a diversified luxury consumer products company focused on businesses in the health and beauty and biotech sectors. The company is focused on harnessing the powers of Nano technologies paired without cannabidiol (CBD) to treat health disorders and enhance quality of life. The company’s portfolio includes the LALPINA Hydro and LALPINA CBD brands (www.lalpinahydrocbd.com), Gents (www.gentsco.com), Vanexxe (www.vanexxe.com) and plant + body essentials (www.plantbodyessentials.com).
American Premium Water strives in providing only the highest quality hemp-derived CBD sources for its products, with quality control being one of our first and foremost focuses. The Company aims for this standard not only for compliance reasons, but also to provide our customers the highest quality product possible.
Safe Harbor Notice
Certain statements contained herein are “forward-looking statements” (as defined in the Private Securities Litigation Reform Act of 1995). American Premium Water Corporation cautions that statements made in this news release constitute forward-looking statements and makes no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates and assumptions made by management. Actual results could differ materially from current projections or implied results. American Premium Water Corporation undertakes no obligation to revise these statements following the date of this news release. Additional details of the Company's business can be found in its public disclosures as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database.
This press release is issued on behalf of the Board of Directors of American Premium Water Corporation.
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