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OMID Holdings, Inc. (OTC Pink: OMID) has acquired the health and wellness brand Champ Life, with no changes to its share structure. The acquisition includes a 5% royalty on Champ Life's net revenues, which may be eliminated under certain conditions. Chairman & CEO Adam Frank highlighted plans to expand into athletic markets and incorporate nootropic ingredients, diversifying their product range. OMID aims to enhance shareholder value by canceling personal shares to offset those issued in the acquisition.
On April 15, 2021, OMID Holdings, Inc. (OTC Pink: OMID) reported significant financial growth in its first quarter. Revenue surged to $278,124, marking a 1217.6% increase from $21,108 in Q1 2020. Gross profit was $139,126, up 3485.7% from $3,880 last year. The company also achieved a net income before taxes of $47,526, reversing a loss of $20,896 in the same period the previous year. Despite historical challenges in Q1 due to seasonal factors, OMID remains optimistic about the evolving recreational cannabis market in New Jersey.
OMID Holdings, Inc. (OTC Pink: OMID) has released a shareholder letter from Chairman and CEO Adam Frank, detailing the company's updates as of March 2, 2021. The company operates a FDA-registered facility in Alpha, New Jersey, focused on manufacturing hemp-based products for private label and in-house brands. For more information, stakeholders can access additional resources via the company’s official website.
OMID Holdings, Inc. (OTC Pink: OMID) announced new corporate initiatives in January 2021 aimed at protecting shareholders from inflation concerns. The company plans to invest cash reserves into cryptocurrencies and silver, with intentions to diversify further into alternative assets like energy and commodities. Additionally, OMID is reducing the number of outstanding common shares by converting insider-owned shares into preferred shares. Chairman Adam Frank emphasized the commitment to shareholder value and the company's growth in the health and wellness sector.
OMID Holdings, Inc. (OTC Pink: OMID) reported strong financial performance for Q3 2020. Revenue reached $356,444, nearly doubling from $178,435 in Q3 2019, marking a 99.8% increase. Gross profit improved by 83.1% to $156,713, while net income surged 1109.1% to $96,819. For the nine months ending September 30, total revenue rose 66.4% to $840,922, with net income increasing 641.6% to $185,233.
OMID Holdings, Inc. (OTC Pink: OMID) announced significant financial growth in its corporate update for Q2 2020. Revenue surged to $463,270, marking a 2084.4% increase quarter-over-quarter and 116.9% year-over-year. Gross profit reached $201,757, a 256.8% improvement, while net income soared to $109,311, reflecting a 599.7% increase. For the first half of 2020, total revenue was $484,478, up 48.2% year-over-year. CEO Adam Frank praised the team's performance amidst challenges from the pandemic.