CORONA, Calif., Aug. 14, 2017 (GLOBE NEWSWIRE) -- Acology Inc. (OTC:ACOL) released its second quarter 10-Q this past Friday, highlighting Acology’s strong run of success in 2017, underscored by the sharp reduction in company debt and posting steady earnings throughout the quarter.
Emphasized by the retirement last week of the $250K 3rd party convertible note and the announcement that no shares were issued in order to retire the debt. Acology has begun building new business and pushing ahead to the end of the year. A further debt reduction of over $400K was removed from Acology’s balance sheet through the issue of common stock.
Other 10Q highlights include:
- 2nd Qtr Sales $545,205 in 2017 vs $427,026 in 2016
- 2nd Qtr Gross Profit $360,381 vs $247,431 in 2016
- YTD Sales $1,090,035 in 2017 tracking over $2,000,000 for 2017
- 2nd Qtr Net Profit $98,648 vs a Loss of $90,614 in 2016
- YTD Net Profit of 106,525 in 2017 vs a Net Loss of $119,243 in 2016
Acology is now in position to take full advantage of the many business opportunities that lay ahead for the rest of 2017, including the move into the CBD and extract industry, pharmaceutical and medical sales of a growing line of products, finalization of the expansion into the health-supplement industry and the opportunities presented early in the year of further expansion on an international level.
For investor or sales information please visit Acology Inc. and D&C Distributors online or by phone. The company is located in their production and distribution facility at 1620 Commerce St. Corona, California, 92880.
Acology trades on the OTC under the call letters ACOL. The company’s websites are www.Acologyinc.com for the hospice and palliative care industry and www.themedtainer.com for the recreational and medical marijuana industry. Orders for Acology products can be taken online and by phone. Custom orders are especially welcome. Please send all inquiries to info@acologyinc.com or call (844) ACOLOGY (844-226-5649). Ask for Jack Rein, National Services Director. Acology can also be accessed through Twitter and Instagram at @Acologyinc
This press release includes statements that are covered by the Private Securities Litigation Reform Act of 1995. Because such statements deal with future events they are subject to risks and uncertainties and actual results for fiscal year 2016 and beyond could differ materially from the company’s current expectations. Forward-looking statements are identified by such words as “anticipates”, “projects”, “expects”, “planned”, “intends” and “believes” “estimate” “targets” and other similar expressions that indicate trends and future events. It is understood that investment entails risk on the part of the investor and could result in the loss of some or all his or her investment.