CORONA, Calif., Nov. 13, 2018 (GLOBE NEWSWIRE) -- MedTainer™ Inc. (MDTR-OTCMARKETS) published their 3rd Quarter 10-Q today and report that gross sales in the quarter have increased approximately 22% compared to 3rd Quarter, 2017. This reflects the growing confidence that many of the licensed cannabis producers in Canada now have in the MedTainer and the MedX two-way humidity pack, offering a solution to the rigorous compliant packaging regulations in that country. Moreover, despite massive investment in infrastructure and preparation for steadily growing orders of Its’ signature product, the MedTainer™, operation losses in the last nine months of 2018 were approximately 1% year-over-year while amortizing the purchase of the MedTainer asset of $50,706 for the year.
The purchase of the entire MedTainer intellectual property portfolio, the purchase of new equipment, doubling the floor space of the factory and landing new business have conservatively increased the published value of the company by $2.5M as of September 30, 2018.
The 10-Q comes on the heels of the announcement that the Mexican ruling party has submitted legislation that would legalize cannabis for recreational use. MedTainer Inc. already has a distribution network set up in that country and is prepared to fully exploit the opportunity once the legislation becomes law. Inevitably, and as early as this spring, the US will change the current designation of cannabis and the entire North American continent will become the largest cannabis market in the world. As is shown in the 10-Q, MedTainer Inc. is perfectly positioned to become the lawful, safe and compliant packaging solution for that market.
For investor or sales information please visit MedTainer 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.
MedTainer Inc. trades on the OTC under the call letters MDTR. The company’s websites are www.Medtainerinc.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@MedTainerinc.com or call 844-226-5649. Ask for Jack Rein, National Services Director. MedTainer Inc. can also be accessed through Twitter and Instagram at @MedTainerinc
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.