Elite Products International, Inc., a wholly owned subsidiary of Profile Solutions Inc (OTCMKTS:PSIQ), has posted a revenue of $ 142,618.72 (up 1500%) during January and February 2018 when compared to $ 9,617.57 during the same period last year.
Mr. Dan Oran, Chief Executive Officer said the company has set to increase revenues as well as market share for the cannabidiol products in 2018. The company is moving in line with its set targets as per the upbeat earnings.
The legal cannabis market is likely to post excellent growth worldwide in the next ten years according to the estimates of BDS Analytics and Arcview Market Research. The legal cannabis spending across the world is expected to reach $57 billion in the next 10 years. The medical marijuana accounts for 33% whereas recreational use of cannabis will account for 67%.
North American buyers will account for a whopping $47.3 billion by 2027 a considerable increase from the levels of $9.2 billion in 2017. The rest of the market worldwide will contribute to the largest spread during this period. The market for cannabis from rest of the world will reach $2.5 billion by 2027 from $52 million in 2017.
Profile Solutions Inc Acquires Elite Products International, Inc to Establish Footprint in Hemp, Cannabis and Cannabinoid
Profile Solutions Inc has taken over Elite Products International, Inc to enter the cannabis industry. The company will get an upper hand CBD products. Medical CBD is used for the treatment of anxiety, stress and pain. CBD has anti-inflammatory, anti-depressant, analgesic and anxiolytic properties.
Brief Information about Profile Solutions Inc
Profile Solutions Inc. conducts the business operations through its subsidiary Elite Products International, Inc. The company is a leader in the production as well as the distribution of cannabinoid.
The company’s product line consists of CBD industrial hemp extracts available in the form of creams, salves, oils and edibles. It is also working on the prototypes of the climate controlled secure depository. The company has developed Cannasafe for safeguarding valuables or critical medications and prevents unauthorized access. It will be out of reach of the children. The access to the Cannasafe is through a biometric fingerprint or a remote keyfob.