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Omni Health Inc (OTCMKTS:OMHE) Declines Despite Recording Profits

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Omni Health Inc (OTCMKTS:OMHE) has observed an overall downward trend in the stock market, for the last 1-month, as it lost approximately $0.01 of its share value, during the period. The stock is currently trading at a share price of $0.0236 and is expected to continue fluctuating in the market, for the near future. Although the company last issued an update earlier this month, it has been irregular with them. Most recently, OMHE announced its financial results for the 3Q2017, recording a gross income of $1.4 million. So far, Omni Health has recorded a gross income of $3.2 million, for the nine-months ended January 31, 2017, while the net profit for the period stands at $915,000.

Andrey Soloviev, the CEO of the company, expressed his pleasure at the results and pointed out that they have started to incorporate revenue from their pharmacy business. He also hinted at the possibility of broadening their scope, through strategic partnerships and opportunities, which may arise in the future. Speaking about OMHE’s expansion into the cannabis and biotech industries, the CEO stated that they were developing anti-aging creams and lotions, for that segment.

Prior to this, Mr. Soloviev also wrote a letter to shareholders of the company, on February 9, 2017, in which he claimed that a number of frequent updates would follow, to allow shareholders to stay in loop about the company’s business activities. Over a month later, there has been no update, as yet. However, in the letter, the CEO claimed that their full year revenues revenues have reached $6 million and are expected to grow, in the near future. He further claimed that Omni Health was in the final stages of a number of strategic acquisitions, which would accelerate their expansion.

Under its long-term growth plan, the company plans to expand into the division of specialty pharmaceuticals, marijuana cultivation, anti aging brands and therapeutic cannabis products. Mr. Soloviev remains confident that their pipeline of new products has never been more robust. Moreover, Omni Health has been recruiting professionals, to help expand this growth.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of MMJReporter.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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