ODI Pharma AB: Publication of interim report for the first quarter 2021/2022
ODI Pharma AB (“ODI Pharma” or the “Company”) hereby publishes its interim report concerning the period July 2021 – September 2021. The report is available as an attached document to this press release and on the Company’s website (www.odipharma.com). Below is a summary of the report.
First quarter (2021-07-01 – 2021-09-30)
The Group's net sales amounted to SEK 0 (0).
The Group's loss after financial items amounted to SEK -1,175,388 (-1,268,107).
Result per share amounted to SEK -0.08 (-0.08).*
The solidity as of 2021-09-30 was 94 % (97 %).**
* The Company’s result per share: The result for the period divided by the number of shares at the end of the period. The total number of shares as of 30th of September 2021, amounted to 15,220,000 (15,220,000) shares. The result per share based on the average number of shares of 15,220,000 (15,220,000) amounts to SEK -0.08 (-0.06) for the first three months 2021-07-01 to 2021-09-30.
** Solidity: Equity divided by total capital.
Highlights during Q1
• July – ODI Pharma announced that Niclas Kappelin acquired 20,000 shares in ODI Pharma and that he thereby exceeded the threshold of five percent.
• August – ODI Pharma approved the official launch of the exclusive CBD-infused skincare line kandol., which will be available online at www.kandol.net starting mid-September 2021.
• September – ODI Pharma announced that the official launch date of kandol. will be the 1st of October 2021. The products will initially be available at www.kandol.net to customers within the EU.
Highlights after the period
• November – ODI Pharma published its annual report for the fiscal year 2020/2021.
CEO Derek Simmross comments
Our first quarter of the new fiscal year has passed. During these months, ODI Pharma has continued to break new grounds, in the field of medical cannabis and cosmetics products. We finalized a new milestone by approving the launch of our exclusive CBD-infused skincare line kandol. in the European market. The official launch date of kandol. was on the 1st of October 2021, with an initial product availability on the website www.kandol.net.
Thanks to extensive research and consumer tests, we see great potential and possible demand for our products. With these promising outcomes, I am proud and confident in continuing to represent ODI Pharma on our future journey.
As we have promised our investors, our focus on the release of kandol. is from a financially conservative, step-by-step growth perspective. It is our belief that this is the best process for us to ensure efficient and targeted spending on marketing. Thus, doing our best to provide investors with a reliable and safe path to high growth and profitability.
Our excitement about cosmetics should not cause our investors to forget about our primary business of providing medicinal cannabis to Polish patients. We are working hard on our primary business and the application process, preparing implementation and discussing future products for Project Poland. The discussions with the authorities are going as expected, and we are confident that we are getting closer to obtaining authorization for the distribution of medical cannabis in the market. We are confident in our primary business and anxiously waiting to unlock the great potential for an enormous opportunity for ODI. Our goal is to start operations in the not-so-distant future.
Lastly, I would like to thank our investors for the trust you have in our company. We will continue to work hard building to build shareholder value, and with our strong market position, I feel confident saying that we are on the right path on our future journey.
CEO, ODI Pharma AB
For more information on ODI Pharma, please contact:
Derek Simmross, CEO, ODI Pharma AB
ODI Pharma AB
ODI Pharma, based on its European network, subsidiaries and partners, is a producer and representative of finished pharmaceutical cannabis products with a focus on distribution to the medical cannabis market in Europe through its subsidiary ODI Pharma Polska Sp. z o.o. ODI Pharma intends to provide a high-quality product at a competitive price compared to competitors in Poland, thereby becoming the number one provider of medical cannabis in Poland. ODI Pharma also strives to be on the forefront of understanding the medical applications of the product as well as introducing new, innovative products to the European patients in need. The Company will continue to team up with the most knowledgeable and best renown partners in the industry to achieve its goals.