Delivra Posts Financial Report Q1 2017

Delivra (TSXV:DVA) released their financial numbers for the first quarter of 2017.
As quoted in the press release:

Q1 2017 Financial and Operational Highlights:

• Increased revenue by 26% from $992,682 to $1,252,297, driven by growth in sales of the Company’s flagship LivRelief products;
• Completed a licensing agreement with Dosecann Inc. and ARA-Avanti RX Analytics to develop a unique suite of standardized cannabis-based products for medical cannabis research, development, and commercialization markets;
• Advanced product development for the Company’s pharmaceutical portfolio; and
• Expanded the Company’s patent portfolio to 8 pending patents highlighting the broad applicability of the Company’s proprietary delivery system;
• Increased operating efficiencies and reduced the number of employees, resulting in annual savings of approximately $750,000, while achieving record revenues for a quarter.

“We delivered a record quarter, increasing sales while significantly reducing our costs. These results reflect strong demand for our suite of consumer products and executing on our strategy of building a portfolio of consumer and prescription products using our platform technology,” said Dr. Joseph Gabriele, CEO of Delivra Corp. “Our near-term priority continues to be growing our revenue and generating licensing revenue. Specifically, we will continue to focus on growing our Canadian retail business and developing our pharmaceutical products which include the roll-out of a novel suite of medical cannabis and hemp products.”

Click here to read the full press release.

Source: www.marketwired.com