Vodis Pharmaceuticals Inc. (CSE: VP / FSE: 1JV) announced today the Company wishes to Clarify Certain Disclosure. 

At the request of IIROC the Company wishes to clarify certain disclosure of future oriented financial information disclosed in its news release dated February 23, 2017.  Specifically the revenue projection was not explained in the context of its associates and related costs. 

The Company anticipates revenues to Vodis from Vodis-branded cannabis products sold by OCI, at full operational capacity, would be as follows:
All amounts are shown $ USD

Plants harvested Pound of production Grams of dry cannabis Current market price per gram       Projected sales by
39,960 3,465 1,571,696 $            4.08 $ 6,400,000

At an exchange rate of 1.30 this would equate to a fee of $2,080,000 CAD to Vodis.
Costs to be incurred in relation to the fulfillment of the branding contract including development of marketing programs, trademark, licensing and initial marketing are estimated to be as follows:

Upfront                   Q1                   Q2                    Q3                  Q4            Annual Total
$75,000                   $22,500          $47,500           $51,000         $56,000       $     252,000

There can be no assurances that these targets can be met.
Vodis and its subsidiaries cannot have any interest whatsoever in any proceeds as a result of production, processing or retail activities in the United States, it can license its brand and production consulting services to approved Washington State license holders to ensure that all products produced under the Vodis name and/or associated with the “VIP” brand meet or exceed the Vodis brand quality standards.

Click here to learn more about Vodis Pharmaceuticals Inc. (CSE: VP / FSE: 1JV).

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“We would like to thank MNP for their guidance and expertise over the past two years and we look forward to working with Marcum as the Company’s new independent registered public accounting firm,” stated Chief Financial Officer, Alex D’Amico.

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