Cardax, Inc. (CDXI: OTCQB) | Cardax Reports Q2 2017 Results

Cardax Reports Q2 2017 Results

Aug 11, 2017

OTC Disclosure News Service

Cardax, Inc. (OTCQB:CDXI) reported June 30, 2017 results today.

Cardax announced today that its revenues from ZanthoSyn™ were more than
$170,000 during the first half of 2017. Revenues in the second quarter
do not reflect the purchase order received this month from General
Nutrition Corporation (“GNC”) to stock ZanthoSyn™, Cardax’s safe,
physician friendly astaxanthin dietary supplement for inflammatory
health and longevity, in all of the more than 3,200 GNC corporate stores
nationwide. As a result, third quarter revenues are expected to be
significantly higher than the second quarter and prior periods.

Cardax noted that its revenues for the second quarter of 2017 were
approximately $66,000, which reflected a decrease from the first to
second quarter primarily related to the initial stocking of ZanthoSyn™
in Hawaii GNC stores in Q1 that continued to support sales at GNC stores
in Q2. The Company’s Q2 loss decreased moderately versus Q1 and, as
expected, increased modestly from a year ago primarily due to ZanthoSyn
sales and marketing activity.

“We are pleased to see GNC same store sales of ZanthoSyn accelerate in
the second quarter,” said Cardax CEO, David G. Watumull. “Physician
recommendations and our outreach to GNC store personnel played a key
role in this increase and position us well for continued growth.”

Please refer to the Form 10-Q filed by the Company today for additional
information.

About Cardax

Cardax devotes substantially all of its efforts to developing and
commercializing safe anti-inflammatory dietary supplements and drugs.
Cardax is initially focusing on astaxanthin, which is a powerful and
safe naturally occurring anti-inflammatory without the side effects of
currently marketed anti-inflammatories. The safety and efficacy of
Cardax’s products have not been directly evaluated in clinical trials or
confirmed by the FDA.

About ZanthoSyn

ZanthoSyn™ is a physician recommended anti-inflammatory supplement for
health and longevity that features astaxanthin with optimal absorption
and purity. ZanthoSyn is sold online and in GNC stores. ZanthoSyn
contains astaxanthin, which is Generally Recognized as Safe (GRAS)
according to FDA regulations.

About Astaxanthin

Astaxanthin is a clinically studied compound with safe anti-inflammatory
activity that supports joint health, cardiovascular health, metabolic
health, liver health, and longevity.*

Safe Harbor

This release may contain certain forward-looking statements regarding
our prospective performance and strategies within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. We intend such
forward-looking statements to be covered by the safe harbor provisions
for forward-looking statements contained in the Private Securities
Litigation Reform Act of 1995, and are including this statement for
purposes of said safe harbor provisions. Forward-looking statements,
which are based on certain assumptions and describe future plans,
strategies, and expectations of our company, are generally identified by
use of words “anticipate,” “believe,” “estimate,” “expect,” “intend,”
“plan,” “project,” “seek,” “strive,” “try,” or future or conditional
verbs such as “could,” “may,” “should,” “will,” “would,” or similar
expressions. Our ability to predict results or the actual effects of our
plans or strategies is inherently uncertain. Accordingly, actual results
may differ materially from anticipated results. Some of the factors that
could cause our actual results to differ from our expectations or
beliefs include, without limitation, the risks discussed from time to
time in our filings with the Securities and Exchange Commission. Readers
are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this release. Except as
required by applicable law or regulation, we undertake no obligation to
update these forward-looking statements to reflect events or
circumstances that occur after the date on which such statements were
made.

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Article source: http://www.otcmarkets.com/stock/CDXI/news?id=167052

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