82,000 Square Foot, GMP Qualified Facility Now has 3 Distillation Systems in Operation.
Khrysos Industries, Inc. a wholly owned subsidiary of Youngevity International, Inc. (NASDAQ: YGYI), a multi-channel lifestyle company operating in three distinct business segments including a commercial coffee enterprise and its newly acquired commercial hemp enterprise announced today that its tolling operation operating within its 82,000 square foot facility in Orlando, Florida has filled 42% of its available capacity generating $1.2 million of revenue for February tolling production. Khrysos Industries tolling operation represents one revenue segment of YGYI’s hemp enterprise. The company began bringing online the state-of-the-art facility that features a 46,200 sq. ft. production area that includes 5,200 sq. ft. of class C7 sterile capable workspace and is powered via a redundant utility system for continuous operation. Khrysos also plans to bring online its finished goods production in February.
“We believe our tolling operation provides us the opportunity to accelerate revenue generation and profitability by servicing a current void present in the market.”, said Dwayne Dundore PhD, President of Khrysos. “Having 3 different distillation systems has Khrysos uniquely positioned to service companies of all sizes whether the need is larger scale crude oil distillation or smaller scale distillation.”
“Our current capacity for our tolling operations, at current prices, provides us the opportunity to generated monthly revenue of approximately $3 million per month. Currently, we are seeing strong demand for tolling of crude oil and we anticipate that this will continue throughout 2020. We remain committed to our hemp enterprise and its fully vertical capabilities in ingredient production, tolling, extraction and processing equipment sales, and finished goods and packaging.” said Dave Briskie, President and CFO of YGYI, about its wholly owned subsidiary Khrysos Industries.
About Khrysos Industries, Inc.
Khrysos Industries is a leading manufacturer of commercial hemp-based CBD extraction, post processing equipment, and end-to-end processor of CBD isolate, distillate, water soluble Isolate, and water-soluble distillate. Its subsidiary, INX Laboratories provides a broad range of testing services including potency analysis for its supply partners of hemp derived CBD products. Khrysos provides hemp growers, feedstock suppliers, and CBD crude oil producers the use of equipment, intellectual capital, production consultancy, tolling services, and wholesale CBD channel sales capabilities. Khrysos Industries was acquired by Youngevity International (NASDAQ: YGYI) on February 12th, 2019. Be sure to visit us at khrysosglobal.com, like us on Facebook and follow us on Twitter, or contact us at .
About Youngevity International, Inc.
YGYI, Inc. (NASDAQ: YGYI), is a leading omni-direct lifestyle company offering a hybrid of the direct selling business model, that also offers e-commerce and the power of social selling. Assembling a virtual Main Street of products and services under one corporate entity YGYI offers products from the eight top-selling retail categories: health/nutrition, home/family, food/beverage (including coffee), spa/beauty, fashion, essential oils, photo, as well as innovative services. The Company was formed in the course of the summer 2011 merger of Youngevity Essential Life Sciences with Javalution® Coffee Company (now part of the company’s food and beverage division). The resulting company became Youngevity International, Inc. in July 2013. For investor information, please visit YGYI.com. Be sure to like us on Facebook and follow us on Twitter.
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Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases forward-looking statements can be identified by terminology such as “may,” “should,” “potential,” “continue,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” and similar expressions, and includes statements regarding plans to bring online finished goods production in February, the opportunity to accelerate revenue generation and profitability by servicing a current void present in the market, the opportunity to generate monthly revenue of approximately $3 million per month, strong demand for tolling of crude oil continuing throughout 2020.. These forward-looking statements are based on management’s expectations and assumptions as of the date of this press release and are subject to a number of risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, our ability to bring online finished goods production in February, our ability to accelerate revenue generation and profitability by servicing a current void present in the market, our ability to generate monthly revenue of approximately $3 million per month, our ability to generate strong demand for tolling of crude oil throughout 2020,, our ability to continue our international growth, our ability to continue our hemp segment and coffee segment growth, our ability to leverage our platform and global infrastructure to drive organic growth, our ability to improve our profitability, expand our liquidity, and strengthen our balance sheet, our ability to continue to maintain compliance with the NASDAQ requirements, the acceptance of the omni-direct approach by our customers, our ability to expand our distribution, our ability to add additional products (whether developed internally or through acquisitions), our ability to continue our financial performance and the other factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2018 and our subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.
Youngevity International, Inc.
President and Chief Financial Officer