Strainsforpains Inc. (OTC:EBYH) Stock On Radar After Latest News
The earnings season continued apace on Monday as a number of companies released their annual reports, and one of the companies to have done so was Strainsforpains Inc. (OTC:EBYH). The company was in the news cycle yesterday after it announced that it had generated sales of $84,000 in the fiscal year 2023, which worked out to a 1000% increase from the $7400 it had generated in the 2022 fiscal year.
Additionally, the company also revealed that it had generated an order of $130,000 for its CBD products in the first fiscal quarter of 2024. The president of the company, Mr. Shainberg, spoke about the performance as well. He noted that there was expectation that 2024 was going to be a pivotal year for Strainsforpains, and that would not only be restricted to considerable growth in revenues. In 2024, the company expects to enter into joint ventures for the development of new offerings, the finalization of renovations at the Pennsylvania plant for distribution and manufacturing of CBD offerings, licensing agreements, and the upgrade of the pain management app through the deployment of advanced artificial intelligence technology.
It was also revealed that Strainsforpains was also working with doctors and scientists who were experts in their respective fields with regards to subjects like the water solubility of CBD and the possibility of integrative anti-inflammatory additives in CBD offerings. In the news release yesterday, the company also stated that it had entered into a licensing deal with the United States-based biotech research firm GenBio. GenBio is involved in the development of a new generation of anti-inflammatory drugs. Strainsforpains is an innovative healthcare data technology firm that is based out of New York. Initially, the company had come up with a CBD product for alleviating muscle pain, but it has since started work on the development of other products.
