CHICAGO, May 30, 2018 (GLOBE NEWSWIRE) -- Cosmos Holdings, Inc. ("the Company") (OTCQB:COSM), an international pharmaceutical company, announced financial results for the quarter ended March 31, 2018.
Highlights:
- Quarter ended March 31, 2018, versus the quarter ended March 31, 2017, revenue improved 191% to $11.9 million from $4.1 million.
- Gross profit increased 67.7% to $609,996 in the first quarter of 2017 from $363,692 in the first quarter of 2016.
- Debt refinancing in the amount of $3,199,728 from interest rate of ten (10%) percent per annum was adjusted to four (4%) percent plus quarterly Libor payments. The final repayment date was extended from August 31, 2018 to December 31, 2021.
- Cosmos continued to expand its sales network. Its current network consists of over 160 customers and vendors in 16 different countries.
About Cosmos Holdings, Inc.
Cosmos Holdings Inc. is a pharmaceutical company focused on identifying, acquiring, developing, and commercializing medicines to improve patients' lives and outcomes. Cosmos Holdings has offices and distribution centers in Thessaloniki, Greece & In Harlow, UK. More information is available at www.cosmosholdingsinc.com.
Cosmos Holdings, Inc. takes no responsibility for updating the information contained in this press release following the date hereof to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events or for any changes or modifications made to this press release or the information contained herein by any third-parties, including, but not limited to, any wire or internet services.
FORWARD LOOKING STATEMENTS
Except for historical information, this news release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve unknown risks, and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. Important factors that might cause such differences are discussed in the Company's filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results could differ materially from those anticipated in these forward-looking statements, if new information becomes available in the future.
FOR FURTHER INFORMATION, CONTACT: Steve Carr 312.780.7211 scarr@dresnerco.com
