CAVE CREEK, AZ , Aug. 06, 2024 (GLOBE NEWSWIRE) -- Endexx Corporation (OTCQB:EDXC), a leading provider of innovative plant-based wellness and nutritional products, today announced its financial results for the second quarter of 2024 and provided an update on strategic developments. Q2 2024 Financial Overview Revenue: $2,181,012 (a 33.42% decrease from Q1 2024) Gross Profit: $1,246,677 (a 34.16% decrease from Q1 2024) Net Loss: $905,615 (an improvement of 55.27% compared to Q1 2024) From the Desk of Brad Listermann, Interim CEO Dear Shareholders, As your Interim CEO, I am committed to transparency and proactive communication as we navigate this transitional phase. Our Q2 2024 filing reflects the challenges and opportunities we are currently facing. Below is a detailed overview of our Q2 performance, key developments, and strategic direction. Bright Spots in Q2 Improved Cash Management: Net Cash Used in Operating Activities: Improved by 53.44%, reflecting better cash flow management. Cash End of Period: Increased by 187.15%, enhancing our liquidity position. Reduction in Net Loss: The net loss has been reduced significantly, indicating better management of expenses and operational efficiencies. Increased Assets: Total assets have increased by 18.92%, demonstrating a more robust asset base to support future growth. Vaping Industry Growth and HYLA's Potential The vaping industry continues to evolve rapidly, driven by increasing consumer demand for healthier alternatives to traditional smoking. According to recent market research, the global vaping market is projected to grow at a compound annual growth rate (CAGR) of 23.8% from 2023 to 2030. This growth is fueled by innovation, regulatory changes, and shifting consumer preferences. HYLA's Positioning: First-Mover Advantage: HYLA's organic, plant-based, zero-nicotine vape products position us uniquely in the market. Our products are designed to meet the growing demand for healthier, non-tobacco alternatives. Strategic Partnerships: Under the leadership of Dustin ...