Easton Pharmaceuticals Inc (OTCMKTS:EAPH) shares rose 19.21% to $0.0391 and were flat in after-hours trading. The company has a market cap of $39.61 million at 932.73 million shares outstanding. Share prices have been trading in a 52-week range of $0.00 to $0.04.
Easton Pharmaceuticals Inc is a development-stage company engaged in various pharmaceutical sectors and others industries. It has a transdermal delivery technology, Viorra Delivery Matrix or VDM, which is incorporated in a line of therapeutic over-the-counter products.
Easton Pharmaceuticals Inc owns topically-delivered drugs and therapeutic or cosmetic healthcare products focused on cancer and other health problems geared towards female sexual dysfunction, wound healing, pain, motion sickness and other conditions.These products, which are in various stages of commercialization, include Nauseasol, which is a motion sickness gel; Skin Renou HA, which is an anti-aging wrinkle cream; Kenestrin Gel, which is a is a pain relief gel; Viorra, which serves as an aid to the relief of female sexual arousal disorder; XILIVE, which is an early-stage cancer drug, and FSAD drug, which includes a water-based complex polymer matrix.
In a press release on Monday, Easton Pharmaceuticals Inc shared that it has signed a letter of intent to acquire 100% of revenue producing vaporizer manufacturer iBliss Inc., of Toronto. iBliss Inc is a tremendously fast growing vaporizer and e-liquids manufacturing company with surging international sales projected to conservatively reach and surpass $15,000,000 per year fairly quickly. It is able to generate these sales with healthy margins in excess of 40% and has seen growth over the past three years.
iBliss has sales throughout North America and recently adding several international markets in Europe, the Middle East and Russia. It possesses in-house manufacturing of its own line of e-liquids products in a certified and regulated laboratory and plans on launching consumer health related products through its liquids for use in vaporizers, which will also result in substantial growth.
“We are very excited to be entering into this Agreement with Easton. With the support of Easton’s management, we will be able to continue our success and rapidly expand our sales internationally and launch our consumer health products through our e-liquids” stated iBliss President, Hung Tran.
Under the acquisition, iBliss operate as a wholly owned subsidiary of Easton Pharmaceuticals Inc and will be separate from other business segments such its women’s diagnostics, treatment and natural health products. Both companies foresee finalizing a closed Definitive Agreement in the coming weeks as the letter of intent marks the first step in their partnership.