Edison Nation, Inc. Reports Financial Results for the Twelve Months Ended December 31, 2019 and Preliminary Results for the Three Months Ended March 31, 2020
EDISON NATION (EDNT)
Company Research
Source: GlobeNewswire
2019 Revenues Up 19% Year-over-Year to $19.6 million Reaffirms 2020 Revenue Guidance of $34 million. Bethlehem, PA, June 01, 2020 (GLOBE NEWSWIRE) -- Edison Nation, Inc. (NASDAQ:EDNT), an inventor ecosystem driving IP, media and innovative consumer products, today announced results for the twelve months ended December 31, 2019 and preliminary unaudited results for the three months ended March 31, 2020. Company Highlights Reaffirms 2020 revenue guidance of $34 million.The Company eliminated $1.1 million of convertible debt in October 2019 through the issuance of 560,185 shares of common stock.The Company raised $2.0 million of equity through the sale of restricted common stock in a PIPE transaction in the 4th Quarter of 2019.Further balance sheet improvement with the removal of $5.3 million of liabilities related to the previously foreclosed entity, Cloud B, Inc., which was sold in the first quarter of 2020.The Company relaunched its Edison Nation Medical Division (“EN M
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