DALLAS, December 19, 2018 /PRNewswire/ --
Kali, Inc. (Kali, Inc. dba/Kali-Extracts, Inc.) (USOTC: KALY) ("KALY") today announced Frederick Ferri as the company's new CEO. Mr. Ferri is the inventor of a patented cannabis extraction process. On November 15th, 2018, KALY acquired Mr. Ferri's company NCM Biotech to include the patented cannabis extraction process he invented. The acquisition includes the extensive preclinical trial research conducted with cannabis extracts from the patented cannabis extraction process. The NCM Biotech Medical Advisory Team includes John N. Gaitanis, MD., Director of Child Neurology at Tufts Medical Center/Floating Hospital for Children; Lloyd R. Saberski, M.D., Associate Professor of Anesthesiology and Chronic Pain Management, Yale University, and John McMichael, Ph.D., President & CEO Beech Tree Labs.
"My first act as the new CEO of Kali-Extracts is to announce the new Kali Cannabis Therapies subsidiary," said Mr. Ferri. "I am enthusiastic about the nutritional and wellness products such as Hemp4mula and EVERx that are already generating revenue for Kali-Extracts either through internal product sales or through the licensing of our technology. The extraordinary and yet unrealized value of Kali-Extracts is in the cannabis biotechnology intellectual properties that came with the NCM Biotech acquisition. Kali-extracts now has years of research and studies surrounding a multitude of applications of our proprietary cannabis extracts. In a separate release later today, the company will publish a formal announcement of the Kali Cannabis Therapies subsidiary to include specific information on preclinical research studies on one particular application of our proprietary cannabis extracts."
Charles Yawn, the Chairman of Kali-Extracts and outgoing CEO said, "Mr. Ferri is a brilliant inventor and pioneer in the exploding field of cannabis extracts. Mr. Ferri invented his patented cannabis extraction process for the very purpose of producing cannabis biotechnology alternatives to chemical pharmaceuticals. Kali-Extracts is privileged to have access to arguably the highest quality cannabis extracts in the market for its over-the-counter wellness and nutritional products. The revenue from the over-the-counter sales will set Kali-Extracts apart from its cannabis biotech competitors. Not only do we believe that Kali-Extracts cannabis extracts are superior to those of our biotech competition, but we have a business model that generates revenue now, while most of our competitors have years of research ahead of them to be funded soley by investment dollars before any revenue might be generated through the sale of cannabis pharmaceutical therapies."
To learn more about Kali-Extracts, Inc., visit http://www.kali-extracts.com
This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur. These statements have not been evaluated by the Food and Drug Administration. These products are not intended to diagnose, treat, cure, or prevent any disease.
SOURCE Kali, Inc.