Upexi, Inc. (UPXI)
NASDAQ (CM) NASDAQ (CM) Primary Summary
Upexi Provides Shareholder Update on Restructuring to Reduce Debt and Increase Working Capital
TAMPA, FL / ACCESSWIRE / August 5, 2024 / Upexi, Inc. (NASDAQ:UPXI) (the "Company" or "Upexi"), a multi-faceted Amazon and Direct-to-Consumer ("DTC") brand owner and innovator in aggregation, today is providing shareholders with an update on its restructuring to reduce debt and increase working capital through the sale of assets. After the closing of several transactions since the nine month period ended, March 31, 2024, the Company has: $16.1 million eliminated in debt and accrued interest $7.4 million in cash to strengthen the balance sheet Approximately $1.5 million eliminated in excess operational costs, without affecting operations Allan Marshall, CEO of Upexi, commented, "The Upexi management team has completed four major steps in the restructuring process.
Upexi Provides Update on Filing Form 10Q for March 31, 2024
TAMPA, FL / ACCESSWIRE / June 21, 2024 / Upexi, Inc. (NASDAQ:UPXI) (the "Company" or "Upexi"), a multi-faceted Amazon and Direct-to-Consumer ("DTC") brand owner and innovator in aggregation, today is providing shareholders with a update on filing its financial statements for the three and nine months ended March 31, 2024. On June 17, 2024, the Company received a notice from Nasdaq Listing Qualifications that since the Company has not yet filed its Form 10-Q for the period ended March 31, 2024 (the "Filing"), it no longer complies with our Listing Rules (the "Rules") for continued listing.
Upexi Provides Shareholders with Update on Restructuring to Reduce Debt and Increase Working Capital through Sale of Assets
TAMPA, FL / ACCESSWIRE / June 20, 2024 / Upexi, Inc. (NASDAQ:UPXI) (the "Company" or "Upexi"), a multi-faceted Amazon and Direct-to-Consumer ("DTC") brand owner and innovator in aggregation, today is providing shareholders with a update on its restructuring to reduce debt and increase working capital through the sale of assets. As previously announced, the Upexi management team and the Board of Directors are exploring strategic alternatives for the Company to maximize current and future shareholder value.
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Upexi, Inc. Profile
| IT Services Industry | Information Technology Sector | Allan J. Marshall CEO | NASDAQ (CM) Exchange | 39959A205 CUSIP |
| US Country | 64 Employees | - Last Dividend | 3 Oct 2024 Last Split | 24 Jun 2021 IPO Date |
Overview
Upexi, Inc. is a diversely focused company engaged in the manufacture and sale of a wide range of branded products spanning various markets, including health, wellness, pet, beauty, and more. The corporation, previously known as Grove, Inc., underwent a name change to Upexi, Inc. in August 2022, marking a significant milestone in its evolution. Founded in the year 2018, Upexi has established its headquarters in Clearwater, Florida, from where it orchestrates its operations and strategizes its market endeavors. This location serves as the central hub for its multifaceted business activities. The renaming of the company from Grove, Inc. to Upexi, Inc. reflects its commitment to expanding its reach and diversifying its product offerings, aiming to cater to a broader spectrum of consumer needs and preferences.
Products and Services
Upexi, Inc. has carved out a niche for itself in the market by offering a wide array of products and services that cater to various consumer needs across different sectors. These include:
- Health Products: Upexi delivers a robust lineup of health-related products designed to enhance overall well-being. These products are formulated based on scientific research to ensure they meet the highest standards of efficacy and safety. Whether it's supplements, vitamins, or health aids, Upexi's health product range is geared towards improving the quality of life for its customers.
- Wellness Products: Understanding the growing consumer focus on holistic well-being, Upexi offers a comprehensive range of wellness products. These products are focused on promoting mental and physical balance, encompassing everything from stress relief aids to fitness and nutritional products. The goal is to support individuals in leading healthier, more balanced lives.
- Pet Products: Recognizing pets as essential members of many families, Upexi has developed a line of pet products that cater to the health, nutrition, and entertainment needs of pets. From nutritional supplements for optimum pet health to toys designed to keep them engaged and happy, Upexi's pet products are created with the well-being of pets in mind.
- Beauty Products: In the beauty segment, Upexi offers an array of products aimed at enhancing beauty and personal care. This range includes skincare, haircare, and makeup products that are crafted using quality ingredients to ensure they are effective and safe for use. The beauty product line is designed to meet the diverse beauty and grooming needs of consumers, emphasizing both aesthetics and skin health.
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