Ft. Worth, Texas, Feb. 14, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- AppYea, Inc. (OTCPK:APYP, or the "Company") is pleased to announce that is has entered into an exclusive CBD infused beverage licensing agreement with Prouty Company, Inc. (“ProutyCo”). The CBD infused beverage product line in development is based on four categories which are energy, focus, calm, and sleep. These are known as functional beverages and are a brand-new class of product.
CBD-infused beverages are expected to become a $260 million market by 2022. The global carbonated soft drinks market is projected to reach $605.6 Billion by 2025, according to a March 2018 report by Grand View Research, Inc. The global soft drink market, in another study, is forecast to grow at a CAGR of 5.62% through to 2021. CBD-based beverages are garnering all of the attention due to the recent headlines of Coca-Cola potentially getting involved in the space, but the reality is there are a number of CBD-based products that are already generating consistent and strong revenues on a daily basis. The CBD product market is already a $1 billion market and has staying power and is not anticipated to experience slowed growth at any point in the near future.
“We are very excited about our relationship with AppYea and look forward to providing a broad range of products and services to drive revenues across multiple channels and demographics,” said Phil Prouty, President and CEO of ProutyCo.
“We are excited about the revenue potential for this new line of CBD infused beverages and working with ProutyCo. These and other CBD based products will be sold and marketed under a new brand to be announced in the near future,” says Doug McKinnon, CEO of AppYea.
About Prouty Company, Inc.
Prouty Company Inc. is a global provider of products and services in the Telecommunications, Financial, Medical, Energy, Entertainment and Sports industries, and has holdings and expertise in a broad range of fields. With an emphasis on new technology development and product distribution, ProutyCo has holdings generating billions of dollars in sales annually and is growing at an exponential rate due to its continued innovation and diversity in leading-edge markets. (www.proutyco.com)
About AppYea, Inc.
AppYea Inc., founded in 2012, is engaged in mobile applications for iOS, Google Play, and Amazon platforms and marketing certain products and services to healthcare providers and recently CBD based products. Through its wholly owned subsidiary, The Diagnostic Centers, Inc., AppYea markets comprehensive diagnostic testing services to physician offices, clinics, hospitals, long term care facilities, healthcare groups, and other healthcare providers. The Company is headquartered in Ft Worth, Texas and trades under the symbol APYP. For more information about AppYea, visit website: www.appyea.com
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. Additional information respecting the factors that could materially affect the Company and its operations are contained in its annual report on Form 10K and Form 10-Q as filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statement.