Furthermore, strategic acquisitions such as Cana will play a pivotal role, enabling us to vertically integrate and enter into contract manufacturing, as well as broaden our production capabilities to medicines. Our high-margin nutraceutical brands are also expected to contribute significantly to this growth. It's important to mention that our projections do not include the potential upside from any future R&D products or various tech projects, including ZipDoctor. We have taken a conservative approach to our estimates, aiming to be realistic and practical. As we progress, we will keep our shareholders updated on our developments and achievements.
Moreover, throughout this year, we have accomplished numerous important milestones, and I thought it would be helpful to recap all significant activities and events for our existing valued shareholders, as well as those considering joining us. I want to assure our shareholders that every action we take aligns with their best interests. While certain endeavors require time and patience, the rewards are undoubtedly worthwhile. If I had to pick one word to characterize 2023 so far, it would be 'execution'. Among others, we've closed three acquisitions, with more in the pipeline, completed the second phase of our innovative product for obesity and weight management, with clinical trials scheduled to commence in Q4 2023, and expanded our nutraceutical brands. Simultaneously, we have maintained a robust balance sheet with negligible debt and a strong, diversified asset base.
Building on this momentum, our strategic plan exhibits an ambitious and focused approach. We are striking a balance between growth and sustainability by concentrating on synergies, operational efficiencies, vertical integration, R&D, expansion of our brands, and growing our distribution network and facilities globally.'
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Forward-Looking Statements
With the exception of the historical information contained in this news release, the matters described herein, may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded by, followed by, or that otherwise, include the words 'believes,' 'expects,' 'anticipates,' 'intends,' 'projects,' 'estimates,' 'plans' and similar expressions or future or conditional verbs such as 'will,' 'should,' 'would,' 'may' and 'could', are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. These statements, involve unknown risks and uncertainties that may individually or materially impact the matters discussed, herein for a variety of reasons that are outside the control of the Company, including, but not limited to, the Company's ability to raise sufficient financing to implement its business plan, the impact of the COVID-19 pandemic and the war in
Additionally, the Company provides EBITDA guidance that may not include certain charges and costs, which in future periods are generally expected to be similar to the kinds of charges and costs excluded from EBITDA in prior periods, such as income taxes, interest and other non-operating items, depreciation and amortization, net unrealized gains and losses on derivatives, lower of cost or net realizable value adjustments, gains and losses on disposal or impairment of assets, gains and losses on early extinguishment of liabilities, equity-based compensation expense, acquisition expense, revaluation of liabilities and items that are extraordinary or non-recurring, foreign currency transactions, net and prior years bad debt allowance. The exclusion of these charges and costs in future periods may have a significant impact on the Company's EBITDA, and the Company may not be able to provide a reconciliation of its EBITDA guidance to net income (loss) without unreasonable efforts due to the uncertainty and variability of the nature and amount of these future charges and costs and the Company believes that such reconciliation, if possible, would imply a degree of precision that would be potentially confusing or misleading to investors.
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