CS MEDICA, a MedTech innovator in cannabinoid-infused treatments, announces a calculated delay in the conversion of its budget year. Originally, the fiscal year was scheduled to convert from 1st October to 31st December 2023, aligning with the calendar year. However, after a cost/benefit evaluation, the company has decided to postpone its transition to occur from 1st October to 31st December 2024. 

This strategic decision underscores CS MEDICA's commitment to reverse its financial situation and ensure operational optimization. By postponing the fiscal year conversion, the company can allocate resources more effectively, enhancing the ability to meet financial goals as the daily operation will not be impacted, and ensuring a seamless transition end of 2024.  

Lone Henriksen, CEO of CS MEDICA, emphasizes: "Postponing our fiscal year conversion reinforces our financial priorities, allowing us to strengthen processes and enhance operational efficiency. As a scaleup MedTech company, we've made substantial investments in R&D, clinical evidence, patents, and regulatory compliance. While optimizing operations and wishing to convert to a calendar year, our immediate focus is ensuring financial stability and growing sales in key markets, notably Germany, the largest EU market for our CBD-infused treatments for pain management, autoimmune and stress-related disorders. In addition, we prioritize awareness by activating our share on the German stock markets to strengthen our local presence. This commitment amplifies value delivery to our stakeholders."

The upcoming quarterly report, covering Q2 2024 (January - March), will be released as scheduled in May, adjusting from Q1 2024 in the calendar year.