Wheat Ridge, COLORADO, October 05, 2021 (GLOBE NEWSWIRE) – GenTech Holdings, Inc. (OTC PINK: GTEH) (“GenTech” or the “Company”), (www.gentechholdings.com) an emerging leader in functional foods (www.sinfit.com) and Nutritional Supplement (www.americanmetabolix.com), is pleased to provide current and potential shareholders with a performance update for September as the Company completes its first full month of consolidated financial data from its recent acquisitions.
Preliminary principal revenue figures for September 2021 show gross consolidated revenue currently of $ 217,000 from September operations, which represents an annual revenue rate going to produce $ 2.6 million. (Note: Data is unofficial and provisional and may be adjusted in future official financial reports)
David Lovatt, CEO of GenTech Holdings, said, “We continue to see the hockey stick curve that we have been talking about month after month. September was not only another record month in terms of revenue, but a resounding success as we see for the first time the effect of our recent acquisitions on the income statement. We are not yet reaching our full potential as we see supply chain issues slowing the supply of inventory for NxtBar (www.nxtbar.com) and NatureSoothie (www.naturesoothie.com) as well as Fizzique (www.drinkfizzique.com) not yet available at retail. Our annualized revenue on this trajectory is estimated at $ 2.6 million, but if you add a full inventory of NXtbar and Nature Soothie, that rises to over $ 3.5 million. With Fizzique, we cautiously estimate that this alone can generate over $ 3.5 million in revenue, which will take us well beyond the $ 7 million mark in 2022. If you factor in of the growth curve, it could exceed $ 10 million, which would be incredible from a standing start in mid-2020.
Management believes that both performances of its operating subsidiary are ripe for continued growth as the favorable winds of increased marketing spending and improved operating conditions become active factors in defining the business. operational landscape of the Company. This includes the impact of large-scale vaccinations against Covid-19 and the reduction of the pandemic impact on the operation of fitness and “brick and mortar” facilities, which would have an indirect impact on the demand for health products. the society. As global commerce begins to operate with a new normal, key inventory items such as bottles, bottle lids, and protein will start to become more readily available, leading to increased revenue as inventory grows. no longer available until 2022.
The performance also benefits from successful event sponsorships and wider use of social media influence-based marketing, as well as the resulting growth in brand visibility. Gentech recently announced that the next global launch of the Company’s recently acquired brand, Storm Lifestyles (www.stormlifestyles.com) (“Storm”), a line of sports nutrition and fitness lifestyle products targeting those under 35, will be launched at Olympia Fitness & Performance Weekend (https://mrolympia.com) to be held October 7-10, 2021 in Orlando, Florida.
About GenTech Holdings, Inc.
GenTech Holdings, Inc. is a publicly traded company under the symbol GTEH. The Company owns and operates the leading brand of functional foods, SINFIT Nutrition, which offers a line of premium functional foods, as well as American Metabolix, Inc., which offers a diverse line of nutritional supplements through its American Metabolix brands. , Storm Lifestyles and Core Natural. Sciences.
This press release may contain forward-looking statements, including information about the views of management on the future expectations, plans and prospects of GenTech, Inc. In particular, when used in the foregoing discussion, the words “believes”, “expects”, “intend”, “plans”, “anticipates” or “may” and similar conditional expressions are intended to identify forward-looking statements. All statements made in this press release other than statements of historical fact, about any action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of GenTech, its subsidiaries and concepts to differ materially from those expressed or implied in these statements. Unknown or unforeseeable factors could also have a material adverse effect on the future results of GenTech. The forward-looking statements included in this press release are made only as of the date hereof. GenTech cannot guarantee future results, activity levels, performance or achievements. Therefore, you should not place undue reliance on these forward-looking statements. Finally, GenTech assumes no obligation to update these statements after the date of this publication, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not not paid by GenTech.
EDM Media, LLC