MIAMI LAKES, FL -- (Marketwired) -- 02/27/14 -- Fu
Post# of 98041
Posted On: 02/27/2014 12:55:46 PM
MIAMI LAKES, FL -- (Marketwired) -- 02/27/14 -- Fuse Science, Inc. (OTCQB: DROP) (www.fusescience.com), a consumer products and delivery technology company that is developing new, patent-pending technologies working to redefine how consumers receive energy, medicines, vitamins and minerals announced yesterday their financial results for its fiscal 2014 first quarter ended December 31, 2013.
Key Financial Results for the First Quarter Ended December 31, 2013
The Company had gross sales of $513,993 and reported net revenue of $313,993 for the quarter ended December 31, 2013 an increase of 671% as compared to net revenue of $40,711 for the prior year quarter-end December 31, 2012.
Loss from operations decreased $579,708 to $1,617,006 for the quarter ended December 31, 2013 as compared to $2,196,714 for the quarter period ended December 31, 2012.
Excluding non-cash charges, loss from operations decreased $549,927 to $495,737 for the quarter ended December 31, 2013 as compared to $1,045,664 for the quarter ended December 31, 2012.
Brian Tuffin, CEO of Fuse Science, Inc. states, "We continue to focus on the execution of our business plan. The aggressive steps in expense control and targeted execution of our plan has begun to move results in the right direction. We maintain our focus on advancing a series of strategic licensing and commercialization opportunities that we anticipate will be completed shortly. We believe these initiatives will accelerate growth in shareholder value by strengthening both our consumer products business and technology licensing revenue.
Key Financial Results for the First Quarter Ended December 31, 2013
The Company had gross sales of $513,993 and reported net revenue of $313,993 for the quarter ended December 31, 2013 an increase of 671% as compared to net revenue of $40,711 for the prior year quarter-end December 31, 2012.
Loss from operations decreased $579,708 to $1,617,006 for the quarter ended December 31, 2013 as compared to $2,196,714 for the quarter period ended December 31, 2012.
Excluding non-cash charges, loss from operations decreased $549,927 to $495,737 for the quarter ended December 31, 2013 as compared to $1,045,664 for the quarter ended December 31, 2012.
Brian Tuffin, CEO of Fuse Science, Inc. states, "We continue to focus on the execution of our business plan. The aggressive steps in expense control and targeted execution of our plan has begun to move results in the right direction. We maintain our focus on advancing a series of strategic licensing and commercialization opportunities that we anticipate will be completed shortly. We believe these initiatives will accelerate growth in shareholder value by strengthening both our consumer products business and technology licensing revenue.
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