GelStat Corporation Reports Third Quarter Results
Post# of 13
Posted On: 11/17/2014 9:28:44 AM
GelStat Corporation Reports Third Quarter Results and Releases a Shareholder Update
The Company Generated Record Revenue of $542,477 for the Third Quarter Ended September 30, 2014 up 8,700% Compared to the Third Quarter Ended September 30, 2013
PALM CITY, FL--(Marketwired - November 17, 2014) - GelStat Corporation (PINKSHEETS: GSAC) (News), a fully integrated consumer healthcare company engaged in the development, marketing, branding and manufacturing of innovative over-the-counter (OTC) consumer healthcare products, reports third quarter results and releases a shareholder update.
Highlights for the 3rd Quarter Ended September 30, 2014:
Completed the acquisition of Mastix Medica, LLC.
Generated revenue of $542,477
Generated gross profit of $212,427
Signed distribution agreements with Next Distributors, LLC.
GelStat Corporation generated consolidated revenue of $542,477 for the third quarter ended September 30, 2014 up 8,800% from $6,157 for the third quarter ended September 30, 2013. Gross profit was $212,427 for the third quarter ended September 30, 2014 up 4,500% from $4,569 for the third quarter ended September 30, 2013. Net Losses for the third quarter ended September 30, 2014 was $457,935 compared to a loss of $$28,115 for the third quarter ended September 30, 2013. Net losses for the period ended September 30, 2014 included over $400,000 in non-cash charges.
To view the comprehensive financial results for the period ended September 30, 2014 visit: http://www.otcmarkets.com/financialReportView...;id=129287
Outlook for the 4th Quarter of 2014
As previously announced, we recently increased our revenue forecast to over $750,000 for the fourth quarter ending December 31, 2014. The increased revenue expectations are driven by continued strength in operations from our recently acquired wholly owned subsidiary Mastix Medica and increasing sales of our proprietary healthcare products. We have also received positive feedback from early stage studies on new products that are infused with high CBDs in regards to their effects on pain and inflammation. We are in continued discussions with multiple parties to secure the supply chain, manufacturing and distribution of these new products which we anticipate to launch in 2015.
Larry Gershman, GelStat's CEO, said, "While the third quarter of 2014 was transformational for GelStat, we are very optimistic that we have only just begun. We now have the foundation in place as a vertically integrated healthcare products company and most importantly we are strategically positioned to benefit from the explosive growth in the high CBD healthcare products market."
Robert (Bob) Estey, GelStat's COO, said, "In the third quarter of 2014 GelStat's growth in revenue and gross profit was generated primarily by the strength in its wholly owned manufacturing subsidiary, Mastix Medica. This growth was driven by a combination of increasing orders from existing customers and orders from new customers. These trends remain intact and we expect considerable top line growth and positive cash flows from operations in 2015."
Make sure you are first to receive timely information on GelStat Corporation when it hits the newswire. Sign up for GelStat's email news alert system today at: http://ir.stockpr.com/gelstat2/email-alerts
The Company Generated Record Revenue of $542,477 for the Third Quarter Ended September 30, 2014 up 8,700% Compared to the Third Quarter Ended September 30, 2013
PALM CITY, FL--(Marketwired - November 17, 2014) - GelStat Corporation (PINKSHEETS: GSAC) (News), a fully integrated consumer healthcare company engaged in the development, marketing, branding and manufacturing of innovative over-the-counter (OTC) consumer healthcare products, reports third quarter results and releases a shareholder update.
Highlights for the 3rd Quarter Ended September 30, 2014:
Completed the acquisition of Mastix Medica, LLC.
Generated revenue of $542,477
Generated gross profit of $212,427
Signed distribution agreements with Next Distributors, LLC.
GelStat Corporation generated consolidated revenue of $542,477 for the third quarter ended September 30, 2014 up 8,800% from $6,157 for the third quarter ended September 30, 2013. Gross profit was $212,427 for the third quarter ended September 30, 2014 up 4,500% from $4,569 for the third quarter ended September 30, 2013. Net Losses for the third quarter ended September 30, 2014 was $457,935 compared to a loss of $$28,115 for the third quarter ended September 30, 2013. Net losses for the period ended September 30, 2014 included over $400,000 in non-cash charges.
To view the comprehensive financial results for the period ended September 30, 2014 visit: http://www.otcmarkets.com/financialReportView...;id=129287
Outlook for the 4th Quarter of 2014
As previously announced, we recently increased our revenue forecast to over $750,000 for the fourth quarter ending December 31, 2014. The increased revenue expectations are driven by continued strength in operations from our recently acquired wholly owned subsidiary Mastix Medica and increasing sales of our proprietary healthcare products. We have also received positive feedback from early stage studies on new products that are infused with high CBDs in regards to their effects on pain and inflammation. We are in continued discussions with multiple parties to secure the supply chain, manufacturing and distribution of these new products which we anticipate to launch in 2015.
Larry Gershman, GelStat's CEO, said, "While the third quarter of 2014 was transformational for GelStat, we are very optimistic that we have only just begun. We now have the foundation in place as a vertically integrated healthcare products company and most importantly we are strategically positioned to benefit from the explosive growth in the high CBD healthcare products market."
Robert (Bob) Estey, GelStat's COO, said, "In the third quarter of 2014 GelStat's growth in revenue and gross profit was generated primarily by the strength in its wholly owned manufacturing subsidiary, Mastix Medica. This growth was driven by a combination of increasing orders from existing customers and orders from new customers. These trends remain intact and we expect considerable top line growth and positive cash flows from operations in 2015."
Make sure you are first to receive timely information on GelStat Corporation when it hits the newswire. Sign up for GelStat's email news alert system today at: http://ir.stockpr.com/gelstat2/email-alerts
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