Key Points from PR dated September 17, 2020: Hi
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Posted On: 09/17/2020 4:57:42 PM
Key Points from PR dated September 17, 2020:
Highlights Include:
- $300K+ in Purchase Orders for 3 months ended July 31, 2020.
- $151,630 booked as Gross Sales.
- $446,959 Total Assets as of July 31, 2020 vs $48,351 as of April 30, 2020.
- Total Assets up 824% increase on a sequential quarterly basis & up 2,200% annually.
- Cash up 2,580% on a sequential quarterly basis & up over 6,700% annually.
- Inventory valued at $62,500 of July 31,2020.
- Accounts receivable valued at $86,293 of July 31, 2020.
-Turning point for GenTech - in terms of the establishment of robust and accelerating growth - came with acquisition of Sinister Labs, LLC, and the Sinfit Nutrition brand in June.
- "This is a strong and growing brand with a massive domestic and international distribution footprint in the booming functional foods market space."
- "Our July quarter set multiple Company records."
- "Our October quarter is on pace to handily set new ones."
- 43% increase in total outstanding GenTech common shares during the three months ended July 31, 2020 represents the overall equity cost of the Sinfit acquisition.
- This increase in total outstanding shares is already being balanced by sharp growth in cash, assets, sales, and the overall business backed by that equity.
- Total liabilities held steady from April to July while total assets grew by over 800%.
- The company anticipates this growth to continue and likely accelerate over the coming 12 months.
- The company continues to project a potential for over $3 million in sales in 2021 - an extrapolation from the current performance and recent growth trend.
Highlights Include:
- $300K+ in Purchase Orders for 3 months ended July 31, 2020.
- $151,630 booked as Gross Sales.
- $446,959 Total Assets as of July 31, 2020 vs $48,351 as of April 30, 2020.
- Total Assets up 824% increase on a sequential quarterly basis & up 2,200% annually.
- Cash up 2,580% on a sequential quarterly basis & up over 6,700% annually.
- Inventory valued at $62,500 of July 31,2020.
- Accounts receivable valued at $86,293 of July 31, 2020.
-Turning point for GenTech - in terms of the establishment of robust and accelerating growth - came with acquisition of Sinister Labs, LLC, and the Sinfit Nutrition brand in June.
- "This is a strong and growing brand with a massive domestic and international distribution footprint in the booming functional foods market space."
- "Our July quarter set multiple Company records."
- "Our October quarter is on pace to handily set new ones."
- 43% increase in total outstanding GenTech common shares during the three months ended July 31, 2020 represents the overall equity cost of the Sinfit acquisition.
- This increase in total outstanding shares is already being balanced by sharp growth in cash, assets, sales, and the overall business backed by that equity.
- Total liabilities held steady from April to July while total assets grew by over 800%.
- The company anticipates this growth to continue and likely accelerate over the coming 12 months.
- The company continues to project a potential for over $3 million in sales in 2021 - an extrapolation from the current performance and recent growth trend.
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