Wheat Ridge, COLORADO, Oct. 05, 2021 (GLOBE NEWSWIRE) -- GenTech Holdings, Inc. (OTC PINK: GTEH) (“GenTech” or the “Company”), (www.gentechholdings.com) an emerging leader in the Functional Foods (www.sinfit.com) and Nutritional Supplement (www.americanmetabolix.com) marketplaces, is pleased to provide current and prospective shareholders September performance update as the Company completes its first full month of consolidated financials from its recent acquisitions.
Provisional topline revenue numbers for September, 2021 shows Gross Consolidated Revenues currently at $217k from September’s operations, which represents an annual revenue run rate on pace to produce $2.6m. (Note: Data is unofficial and provisional and may be adjusted in future official financial reporting)
David Lovatt, CEO of GenTech Holdings commented that “we continue to see the hockey-stick curve we have been talking about month in month out. September was not just another record month in terms of topline revenues, but a breakout success as we see for the first time the effect of our recent acquisitions hit the P&L. We are not yet hitting our full potential as we see supply chain issues slowing down inventory supply for NxtBar (www.nxtbar.com) and NatureSoothie (www.naturesoothie.com) as well as Fizzique (www.drinkfizzique.com) not yet being available to retail. Our annualized revenue at this trajectory is estimated to be $2.6m, but if you add in a full inventory of NXtbar and Nature Soothie that rises to over $3.5m. With Fizzique, we are conservatively estimating that alone can bring in over $3.5m in topline revenues, taking us well over the $7m mark in 2022. If you factor in the growth curve, it could top $10m, which would be incredible from a standing start in mid-2020.”
Management believes both of its operating subsidiary’s performance is poised for continued growth as tailwinds from increased marketing spend and improved operating conditions become active factors in defining the Company’s operational landscape. This includes the impact of wide Covid-19 vaccinations and reduced pandemic impact in the operation of fitness and ‘brick and mortar’ facilities, which is believed to indirectly impact demand for the Company’s products. As world trade begins to operate with a new normal, key inventory items such as bottles, bottle lids and protein will begin to become more easily available, leading to increased revenues as inventory becomes more available through 2022.
Performance is also benefitting from successful event sponsorships and wider use of social media influence-based marketing, and the resulting growth in brand visibility. Gentech recently announced that the upcoming worldwide launch of the Company’s recently acquired brand, Storm Lifestyles (www.stormlifestyles.com) (“Storm”), a line of sports nutrition and fitness lifestyle products targeting the under-35 demographic, will be launched at The Olympia Fitness & Performance Weekend event (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 leading functional foods brand, SINFIT Nutrition, which offers a range of high-end Functional Foods as well as American Metabolix, Inc. which provides a diverse range of Nutritional Supplements through its brands American Metabolix, Storm Lifestyles and Core Natural Sciences.
This press release may contain forward-looking statements, including information about management's view of GenTech, Inc.'s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an 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 be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on GenTech's future results. The forward-looking statements included in this press release are made only as of the date hereof. GenTech cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, GenTech undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by GenTech.
EDM Media, LLC
© 2021 GlobeNewswire, Inc. All Rights Reserved.