Business
GenTech Provides September Performance Update Highlighting Breakout Topline Growth
GenTech Provides September Performance Update Highlighting Breakout Topline Growth.
About this update from Gentech Holdings Inc.
[{"type":"text","content":"\n 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...