Business
GenTech Provides Year-to-Date Performance Update: 2021 Revenues on Pace for $1.3M, with 2022 Showing Potential for 800% Growth
GenTech Provides Year-to-Date Performance Update: 2021 Revenues on Pace for $1.3M, with 2022 Showing Potential for 800% Growth.
About this update from Gentech Holdings Inc.
[{"type":"text","content":"\n WHEAT RIDGE, CO, Oct. 25, 2021 (GLOBE NEWSWIRE) -- GenTech Holdings, Inc. (OTC Pink: GTEH) (“GenTech” or the “Company”, a/k/a Supplement Group (USA) Inc.) (www.gentechholdings.com), an emerging leader in the Functional Foods (www.sinfit.com) and Nutritional Supplement (www.americanmetabolix.com) marketplaces, is pleased to provide provisional year-to-date financial performance data along with objectives for the year ahead. Note: Figures presented below are unofficial and provisional, and may be adjusted in future financial disclosures. Provisional topline revenue numbers for the nine months to September 30 show Gross Consolidated Revenues from operations currently at $745,900. American Metabolix, Inc., a recent acquisition, accounted for $108,000 in its first full month of operations. When accounting for this additional revenue stream over the remaining months of 2021, management sees full-year revenues at approximately $1.3 million based on the current revenue run rate across all segments and subsidiaries. David Lovatt, CEO of GenTech Holdings, commented, “These figures show exceptional growth relative to 2020 performance data. At this time last year, we had consolidated year-to-date sales of $181,000. To close out at the $1.3 million mark a year later would represent very impressive growth. If we continue to extrapolate forward, with all of our acquisitions accounted for, one can make a conservative case for over $2.6 million in 2022. However, we anticipate a much more aggressive growth curve, based on recent performance, and we are now just beginning to drive our most promising brands into much larger market opportunities.” Lovatt further commented on ongoing supply chain issues as well as the Company’s new offering for 2022, “Fizzique” (www.drinkfizzique.com): “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 end market consumers. If you add in a full inventory for NxtBar and Nature Soothie, our 2022 revenue outlook jumps to over $3.5 million.” “Once Fizzique sales start to hit, we conservatively estimate it alone can bring in over $3.5 million in topline reve...