Business
Leone Asset Issues Corporate Update
Leone Asset Issues Corporate Update.
About this update from Leone Asset Management, Inc.
[{"type":"text","content":"ST. PETERSBURG, FL / ACCESSWIRE / November 1, 2017 / Today, Leone Asset Management (OTC PINK: LEON) issues a Corporate Update:I am very proud to announce that Cholesterade® has won a Finalist Award for new and innovative products in the Heart Healthy category in Supply Side West Editors Choice Awards. Cholesterade® was one of five finalists out of over 400 nominees. Needless to say, we are very excited and pleased to get this attention in such a short period of time and look forward to receiving many more awards in the future. To continue, we had a very successful launch of Cholesterade® in the first quarter of 2017. The second quarter was mainly about adding additional independent locations around the country and to start introducing Cholesterade® to the small- and medium-sized chains. During the third quarter we continued with adding additional independent locations, and a few small chains such as Kinney Drugs (110 locations), we increased our online digital footprint and have set several large chain meetings. At the same time, our Medical Advisory board has continued conducting our multi-center clinical study that has been showing incredible results with the participants.For those who are unfamiliar with the space we are operating in, it is important to know that within the sales process to retail, there are several steps involved and generally the process will take 1-6 months before we actually are on their shelves. It's safe to say, the larger the chain the longer the process. We have met with and continue to set meetings with both regional and national chains and anticipate a favorable response to place Cholesterade® on their shelves during 2018. Once we are given acceptance, we will probably be given a 3-6 month timeframe in which the company stocks new product inventory for our category. Once again and just so everyone is clear, each chain places new products on their shelves at different times of the year depending on the actual category the product is in. This is a positive for us because it gives us the proper lead-time to build up inventories and plan an effective advertising and marketing campaign.Even though we are still in our infancy with the National launch of Cholesterade®, we are pleased with our current growth rate. The second quarter experienced a 96 percent increase in sales ov...