Business
Natural Health Farm Holdings, Inc. Reports 140% Increase in Revenues and 309% Increase in Assets in First Quarter 2019
Natural Health Farm Holdings, Inc. Reports 140% Increase in Revenues and 309% Increase in Assets in First Quarter 2019.
About this update from Natural Health Farm Holdings Inc
[{"type":"text","content":"\nVegas, Nevada, May 20, 2019 (GLOBE NEWSWIRE) -- Natural Health Farm Holdings, Inc (OTCQB: NHEL) (the “Company” or “NHF Holdings”), a nutraceutical biotechnology company, is pleased to announce that the Company has reported its operating results for the three months ended March 31, 2019, through the filing of its Quarterly Report on Form 10-Q with the Securities and Exchange Commission.\n Selected NHEL Financial Highlights - 1st Quarter Ended March 31, 2019 •             Total Revenues (3-Months): Up 140.2% to $524,860 compared to $218,524 in 2018 •             Total Revenues (6-Months): Up 266.0% to $807,041 compared to $220,523 in 2018 •             Gross Profit (3-Months): Up 213.7% to $307,495, compared to $98,030 in 2018 •             Gross Profit (6-Months): Up 369.8% to $467,099, compared to $99,423 in 2018 •             Total Assets: Up 309.0% to $4,219,172, compared to $1,031,590 at March 31, 2018 •             Cash or Equivalents: Up 185.4% to $1,255,178 compared to $439,846 at March 31, 2018 Vernon Tee, CEO of NHF Holdings, commented, “Over this past year, we have worked tirelessly to acquire and bring together several companies with the goal of building NHEL into a complete vertically integrated nutraceutical powerhouse. During the first quarter of 2019 following the audit and financial consolidation of the Prema Life deal, these strategic acquisitions have now begun to positively impact our financial statements with record revenues, gross profits, and assets.” “In addition to the organic and synergistic growth that’s anticipated from NHEL companies in the rapidly expanding nutraceutical marketplace, we expect that our balance sheet will further strengthen as we advance, close, and financially consolidate the other significant acquisitions that we have made over the past few months.” Mr. Tee concluded, “Going-forward, we feel that the Company is in a strong position to...