Business
U.S. Stem Cell Reports 3rd Q: Increases Revenue, Reduces Debt
U.S. Stem Cell Reports 3rd Q: Increases Revenue, Reduces Debt.
About this update from U.s. Stem Cell, Inc.
[{"type":"text","content":"SUNRISE, FL / ACCESSWIRE / November 7, 2017 / U.S. Stem Cell, Inc. (OTCQB: USRM), international leader in the development of proprietary, physician-based stem cell therapies and novel regenerative medicine, today announced financial results for the three months ended Sept. 30, 2017.Revenue increased significantly for the quarter, up 106 percent or $730k from the same quarter last year to $1.5m. Likewise, for the nine months ended Sept. 30, 2017, revenue also increased 92 percent from $2.1 to $4.04m for the same period last year.Net increase in gross profits also increased to $1m, a 158 percent increase from the same quarter last year. Net increase in gross profit also increased 102 percent or $1.4m for the same period in 2016, to $2.8m for 2017.Cash from operations also increased for the nine months ended, up more than 1004% from negative $113k in 2016 to more than $1m in 2017. Cash from operations was also up for the three months ended 2017, an increase of more than 368% in 2017, totaling $240k, compared to $52k for the same three months in 2016.\"Our operations are continuing to yield successful results for six straight quarters now, including last quarter which was record-breaking, and we are still just getting started,\" said Mike Tomas, Chief Executive Officer of U.S. Stem Cell, Inc. \"The increase in operational success - which includes certifying 700 physicians and 287 clinics in the use of our proprietary stem cell technology - is being bolstered by more than 30 states that are passing laws to allow regenerative, cutting-edge procedures like ours. It's an exciting time to be in the marketplace, and we are looking forward to our continued growth.\"On Sept. 1, 2017, the State of Texas joined more than 30 other states by passing HR 810 - a \"right to try\" law allowing Texans to choose medical procedures like stem cell treatments for certain severe chronic diseases and terminal illnesses that have historically been considered more \"experimental.\" This legislation paves the way for patients living on borrowed time, that are severely debilitated, or in extreme pain due to an ailment. As more states join the ranks in approving right-to-try laws, USRM will continue to leverage these legislated opportunities.\"Seeing expansion of our proprietary, stem cell therapy process - which empowers a patient to utilize their own, natura...