Vitality Reports Year End Results

About this update from Vitality Products Inc.

[{"type":"text","content":"\n\n\n\nVitality Reports Year End Results\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, May 31, 2019\n\n\n\nTrading Symbol:  VPI\n VANCOUVER, May 31, 2019 /CNW/ - Vitality Products Inc. (TSX-V: VPI) (the \"Company\" or \"Vitality\"), an award-winning line of vitamins and natural health supplements, is pleased to report its financial results for the fourth quarter and the fiscal year ending January 31, 2019.\n\n \n \n\n \nSales for the year was $528,041, 26% higher than sales of $417,438 during the same period in fiscal 2018. Sales for the fourth quarter increased 39% to $109,977 (2018 Q4 - $78,906) through new stores, reorders and online sales growth. The Company's highest sales month to date was January 2019 when the Company recorded $70,277 of sales.\nThe Company is in a strong position for growth in fiscal 2020 with $824,641 in total assets at January 31, 2019 from $478,232 at January 31, 2018. The overall increase in current assets during the past three years is due to the growth of the Company's sales, expanding distribution of Vitality products and financing activities through the issuance of share capital.\nDuring fiscal 2019 the Company achieved the following milestones: \nSuccessfully financed $500,000 for the growth of the business. The Company, in April 2019, received aggregate exercise proceeds of $103,350 due to the exercise of 689,000 share purchase warrants. The proceeds of the share purchase warrants exercised will be used for the Company's general corporate and working capital purposes.Invested in online marketing in Canada and achieved a 378% increase in online sales on Amazon.ca.Explored new markets for growth including the United States, Japan and China for its 92 licensed natural health and wellness products. Currently five licenses are in use in Canada.Fourth Quarter Results:\nDuring the fourth quarter of fiscal 2019, the Company's financial results show a net loss of $52,960 (2018 Q4 - $11,701).  Vitality sales increased 39% to $109,977 (2018 Q4 - $78,906). The cost of sales increased to $35,048 (2018 ...

More updates from Vitality Products Inc.