NutraFuels, Inc. (NTFU) Provides 2nd Quarter Financials and Shareholder Update
COCONUT CREEK, FL --(Marketwired - September 08, 2016) - NutraFuels Inc. ("NutraFuels" or "NTFU") (OTC PINK: NTFU) posts Second Quarter Results of $136,000.00 in Revenue and reports Sequential Growth in Monthly Sales.
NutraFuels, Inc. (OTC PINK: NTFU) today announced financial results for its fiscal 2016 second quarter ended June 30, 2016. The company posted quarterly revenue of $136,000.00, up 82% year-over-year. Quarterly GAAP net loss was $35,000.00, or ($0.00) per diluted share with quarterly GAAP Gross Margin of $74,000.00 up 274% year-over-year. Monthly sales were $45,000 for the quarter, up 82% year-over-year and compared to $25,000.00 in the previous quarter.
Over the past several months, the Company has completed a series of production runs for both its in house brands and private label business. NutraFuels is now in the process of launching multiple digital and direct to consumer campaigns to increase brand awareness and sales. The Company has listed its flagship "NutraSpray" products for sale on Amazon.com and has initiated the build out of a Mobile marketing and advertising program with a Toronto-based agency. NutraFuels is growing its Instagram and other social media followings, both in support of its online sales strategy.
"We've made a lot of progress on our priorities this quarter," said Edgar Ward, NutraFuels' CEO. "We are confident in our product roadmap, and we are seeing the direct benefit from the launch of our in house brands along with increased production from our private label business. We remain focused on producing and distributing high quality daily health and wellness products to help improve the quality of life through naturally derived efficient and effective supplementation."
About NutraFuels, Inc.
NTFU was founded in 2010, to manufacture, distribute and market a line of oral spray nutritional dietary products to consumers, retailers and wholesale outlets. Oral spray delivery systems are recognized by many as an effective methodology for delivery of pharmaceutical and nutraceutical products. Oral spray delivery is recognized by consumers for its convenience, dosage precision and timely assimilation into the body. NTFU's product line consists of vitamins and nutrients in an aqueous solution, orally delivered through a non-aerosol pump. NTFU's products are sprayed into the mouth in the form of a fine mist entering the delicate tissue of the mouth. The nutrients are delivered into the bloodstream and assimilated throughout the body more quickly than traditional methods, avoiding the solubility and absorption problems common with most ingested vitamins and nutritional supplements in pill or capsule form. For more information about NutraFuels' products, please visit: www.ShopNutraSpray.com
This press release contains forward-looking statements, particularly as related to, among other things, the business plans of NutraFuels, statements relating to goals, plans and projections regarding the NutraFuels' financial position and business strategy. The words or phrases "would be," "will allow," "intends to," "may result," "are expected to," "will continue," "anticipates," "expects," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "think", "considers" or similar expressions are intended to identify "forward-looking statements." These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. NutraFuels cautions readers not to place undue reliance on such statements. NutraFuels does not undertake, and NutraFuels specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. Actual results may differ materially from NutraFuels' expectations and estimates.
FOR FURTHER INFORMATION PLEASE CONTACT:
6601 Lyons Road, Suite L-6
Coconut Creek, FL 33073
NutraFuels Legal Counsel:
Hamilton & Associates Law Group P.A.
101 Plaza Real South, Suite 202 North
Boca Raton, Florida 33432
Telephone: (561) 416-8956
Facsimile: (561) 416-2855