COCONUT CREEK, FL, April 19, 2018 (GLOBE NEWSWIRE) -- NutraFuels Inc. (“NutraFuels” or “NTFU”), (OTC Markets OTCQB: NTFU), today announced financial results for its fiscal year ended December 31st, 2017. The Company posted 2017 annual revenue of $1,790,168 and loss per diluted share of $(0.33). These results compare 2016 annual revenue of $225,293 and loss per diluted share of ($0.06).
2017 Sales are up 694.6% over 2016. ($1,790,168 compared to $225,293).
2017 Gross Margin is up 2,460.1% over 2016. ($770,535 compared to $30,098).
2017 G&A is up 72.2% from 2016 ($1,136,626 compared to $660,214).
2017 Loss from Operations is up 1,259.3% from 2016. ($20,290,113 compared to $1,492,727).
2017 Net Loss is up 1,025.9% from 2016 ($23,629,117 compared to $2,098,771).
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2017 cash used by operations decreased 40% from 2016.
2017 cash provided by financing activities increased 82.9 % from 2016.
New Debt is down $379,500 or 100.0 % for 2017 compared to 2016.
The sale of stock increased $823,000 or 147.9% in 2017 compared to 2016.
Debt at December 31, 2017 - $0
2017 annual loss includes $23,137,989 of non-cash charges relating to the conversion of debt and shares issued for services.
“NutraFuels, Inc. (“NTFU”) is pleased to report its 2017 year-end financials and announce that its revenues have improved substantially from the prior year,” said Edgar Ward, NTFU’s CEO. “The large increase in the NTFU’s revenue is a direct result of increased new business in the CBD sector and reorder production over this past year. NTFU’s net loss reflects non-recurring additional paid in capital as non-cash and is in the form of stock issued at fixed prices for debt conversions and for services rendered throughout the year. NTFU has entered phase two of its build out of its new manufacturing facility in Deerfield Beach, FL. and looks forward to the increased capacity and efficiencies that will come with this state of the art facility.”
Forward Looking Statements
This press release contains forward-looking statements, particularly as related to, among other things, the business plans of NutraFuels, Inc. (“NTFU”) statements relating to goals, plans and projections regarding NTFU’s 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. NTFU cautions readers not to place undue reliance on such statements. NTFU does not undertake, and NTFU 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 NTFU’s expectations and estimates.