Wheat Ridge, COLORADO, Jan. 28, 2022 (GLOBE NEWSWIRE) -- GenTech Holdings, Inc. (OTC Pink: GTEH) (“GenTech” or the “Company”), (a/k/a Supplement Group (USA) Inc.) (www.gentechholdings.com) an emerging leader in the Functional Food (www.sinfit.com) and Nutritional Supplement (www.americanmetabolix.com) marketplaces, shows extremely impressive annual financial year-over-year growth from $250k to $900k. The Trailing Twelve Months(TTM) revenues also rises to an impressive $1.3m+ which is an incredible growth curve from companies in their first full calendar year of operations.
The growth curve the company is embarking on is also showing no signs of remotely slowing down and it is now running at an annualized revenue rate of more than $2.5m. With GenTech’s new brands Storm® and Fizzique® coming on stream already, the revenue estimates previously disseminated remain fully on track.
The American Metabolix, Inc., acquisition was a September 1st closing and accounted for $400k in its first four full months of operations at GenTech, translating to at least a $1.2m revenue brand on its own in the future, not even accounting for the growth that the brand is now seeing.
The Company also previously announced that Nature Soothie had sold out each production run to Sprouts® and Whole Foods® to date and SINFIT Nutrition’s plant-based bars are also factors that have led to a growth curve year with significantly stronger revenues weighted towards the end of the year.
David Lovatt, CEO of GenTech Holdings commented, “These figures continue to show exceptional growth relative to our 2020 revenues. To be able to close out the Oct. ‘20 to Oct. ‘21 year-end figures at around $900,000 against previous year’s figures which were in the $200s, shows very exciting growth. When you add in the trailing twelve months figures to the equation, that’s when you really see the growth that is happening in real time, as that figure comes out in excess of $1.3m for calendar year 2021.
Lovatt continued “With the latest revenue figures calculated and as we continue to extrapolate forward, it is looking like $3.5 million in 2022 is a feasible and realistic goal. However, we anticipate a much more aggressive growth curve than that, based on the addition of Fizzique and Storm to our offerings. Our forecasts for 2022 show stretch targets around the $7m mark, but if all goes well with Fizzique, we could definitely exceed our top end $10m target.”
Note: Figures presented for TTM are unofficial and provisional and may be adjusted in future financial disclosures. The Company’s financial fiscal year-end is 10/31. The full financials will be filed with OTCMarkets.com on Monday Jan 31st 2022.
About GenTech Holdings, Inc.
GenTech Holdings, Inc. (a/k/a Supplement Group (USA) Inc., www.supplementgrp.com) is a publicly traded company under the symbol GTEH. The Company owns and operates leading functional foods brand, SINFIT Nutrition, which offers a range of high-end Functional Foods as well as American Metabolix, Inc. which provides a diverse range of Nutritional Supplements through its brands American Metabolix, Storm Lifestyles and Core Natural Sciences.
www.sinfit.com www.americanmetabolix.com www.stormlifestyles.com www.nxtbar.com www.naturesoothie.com www.swftstims.com www.yourganics.com www.mpbsnacks.com www.drinkfizzique.com
Forward-Looking Statements
This press release may contain forward-looking statements, including information about management's view of GenTech, Inc.'s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of GenTech, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on GenTech's future results. The forward-looking statements included in this press release are made only as of the date hereof. GenTech cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, GenTech undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by GenTech.
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