BENTONVILLE, AR, Aug. 24, 2021 (GLOBE NEWSWIRE) -- Glucose Health, Inc. (OTC Pink: GLUC) ("Company") is pleased to expand upon key financial information pertaining to the first six months of fiscal 2021, presented in its June 30th financial report posted at OTCMarkets.com.
Zero Debt
At the inception of Glucose Health, Inc.'s current business operations involving the manufacture and distribution of GLUCODOWN® branded products, management implemented a long-term debt reduction strategy with the objective of eliminating all debt obligations on the balance sheet, systematically over a period of years. To the present date, dozens of financial obligations and entanglements have been repaid or otherwise settled and retired. For the first time in its corporate history, Glucose Health, Inc. is now a debt free company.
Reduction of Share Count by 1/3
Certain of Glucose Health, Inc.'s (now retired) debts were convertible into millions of shares of common equity. By adhering to its long-term debt management strategy, the Company successfully prevented tens of millions of potentially dilutive shares from being issued. The result is the Company's equity structure may now be considered among the most straightforward, transparent, and attractive of any development stage company quoted by OTCMarkets. Today, Glucose Health, Inc. has 22,128,632 fully diluted common shares, of which 13,848,630 are already issued and 8,280,002 are potentially issuable.
Zero Liabilities
At June 30, 2021, Glucose Health, Inc. reported zero liabilities on its balance sheet. The genesis of this result dates to the first production run of GLUCODOWN® in the last quarter of 2017. At that time, management implemented a long-term strategy of prioritizing cash-in-advance payments to its suppliers for raw materials and contract manufacturing expenses. By maintaining low (or zero) accounts payables, management avoided the need to supplement working capital with supply chain financing. Today, the Company maintains an enviable track-record, relative to other publicly traded beverage and nutritional supplement companies, of having declined every offer of inventory financing, purchase order financing or factoring (the pre-selling of a company's receivables) from supply chain finance companies which specialize in such arrangements (often at usurious rates of interest).
In contrast, to enhance working capital flexibility Glucose Health, Inc. entered into an agreement with Citibank, N.A. ("Citibank") in 2017, for early invoice payment (not traditional factoring). Under this program, which continues in place to the present date, Glucose Health, Inc. receives payment for certain of its invoices, from Citibank, typically one week after their issuance. The interest rate charged by Citibank is a small premium to the Federal Reserve Bank of New York's overnight discount rate and is on-par with similar financing offered to large NASDAQ or NYSE listed companies.
About Glucose Health, Inc. (OTC Pink: GLUC)
With a focus on creating delicious beverages nutritionally appropriate1 for the nation's 100+ million2 pre and Type-2 diabetics, Glucose Health, Inc., the manufacturer of GLUCODOWN®, is uniquely positioned among all emerging beverage companies in America. The GLUCODOWN® brand is the market leader in an entirely new beverage category – functional, diabetic friendly, beverages. Glucose Health, Inc. is a publicly traded company with the ticker symbol OTC Pink: GLUC.
To buy GLUCODOWN® visit our Amazon Store at www.amazon.com/glucodown
Like us on Facebook at www.facebook.com/glucodown
For more GLUC information, visit www.glucosehealthinc.com
1 For citations visit www.glucodown.com/clinical-data
2 National Diabetes Statistics Review, 2020; Centers for Disease Control and Prevention, Department of Health and Human Services
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and while Glucose Health, Inc. is not subject to the 1934 Securities and Exchange Act, contains forward-looking statements within the meaning Section 21E of the Securities and Exchange Act of 1934, as amended. Statements that are not a description of historical facts constitute forward-looking statements and may often, but not always, be identified by the use of such words as "expects," "anticipates," "intends," "estimates," "plans," "potential, "possible," "probable, "believes," "seeks," "may, "will, "should," "could" or the negative of such terms or other similar expressions. Actual results may differ materially from those set forth in this release due to the risks and uncertainties inherent in the Company's business. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement and the Company undertakes no obligation to revise or update this release to reflect events or circumstances after the date hereof.
Contact:
Murray Fleming
Glucose Health, Inc.
(479) 802-3827
