COCONUT CREEK, FL., May 22, 2018 (GLOBE NEWSWIRE) -- NutraFuels Inc. (“NutraFuels” or “NTFU”), (OTC Markets OTCQB: NTFU), today announced financial results for its fiscal 2018 first quarter ended March 31st 2018. The Company posted quarterly revenue of $722,905 and quarterly loss per diluted share of ($0.01). These results compare to revenue of $232,639 and loss per diluted share of ($0.07) in the same quarter of last year.
Q1 2018 Sales are up 210.7% over Q1 2017. ($722,905 compared to $232,639).
Q1 2018 Gross Margin is up 273.2% over Q1 2017. ($367,220 compared to $134,251).
Q1 2018 G&A is up 10.1% from Q1 2017 ($321,061 compared to $291,521).
Q1 2018 Loss from Operations is down 48.4% from Q1 2017. ($595,961 compared to $1,154,158).
Q1 2018 Net Loss is down 86.3% from Q1 2017 ($613,735 compared to $4,493,888).
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2018 year to date cash used by operations decreased 98.8% from 2017 year to date.
2018 year to date cash provided by financing activities decreased 100% from 2017 year to date.
The sale of stock decreased $775,500 or 100% for the three months 2018 compared to the three months 2017.
Receivables are down from $132,133 on March31, 2017 to $54,082 on March 31, 2017.
Debt at March 31, 2018 is zero.
The three-month loss includes common stock issued in exchange for services valued at $511,902.
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“We are pleased to report our 1st quarter financials and we are happy to announce that they have improved year over year and from the 4th quarter of 2017,” said Edgar Ward, NutraFuels CEO.
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 please visit our corporate website.
Safe Harbor
This press release contains forward-looking statements, particularly as related to, among other things, the business plans of NutraFuels, Inc 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.