GROUPE ATHENA, INC. RELEASES YEAR END FINANCIALS, CONTINUES RECORD REVENUE AND EARNINGS GROWTH
August 05 2013 - 4:15PM
OTC Markets
Mumbai, India ? August
4, 2013 ? Groupe Athena, Inc. (Pink sheets GATA.PK) is
very excited to post
the results for their fiscal year ending June 30, 2013. Annual
revenue for the
period was $56,457,443 which is an increase of more than 26% over
the previous
fiscal year and represents another new benchmark for the company.
EBITDA for
the year was also strong at $8,956,726 and net after tax income for
the period
was $5,440,694 or $.12 per share.
Current assets have risen to $10,287,188 as of
June 30 and
consist of primarily cash and short term investments. The company
does expect
to use a portion of their retained earnings to begin the outfitting
of their
recently purchased new testing facility, and to pursue other
anticipated growth
investments to be announced.
Company Chairman, D. Purohit stated, ?This is
a very
exciting time for Groupe Athena, Inc. as we transition from a
start-up company
to an established regional pharmaceutical force. As we develop new
global and
regional relationships, and as dynamics within our industry evolve,
we are
seeing many exciting opportunities unfold that we hope to
capitalize on in the
near term.
As previously stated, the company plans to
apply for listing
on the NASDAQ Bulletin Board quotation system and hopes to have all
relevant
SEC filings submitted and subsequent SEC approval by the fiscal
year end.
To review the complete quarterly report please
go to www.otcmarkets.com/stock/GATA/quote
and click on ?Financials?
The Indian
pharmaceutical industry is increasingly focusing on exports to the
United States and GATA is well positioned to
help them get their products approved by the FDA for sales in the
US. All of
these are potential clients and the Company believes it has an
advantage over
competitors due to the facilities based in India, and their ability
to deliver
quick feedback to clients that could result in expedited order
generation. With
recent additions to equipment, the company will continue to take on
additional
contracts and continue to anticipate further growth.
About
Groupe Athena, Inc.
Groupe Athena Inc. was
incorporated in June 2008 and began operations
on July 1 of that year. The company is a research and testing
organization and
helps various pharmaceutical and medical products and devices
companies in India and Southeast Asia to get regulatory
approvals and facilitate exports of their products to the United
States. The
Company accomplishes this by assisting clients from concept
through
development, providing consultation on regulatory requirements,
filings and
processes.
The company has a research
and
marketing facility in India
that currently employs 17 consultants and marketing personnel and
is working towards
aggressively expanding its presence in the Indian pharmaceutical
industry. The
Company?s web address is www.groupeathena.com
For more information contact:
Paul Cornell
Corporate Shareholder Relations, Inc.
Cornelllpaul6@gmail.com
Safe Harbor
Statement
Certain
statements set forth
in this press release constitute "forward-looking statements.?
Forward-looking statements include, without limitation, any
statement that may
predict, forecast, indicate, or imply future results, performance
or
achievements, and may contain the words "estimate",
"project", "intend", "forecast",
"anticipate", "plan", "planning",
"expect", "believe", "will likely",
"should", "could", "would", "may" or
words or expressions of similar meaning. Such statements are not
guarantees of
future performance and are subject to risks and uncertainties that
could cause
the company's actual results and financial position to differ
materially from
those included within the forward-looking statements.
Forward-looking
statements involve risks and uncertainties, including those
relating to the
Company's ability to grow its business. Actual results may differ
materially
from the results predicted and reported results should not be
considered as an
indication of future performance. The potential risks and
uncertainties
include, among others, the Company's limited operating history, the
limited
financial resources, domestic or global economic conditions --
activities of
competitors and the presence of new or additional competition and
conditions of
equity markets.