ImmuDyne Announces Preliminary Q3 Revenues
October 11 2016 - 8:30AM
ImmuDyne, Inc. (OTCQB:IMMD) (“Immudyne” or the “Company”), a leader
in the development and marketing of OTC health and wellness
products addressing large unmet needs, today announced
preliminary financial results for the third quarter and nine months
ended September 30, 2016. The expected results reflect the
continued growth of Immudyne PR, LLC, Immudyne’s direct-to-consumer
marketing subsidiary.
Operational Highlights:
- For the nine months ended September 30, 2016 revenue is
expected to be $4.158 million compared to $845,513 for the first
three quarters of 2015.
- Third quarter revenue was expected to be $1.29 million compared
to $279,884 for the third quarter of 2015, an increase of
361%.
- Fourth quarter revenue forecasted to continue to be robust;
Total revenue for 2016 expected to exceed $5 million.
- ImmuDyne’s focus is on improving profit margins across all
business units.
- The Company’s approximate cash and near term receivables on
hand was approximately $575,000 at September 30, 2016.
- During the third quarter, ImmuDyne finalized an exclusive
in-license with Pilaris, for patented hair loss products, and a
beta product launch is anticipated in Q4.
- The Company is in late stage due diligence and product testing
on several other acquisition and/or business development activities
which we believe could create significant value for our
shareholders.
Mark McLaughlin, President and CEO of the Company, commented,
“Our financial results through the third quarter of 2016 reflect
our focus on revenue growth and profitability. We believe we will
continue to have robust growth with our existing and newly acquired
brands through our global direct response marketing platform. Our
demonstrated ability is built upon an experienced management team
and a strong value proposition to our customers.”
Safe Harbor Statement
This press release contains forward-looking statements,
including its expected results for the third quarter of 2016,
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Reliance should not be placed on forward-looking
statements because they involve unknown risks, uncertainties and
other factors, which are, in some cases, beyond the control of
Immudyne. Actual events, performance or results could differ
materially from the anticipated events, performance or results
expressed or implied by such forward-looking statements. We
undertake no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise.
About ImmuDyne, Inc.
lmmuDyne, Inc. (the "Company") is a health and wellness company
which develops, manufactures, markets, and sells innovative
lifestyle products. The Company's lead products contain its
proprietary yeast beta glucans that have been shown through testing
and analysis to support the immune system. ImmuDyne also has a
majority owned direct marketing division that markets immune
support, skincare and hair loss products directly to consumers
around the world. All of the Company’s intellectual property is
protected by patents and/or trade secrets. Additional information
can be found on the web at www.immudyne.com
Contact:
lmmuDyne, Inc.
Mark McLaughlin: +1-914-714-8901