ImmuDyne Announces Q3 2016 Net Sales Up 395%, Adjusted Non-GAAP Net Income
November 15 2016 - 8:15AM
lmmuDyne (OTCQB:IMMD) announced today its financial results for the
3rd quarter, and year to date, for the period ended September 30,
2016.
Quarterly net sales increased 395% to $1.38 million. Year to
date sales increased to $4.25 million. Adjusted non-GAAP Net
(loss) income for the quarter was $(55,420), and $31,117 year to
date.
Please see the schedule accompanying this release for a
reconciliation of adjusted net income to the comparable GAAP
measure.
About lmmuDyne
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. The Company's products
include once a day oral intake capsules as well as topical serums
and creams for skin application. lmmuDyne also has developed a
proprietary natural delivery technology for potential new market
opportunities. All of lmmuDyne's intellectual property is protected
by patents and/or trade secrets. Additional information can be
found on the web at www.immudyne.com.
Forward-Looking Statements
Cautionary language regarding Forward-Looking Statements Safe
Harbor Act Disclaimer: Forward looking statements in this release
are made pursuant to the Safe Harbor Provisions of the Private
Securities Litigation Reform Act of 1995. Certain statements in
this press release, including projections with respect to
lmmuDyne's results of operations, may contain words such as
"anticipates," "believes," "could," "estimates," "expects,"
"intends," "may," "projects," "plans," "targets" and other
similar language and are considered forward-looking statements.
These statements are based on management's current expectations,
estimates, and forecasts. These forward-looking statements are
subject to important assumptions, risks and uncertainties, which
are difficult to predict and therefore the actual results may be
materially different from those discussed.
Immudyne, Inc. |
Reconciliation of GAAP Net Income (Loss) to Non-GAAP
Net Income (Loss) |
(unaudited) |
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Three Months Ended September
30, |
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Nine Months Ended September
30, |
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2016 |
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2015 |
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2016 |
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2015 |
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Adjusted Non-GAAP Net Income: |
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GAAP Net (loss)
income attributable to Immudyne, Inc. |
$ |
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(226,651 |
) |
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$ |
8,119 |
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$ |
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(488,676 |
) |
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$ |
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(11,243 |
) |
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Non-GAAP
Adjustments: |
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Expense for contingent options |
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55,591 |
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10,500 |
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133,324 |
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14,500 |
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Common stock issued for
compensation |
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76,667 |
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- |
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306,667 |
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- |
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Fair value of options and warrants
issued for services |
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32,983 |
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- |
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73,812 |
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- |
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Amortization of debt discount |
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5,990 |
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- |
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5,990 |
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- |
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Total non-GAAP
adjustments |
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171,231 |
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10,500 |
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519,793 |
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14,500 |
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Adjusted
non-GAAP Net (loss) income attributable to Immudyne,
Inc. |
$ |
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(55,420 |
) |
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$ |
18,619 |
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$ |
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31,117 |
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$ |
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3,257 |
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This earnings release contains non-GAAP financial measures that
may not be directly comparable to other similarly titled measures
used by other companies. For purposes of Regulation G, a non-GAAP
financial measure is a numerical measure of a company's historical
or future financial performance, financial position or cash flows
that excludes amounts, or is subject to adjustments that have the
effect of excluding amounts, that are included in the most directly
comparable measure calculated and presented in accordance with GAAP
in the statements of operations, balance sheets, or statements of
cash flows of the Company; or includes amounts, or is subject to
adjustments that have the effect of including amounts, that are
excluded from the most directly comparable measure so calculated
and presented. Pursuant to the requirements of Regulation G, the
Company has provided reconciliations of non-GAAP financial measures
to the most directly comparable GAAP financial measures. These
non-GAAP measures are provided because management of the Company
uses these financial measures in monitoring and evaluating the
Company's ongoing financial results and trends. Management uses
this non-GAAP information as an indicator of business performance,
and evaluates overall management with respect to such indicators.
These non-GAAP measures should be considered in addition to, but
not as a substitute for, measures of financial performance prepared
in accordance with GAAP.
Contact: ImmuDyne, Inc. Mark McLaughlin: +1-914-714-8901