"The company saw record sales and record purchase orders during our first fiscal quarter. During the quarter our sales exceeded over $1.5 million and our gross purchase orders were in excess of $2.3 million. We continue to expand our sales efforts in the Southwestern United States and have added new retailers throughout the U.S.," stated Mr. Steven Nickolas, President and CEO of the Company.
"We see continued strong demand for our products at each of our retailers, and have already shipped over $1,000,000 of product in our current second fiscal quarter. With the addition of new retailers and increases in current store volumes, we expect to see significant sales growth over the next three quarters of fiscal 2016. Our extraordinary growth has been encumbered by supply chain issues but we have recently added new suppliers and capital that should allow us to meet our fiscal 2016 goals," Nickolas further stated.
Based on these factors, the Company has reiterated the following guidance:
We expect to be cash-flow breakeven by the third fiscal quarter 2016. We expect revenue in excess of $10,000,000 for the fiscal year ending March 31, 2016. We expect to be selling in over 25,000 stores nationwide by the end of fiscal year 2016. We expect fourth quarter profitability during fiscal year 2016.
Additional details of the Company's business, finances, appointments and agreements can be found as part of the Company's continuous public disclosure as a reporting issuer with the Securities and Exchange Commission ("SEC") available at www.sec.gov. For more infor |