NutraFuels, Inc. (NTFU) Provides 3rd Quarter Financials
COCONUT CREEK, FL–(Marketwired – December 05, 2017) – NutraFuels Inc. (“NutraFuels” or “NTFU”), (OTC PINK: NTFU), today announced financial results for its fiscal 2017 third quarter ended September 30th, 2017. The Company posted quarterly revenue of $652,329 and quarterly loss per diluted share of $(0.0008). These results compare to revenue of $44,208 and loss per diluted share of $($0.014) in the same quarter of last year.
Q3 2017 Sales are up 1,375.6 % over Q3 2016. ($652,329 compared to $44,208).
Q3 2017 Gross Margin is up 1,213.9 % over Q3 2016. ($303,774 compared to $23,120).
Q3 2017 G&A is up 102.9 % from Q3 2016 ($111,572 compared to $54,980).
Q3 2017 Loss from Operations is down 82.4 % from Q3 2016. ($55,913 compared to $317,342).
Q3 2017 Net Loss is down 86.7 % from Q3 2016 ($56,496 compared to $424,094).
2017 year to date cash used by operations increased 49.0 % from 2016 year to date.
2017 year to date cash provided by financing activities increased 127.0 % from 2016 year to date.
New debt is down $1,774,251 or 100.0 % for the nine months 2017 compared to the nine months 2016. The sale of stock increased $778,500 or 129.5 % for the nine months 2017 compared to the nine months 2016.
Receivables up from $0 on December 31, 2016 to $115,240 on September 30, 2017.
Debt at September 30, 2017 – $14,000
Nine-month loss includes $22,251,186 of non-cash charges relating to the conversion of debt and shares issued for services.
“We are pleased to report our 3rd quarter financials and we are happy to announce that they have improved from the 2nd quarter and through the nine months ending September 30th,” said Edgar Ward, NutraFuels CEO. “The increased revenue is a direct result of reorder production over this past quarter.”
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.
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.