NEW YORK, Oct. 16, 2017 (GLOBE NEWSWIRE) -- ImmuDyne, Inc. (OTCQB:IMMD) (“ImmuDyne” or the “Company”), a leader in the development and online marketing of OTC health and wellness products addressing large unmet needs, today announces its unaudited financial results for the third fiscal quarter of 2017.
ImmuDyne and its online direct-response marketing subsidiary, ImmuDyne PR, report that they collectively achieved record gross revenue of $2.077M in the third quarter. As was stated previously in our September 20, 2017 press release, the Company anticipates continued quarterly revenue growth from our existing brands and from new brands launching over the next 2 quarters. New product launch expenses will be internally financed by the company’s increasing cashflow Cash on hand was approximately $600,000, as of September 30, 2017.
“We believe this quarter’s performance represents a major inflection point for ImmuDyne,” stated Mark McLaughlin, CEO of ImmuDyne. “We continue to be extremely happy with the launch of Shapiro MD. We are profitable, and well prepared for significant growth over the next several quarters.”
About Shapiro MD™
The Shapiro MD product line is the result of 15 years of research and development by thought-leading dermatologists Dr. Steven Shapiro and Dr. Michael Borenstein. It is protected by two U.S. patents and is the only product in the hair loss vertical that contains what we believe are the 3 most powerful, naturally-occurring dihydrotestosterone (DHT) blocking ingredients. DHT is widely believed to be the main culprit of balding/hair-loss. For more information on Shapiro MD or to purchase the product, please visit www.shapiromd.com.
About ImmuDyne
ImmuDyne, Inc. (the "Company") is a health and wellness company that develops, manufactures, and markets innovative consumer products. ImmuDyne manufactures and markets a proprietary and patent protected Yeast Beta Glucan that has been shown in thousands of clinical studies to support and regulate the human immune system. It has broad applications in skincare and as an immune support supplement. ImmuDyne PR, a majority owned subsidiary of ImmuDyne, Inc., is the digital marketing arm of ImmuDyne and is currently focused on marketing products for thicker and fuller hair (Shapiro MD) and a skincare line containing ImmuDyne’s proprietary Yeast Beta Glucan ingredient (Inate MD). All of ImmuDyne'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 ImmuDyne'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.
The preliminary, unaudited information provided above is based on the Company’s current estimate of results from operations for the third quarter and its cash at September 30, 2017, and remains subject to change based on the Company’s closing procedures, including the subsequent occurrence or identification of events prior to the formal issuance of the quarterly financial statements.
Investor Relations Contact:
Bernard Girma
+1-949-215-7754