The Company Generated Record Revenue in Excess of $500,000 for the Third Quarter Ended September 30, 2014
PALM CITY, FL -- (Marketwired) -- 10/27/14 -- GelStat Corporation (PINKSHEETS: GSAC), a fully integrated consumer healthcare company engaged in the development, marketing, branding and manufacturing of innovative over-the-counter (OTC) consumer healthcare products, reports preliminary third quarter revenue and updates guidance for the fourth quarter. The Company will report its comprehensive financial results for the period ended September 30, 2014 on or before November 15, 2014.
GelStat Corporation generated consolidated revenue in excess of $500,000 for the third quarter ended September 30, 2014 led by its wholly owned subsidiary Mastix Medica. As previously reported, Mastix's product development project list has been robust with a good combination of contract manufacturing customers and its own proprietary products.
Larry Gershman, GelStat's CEO, said, "The third quarter of 2014 was another exceptional quarter for GelStat as we realized the benefits of our acquisition of Mastix Medica while achieving increased sales of GelStat Migraine as well as signing distribution agreements for Chews 2 Lose and All Natural Speed. As we enter the fourth quarter, these trends remain strong and we are increasing our revenue forecast from $500,000 to over $750,000 for the fourth quarter ending December 31, 2014."
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ABOUT GELSTAT CORPORATION
GelStat Corporation is a publicly-traded company trading under the symbol ("GSAC") that is engaged in research, development, marketing and branding of innovative over-the-counter (OTC) consumer healthcare products addressing very large markets. Through its recent acquisition of Mastix Medica (now a wholly owned subsidiary of GelStat), it is now a fully integrated healthcare products company with proprietary manufacturing capabilities. For more information, visit www.gelstat.com.
Mastix Medica develops and manufactures niche healthcare products in dosage forms like tableted chewing gum, chewable tablets and lozenges. Mastix Medica is one of very few companies in the world that has the ability to make tableted chewing gum products at room temperature versus the traditional boiling process which can degrade the active ingredients and reduce their efficacy. Most importantly, Mastix Medica has a patent pending process for incorporating hemp oil into chewing gum, lozenges and chewable tablets. For more information on Mastix Medica visit: http://mastixmedica.com
Safe Harbor Statement
This press release contains forward-looking statements including the projected revenue that Mastix may produce, the forecasted size of the migraine market and the forecasted value of the energy drink market. Forward-looking statements can be identified by words such as "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects" and similar references to future periods.
Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. We caution you therefore against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements include the ability of Mastix to obtain future customers, regulatory and other legal changes which may affect the forecasts, and the demand for hemp based products as well as the ability to sell hemp products.
Any forward-looking statement made by us in this press release speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
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Source: GelStat Corporation