The Company Generated Record Revenue of $750,218 for the Fourth Quarter Ended December 31, 2014 and Record Revenue of $1,312,675 for the Full Year Ended December 31, 2014
PALM CITY, FL -- (Marketwired) -- 04/16/15 -- GelStat Corporation (OTC PINK: GSAC), a fully integrated consumer healthcare company engaged in the development, marketing, branding and manufacturing of innovative over-the-counter (OTC) consumer healthcare products, today reported fourth quarter and year end results.
2014 was a very productive year for GelStat as it significantly increased its operations and capabilities through the acquisition of Mastix Medica. The Company now has an established foundation to build upon as well as key manufacturing capabilities and intellectual property.
Highlights for the 4th Quarter Ended December 31, 2014:
- Generated revenue of $750,218 up 38% from $542,477 in the prior quarter.
- Net Losses were $178,805 down 61% from $457,935 in the prior quarter.
Highlights for the Full Year Ended December 31, 2014:
- Generated revenue of $1,312,675.
- Generated gross profit of $221,860.
- Completed the acquisition of Mastix Medica, LLC.
- Signed distribution agreements with Windmill Health Products and Next Distributors, LLC.
- Initiated clinical studies on the effects of Cannabidiol (CBD) infused hemp oil products and CBD oil on pain and inflamed tissue with two recognized experts in their field. Preliminary evidence looks very promising.
To view the comprehensive financial results for the period ended December 31, 2014 visit: http://www.otcmarkets.com/financialReportViewer?symbol=GSAC&id=135853
Outlook for the remainder of 2015
Leveraging our proprietary manufacturing process to make chewing gum and lozenges incorporating dietary supplement active ingredients, we expect revenue for 2015 to be in the range of $3.0 to $5.0 million. This revenue growth is expected to come from the continuation of existing products we manufacture for our customers as well as from new proprietary and branded product launches. One new product in final stages of retail distribution approval alone could generate revenue of $500,000 or more in the second or third quarter of 2015.
As previously announced, we have received positive feedback from early stage studies on new products that incorporate CBD in regards to their effects on pain and inflammation. As a result, we are in late stage discussions with multiple parties to secure the supply chain for high quality CBD rich hemp oil required for the manufacturing of these new products which we anticipate to launch in 2015. In addition to our proprietary, branded CBD products, we plan to market and sell CBD rich hemp oil through wholesale distribution channels.
Larry Gershman, GelStat's CEO, said, "2014 was transformational for GelStat and we are even more excited about our prospects for 2015. Every quarter we build our strategic position to benefit from the explosive growth in the CBD healthcare products market. By the end of 2015, we expect to have our own line of clinically validated products infused with CBD available for sale opening up a tremendous opportunity for our company and its shareholders."
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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
CBD (Cannabidiol) is a natural constituent of hemp oil, which is a well-known dietary supplement and food ingredient. Naturally occurring CBD in hemp oil possesses no psychoactive qualities. Gelstat, Inc. does not sell or distribute any products that are in violation of the United States Controlled Substances Act (US.CSA).
FOOD AND DRUG ADMINISTRATION (FDA) DISCLOSURE: These statements have not been evaluated by the FDA and are not intended to diagnose, treat or cure any disease.
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