Immudyne Announces Strong Preliminary 2nd Quarter Results & Provides Financial Update
MT. KISCO, N.Y., July 18, 2017 (GLOBE NEWSWIRE) -- Immudyne, Inc. (OTCQB:IMMD) (“Immudyne” or the “Company”), a leader in the development and marketing of OTC health and wellness products addressing large unmet needs, announced today the Company’s preliminary financial results for the fiscal second quarter ended June 30, 2017. The Company expects to report net revenue was approximately $1.1 million, an increase of approximately 150% from the previous quarter. Revenue growth in the second quarter was led by the Shapiro MD product line, sold through Immudyne’s majority owned subsidiary, Immudyne PR, LLC. Immudyne’s strategic additive business also increased approximately 74% from the previous quarter.
“Although it’s our current policy not to publicly project future revenue, we will simply say that we are very pleased with our sales performance in the second quarter, and look forward to the remainder of 2017 and beyond,” stated Mark McLaughlin, CEO of Immudyne. “Immudyne and our PR subsidiary have built a highly scalable infrastructure and a world-class marketing team that is beginning to show promising traction across multiple brands. Our restructuring effort that we began late last year is clearly starting to pay off.”
The Company estimates that it had approximately $700,000 in cash, near-term receivables and merchant reserves as of July 15, 2017. Additionally, between April 1, 2017 and July 15, 2017, Immudyne reduced its net liabilities by approximately $200,000.
“The restructuring effort we began in early 2017 is starting to gain traction,” stated Stefan Galluppi, COO of Immudyne. “We’ve internalized most of our media buying, significantly improved our margins, and have created a patented product line that we can roll out globally in a multi-billion-dollar market.”
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.
lmmudyne, 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 lmmudyne's intellectual property is protected by patents and/or trade secrets. Additional information can be found on the web at www.immudyne.com.
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 lmmuDyne'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 second quarter and its cash at June 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.
Contact: ImmuDyne, Inc. Mark McLaughlin: +1-914-714-8901Source: ImmuDyne, Inc.
Released July 18, 2017