Glucose Health, Inc. -- Fiscal 2020 Annual Report & Q1 2021 Revenue Guidance
Bentonville, Arkansas--(Newsfile Corp. - March 31, 2021) - Glucose Health, Inc. (OTC Pink: GLUC) ("Company") is pleased to highlight key financial metrics detailed in its Fiscal 2020 Annual Report posted today at OTCMarkets.com, and additionally, pleased to provide guidance for revenue expected for the 1st quarter of 2021.
- Fiscal 2020 Revenue of $480,713 vs. $291,213 for Fiscal 2019 = a 65% Increase
- Fiscal 2020 Gross Profit of $173,545 vs. $82,679 for Fiscal 2019 = a 110% Increase
- Fiscal 2020 Total Liabilities of $303,527 vs. $380,652 for Fiscal 2019 = a 20% Decrease
- Fiscal 2021 Q1 Revenue of $207,000 vs. $82,613 for Fiscal 2020 Q1 Revenue = a 150% Increase
On February 3, 2020, Glucose Health, Inc. issued by press release, the following five strategic goals to be achieved for fiscal 2020:
- Amazon Growth. Amazon is the fasting growing distribution channel and key to achieving GLUCODOWN® sales revenue targets in 2020.
- More Pharmacy Retailer Partnerships. We are in active pursuit of shelf space at national pharmacy retailers to further increase distribution of GLUCODOWN®.
- Direct Response Sales. Establish a direct response sales channel with toll-free number plus expanded TV advertising on Hallmark, Game Show Network, National Geographic and new for 2020, Fox News Channel
- Additional Line Extensions. Introduce differentiated container sizes for all four flavors of GLUCODOWN® tailored to individual distribution channels; smaller containers for budget retailers; larger containers for full-service pharmacy retailers.
- Increase Profit Margins by 50%. Increase profit margin by 50% through improved production methods and cost-control and selected retailer product price increases."
The Company's success in achieving all five Strategic Goals during fiscal 2020 was exemplary.
Goal #1 - Amazon Growth: On May 13, 2020, fully seven months prior to the end of fiscal 2020, the Company provided revenue guidance by press release, for the first time, indicating that sales at Walmart and Amazon were on a trajectory to potentially reach $500,000 by fiscal year end. With total revenues of $480,713 achieved in fiscal 2020, such guidance, when periodically issued by the Company, can be relied upon with confidence, by all shareholders and interested investors.
Revenue for the first quarter of fiscal 2021 is expected to be greater than $207,000; a 150% increase or more than double revenues achieved in the first quarter of fiscal 2020.
The GLUCODOWN® brand is less than three years old. The GLUCODOWN® trademark was first registered with the United States Patent and Trademark Office (USPTO) on September 25, 2018. The Company applied for and received Amazon's designation of GLUCODOWN® as a registered brand in the Amazon Brand Registry and opened its Amazon store (www.amazon.com/glucodown) with first product sales at the close of fiscal 2018.
In the last 2 fiscal years, 2019 and 2020, the GLUCODOWN® brand has experienced continuous and accelerating sales growth at Amazon - unequivocal evidence of the brand's popularity within its target consumer market. GLUCODOWN® is unique. It's a delicious tasting beverage…that additionally provides beneficial and often measurable physiological impacts for many millions of potential consumers.
Goal #2 - More Retailers: In fiscal 2020, the Company secured placement of all four flavors of GLUCODOWN® iced tea beverages with its second, national, pharmacy retailer chain, in addition to Walmart, CVS Pharmacies. Prior to final placement on CVS Pharmacy shelves, GLUCODOWN® was submitted to NSF International by requirement of CVS Pharmacies, for rigorous testing, including the validity of all label claims. GLUCODOWN® passed all tests in its first testing protocol - testament to the outstanding quality of the GLUCODOWN® brand and the world-class ingredient manufacturers and processors within the Glucose Health, Inc. supply chain.
Goal #3 - More Brand Awareness: In fiscal 2020, the Company expanded its advertising well beyond Hallmark, Game Show Network, National Geographic and Fox News Channel, to also include many additional popular cable channels such as Great American Country. The Company also pushed shorter versions of its TV commercial through regular Facebook advertising for the first time, with excellent viewership. In Q1 fiscal 2021, the Company advertised on CNBC's popular Shark Tank program - with a robust GLUCODOWN® sales jump - indicating the wide demographic reach of the GLUCODOWN® brand.
Goal # 4 - More Products: During the first quarter of fiscal 2021, the Company launched new variety and double packs of its existing GLUCODOWN® iced tea beverages at Amazon, in a test of consumer demand for such offerings. The response of customers to these new purchasing options has been extraordinary. All initial supply sold-out within weeks. More supply has reached Amazon and today, all possible variations of the four GLUCODOWN® iced tea flavors are available for purchase at Amazon, on a permanent basis.
New GLUCODOWN® Enhanced Water Beverages
The Company did not succeed in its goal of launching its new line up of GLUCODOWN® enhanced water beverages by the end of the fiscal year 2020. The Company is aware that expectations are very high for this new product line up given the high quality of its current line-up of GLUCODOWN® iced tea beverages.
From September 2020 to the present, the Company has conducted four separate pilot-scale manufacturing trials of its new enhanced water beverages and multiple flavor and processing refinements have taken place.
As of today, the Company has perfected Watermelon, Cherry, Peach-Mango and Strawberry-Banana for commercial production. The first purchase orders for raw ingredients, in quantities for full commercial launch of GLUCODOWN® enhanced water beverages. were issued last week, with an availability date on Amazon expected to be announced before the end of the 2nd quarter.
Goal #5 - Increasing Profit: In fiscal 2020, despite many increased logistics and raw materials costs and a number of supplier disruptions, some related to the pandemic, Glucose Health, Inc. more than doubled its Gross Profit. Additionally, the Company also increased its overall gross profit margin to 36% for Fiscal 2020 vs. 28% for Fiscal 2019.
About Glucose Health, Inc. (OTC Pink: GLUC)
Introduced in the third quarter of 2018 and manufactured by Glucose Health, Inc., the GLUCODOWN® brand has come to define an entirely new and distinct nutritional supplement category - functional, diabetic friendly, beverages. By specializing in producing delicious and efficacious beverages nutritionally appropriate1 for the nation's 100+ million2 pre and Type-2 diabetics, GLUCODOWN® is uniquely and strongly positioned among all up & coming beverage companies in America. Glucose Health, Inc. is a publicly traded company with the ticker symbol OTC: GLUC.
For more GLUC news visit: www.glucosehealthinc.com
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1 For citations visit www.glucodown.com/clinical-data
2 National Diabetes Statistics Review, 2020; Centers for Disease Control and Prevention, Department of Health and Human Services
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and while Glucose Health, Inc. is not subject to the 1934 Securities and Exchange Act, contains forward-looking statements within the meaning Section 21E of the Securities and Exchange Act of 1934, as amended. Statements that are not a description of historical facts constitute forward-looking statements and may often, but not always, be identified by the use of such words as "expects," "anticipates," "intends," "estimates," "plans," "potential, "possible," "probable, "believes," "seeks," "may, "will, "should," "could" or the negative of such terms or other similar expressions. Actual results may differ materially from those set forth in this release due to the risks and uncertainties inherent in the Company's business. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement and the Company undertakes no obligation to revise or update this release to reflect events or circumstances after the date hereof.
Glucose Health, Inc.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/78990