GenTech's SINFIT Completes Closing of Acquisition of Fast-Growing Health Brand "Yourganics"
Wheat Ridge, Colorado--(Newsfile Corp. - April 5, 2021) - GenTech Holdings, Inc. (OTC Pink: GTEH) ("GenTech" or the "Company"), (www.gentechholdings.com) an emerging leader in the high-end Premium Coffee (www.secretjavas.com) and Functional Foods marketplaces, is excited to announce that its SINFIT Nutrition unit ("SINFIT") (www.sinfitnutrition.com) today closed the agreement to acquire the assets of hot emerging brand "Yourganics."
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CEO of SINFIT Nutrition, Leonard K. Armenta Jr. commented that, "Now we have completed the acquisition we can really start to build a range of Organic and Vegan Functional Food products under the banner of 'Yourganics from SINFIT' in what is an explosive growth industry at present. With our easy access the manufacturing and with a solid capital base to work from, we believe our success with 'Yourganics from SINFIT' will be on an impressive scale. This will not only be a force to be reckoned with on the Amazon™ platform, but will soon start making its way into more traditional Brick and Mortar locations as well right across the States."
The Company intends to quickly expand the range to include a 'Yourganics from SINFIT' offering that will produce everything from Organic and Vegan Seasonings through to Organic and Vegan Cookies and Protein Bars.
Armenta continued, "Our active acquisition hunt continues as we work to close more of these horizonal acquisitions that see our reach and our range expand, giving us access to huge growth in revenues throughout 2021 and beyond. Watch this space!"
GenTech Holdings, Inc, the Parent company of SINFIT Nutrition, Inc. recently released an interim report covering the period February 1st 2021 through March 31st 2021.
Note: Data presented below is unofficial and provisional and may be adjusted in future official financial reporting.
Provisional Financial Highlights for Fiscal Q2, 2021 (with one full month remaining in the quarter):
- Gross consolidated revenues currently at $110,628 after Feb and Mar monthly operations, which represents a monthly revenue run rate on pace to produce 89% sequential quarterly topline growth
- Present Accounts Receivable for SINFIT at $82,338 after Feb and Mar monthly operations, which approximately matches total from previous quarter
- SINFIT's cash-on-hand currently at $860,000 after Feb and Mar monthly operations, which represents growth of 293% on a sequential quarterly basis
Management believes SINFIT performance is poised for continued growth as tailwinds from increased marketing spend and improved operating conditions become active factors in defining the Company's operational landscape. This includes the impact of widespread COVID-19 vaccinations and reduced pandemic impact in the operation of fitness facilities, which is believed to indirectly impact demand for SINFIT products.
About GenTech Holdings, Inc.
GenTech Holdings, Inc. is a publicly traded company under the symbol GTEH. The Company launched a high-end Coffee Subscription service in early 2020 called Secret Javas and owns and operated SINFIT Nutrition, which offers a range of high-end Functional Foods.
This press release may contain forward-looking statements, including information about management's view of GenTech, Inc.'s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of GenTech, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on GenTech's future results. The forward-looking statements included in this press release are made only as of the date hereof. GenTech cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, GenTech undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by GenTech.
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