COCONUT CREEK, FL--(Marketwired - August 01, 2017) - NutraFuels Inc. ("NutraFuels" or "NTFU") (OTC PINK: NTFU), today announced financial results for its fiscal 2017 second quarter ended June 30th, 2017. The Company posted quarterly revenue of $248,306 and quarterly loss per diluted share of $(0.003). These results compare to revenue of $118,215 and loss per diluted share of $(0.01) in the same quarter of last year.
Q2 2017 Sales are up 110% over Q2 2016. ($248,306 compared to $118,215).
Q2 2017 Gross Margin is up 153% over Q2 2016. ($113,154 compared to $44,821).
Q2 2017 G&A is up 49% from Q2 2016 ($235,849 compared to $157,797).
Q2 2017 Loss from Operations is up 33% from Q2 2016. ($226,661 compared to $170,077)
Q2 2017 Net Loss is down 18% from Q2 2016 ($227,286 compared to $276,829).
2017 year to date cash used by operations increased 143% from 2016 year to date.
2017 year to date cash provided by financing activities increased 256% from 2016 year to date.
New debt is down $110,000 or 100% for the six months 2017 compared to the six months 2016. The sale of stock is up $923,000 or 334% for the six months 2017 compared to the six months 2016.
Receivables up from $0 in December 31, 2016 to $220,587 in June 30, 2017.
NutraFuels converted $2,403,343 of debt at December 31, 2016 into 10,129,942 shares of common stock in the first quarter 2017 reducing its debt from convertible loans to $0
Six-month loss includes $3,958,000 of non-cash charges relating to the conversion of debt and shares issued for services.
"We are proud to report a strong June quarter, with revenue growth from the December quarter and increasing demand for our products," said Edgar Ward, NutraFuels CEO. "We've seen great customer response to our entire line of products and we're thrilled with the strong momentum of increased repeat customer business. Looking ahead, we are excited to begin the build out of our new facility giving us the ability to accommodate our next stage of growth."
About NutraFuels, Inc.
NTFU was founded in 2010, to manufacture, distribute and market a line of oral spray nutritional dietary products to consumers, retailers and wholesale outlets. Oral spray delivery systems are recognized by many as an effective methodology for delivery of pharmaceutical and nutraceutical products. Oral spray delivery is recognized by consumers for its convenience, dosage precision and timely assimilation into the body. NTFU's product line consists of vitamins and nutrients in an aqueous solution, orally delivered through a non-aerosol pump. NTFU's products are sprayed into the mouth in the form of a fine mist entering the delicate tissue of the mouth. The nutrients are delivered into the bloodstream and assimilated throughout the body more quickly than traditional methods, avoiding the solubility and absorption problems common with most ingested vitamins and nutritional supplements in pill or capsule form. For more information please visit our corporate website.
This press release contains forward-looking statements, particularly as related to, among other things, the business plans of NutraFuels, Inc statements relating to goals, plans and projections regarding the NutraFuels' financial position and business strategy. The words or phrases "would be," "will allow," "intends to," "may result," "are expected to," "will continue," "anticipates," "expects," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "think", "considers" or similar expressions are intended to identify "forward-looking statements." These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. NutraFuels cautions readers not to place undue reliance on such statements. NutraFuels does not undertake, and NutraFuels specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. Actual results may differ materially from NutraFuels' expectations and estimates.