Tag Archive for: CBD tinctures

NutraLife Biosciences, Inc. (OTCQB: NLBS) Provides Shareholder Update

NutraLife Biosciences, Inc. (the “Company” or “NutraLife”) (OTCQB: NLBS) is pleased to announce revenue growth of approximately 107.3% in 2018, the filing of its revenue growth of approximately 107.3% in 2018, the filing of its Annual Report on Form 10-K and audited financial results. Highlights from the Company’s financial results reported in its Form 10-K for the year ended December 31, 2018 include:

  • Sales increased to $3,711,327 for the year ended December 31, 2018 compared to $1,790,168 for the year ended December 31, 2017, an increase of approximately 107.3%.
  • Cost of sales was $2,211,039 compared to $1,055,042 for the years ended December 31, 2018 and 2017, respectively, or a 109.6% increase.
  • Net Loss decreased approximately 91.3% to $2,074,537 in the year ended December 31, 2018 from $23,629,117 in 2017.
  • Gross margin for the year ended December 31, 2018 was $1,500,288, a 104.1% increase over the year ended December 31, 2017.
  • Sales of CBD products increased from approximately $1,380,000 for the year ended December 31, 2017 to $2,400,000 for the year ended December 31, 2018 representing 77% and 78% of our revenues for such periods.

“We are pleased to announce our audited financial statements with improved quarter-to-quarter and annual growth as our revenue grew to $3,711,327 for the year ended December 31, 2018, an increase of approximately 107.3% over 2017. We look forward to continued growth and new opportunities in the Nutraceutical, CBD and Life Sciences markets as we enter the second quarter of 2019.,” said Edgar Ward, CEO and Founder of NutraLife.

2018 Operational Overview

NutraLife’s manufacturing facility has been registered with the Food and Drug Administration and its manufacturing facility has operated in accordance with the Good Manufacturing Processes Standard (GMP) for more than five years. The Company’s products are tested by its in-house laboratory chemists for strength, purity and contaminants such as heavy metals, pesticides, and solvents. The Company offers thirteen (13) different core formulations which it modifies to meet the specifications of its private label customers. NutraLife BioSciences provides approximately 50 different variations of its core formulations. The Company’s private label products include CBD-infused oral sprays, tinctures, pet drops, pain balms, and face creams, and nutraceutical oral spray products for sleep support and weight loss packaged under the customer’s brand names.

New Facility

In April 2017, the Company secured a 20,000 square foot manufacturing facility, which is being custom built to accommodate high-speed high capacity manufacturing of the Company’s products. The Company expects the build-out to be complete and production to begin this summer. The facility will provide more than 9,000 square feet of manufacturing with a total of 17,000 square feet of processing space to meet the increased demand for the Company’s products and services.

Subsidiaries

The Company recently established its wholly owned subsidiaries which are now engaged in operations:

  • Precision Analytic Testing, LLC, a Florida limited liability company (“PAT”) formed on May 11, 2017
  • NutraDerma Technologies, Inc, (“NutraDerma”) a Florida corporation formed on January 28, 2019
  • PhytoChem Technologies, Inc., a Florida corporation (“PhytoChem”) formed on February 4, 2019

Recent Developments

In November of 2018, PAT began providing bulk material analytical, identity, potency and purity testing of raw industrial hemp.

In December of 2018, the U.S. Food and Drug Administration completed an evaluation of three generally recognized as safe (GRAS) notices for hemp seed derived food ingredients. The FDA stated that hulled hemp seed (GRN765), hemp seed protein powder (GRN771), and hemp seed oil (GRN778) are GRAS under their intended conditions of use. Our CBD products are made from seeds and mature stalks of hemp and contain only trace amounts of THC, we believe they qualify as GRAS products.

In January of 2019, NutraDerma acquired the patent for a natural dermal skin patch that is designed to prevent mosquito and other insect bites.  We recently secured manufacturing through a third party and we expect to launch the product in time for the 2019 mosquito season. We have secured production and are in the process of conducting a research study for efficacy. We are also exploring international distribution of the product.

In April of 2019, the Company completed development of its PCR Derma Patch. The PCR Derma Patch delivers 40 mg of Phytocannabinoid rich hemp extract that can last up to four days.

In March of 2019, the Company licensed its technology for a unique system for pharmaceutical grade delivery of testosterone into the human body to a licensed pharmacist, Orlando Pharmacy. The Company expects the first pharmaceutical products using its technology to be available within 30 days.

In March of 2019, we received two licenses from the Wisconsin Department of Agriculture to grow and process industrial hemp within the state. The Company plans to develop efficient, cost reducing growing systems and techniques along with processing technologies for industrial hemp and other botanicals.

In January, the Company completed development of its branded Micro Twist Shots. The products will be sold under the Company’s NutraHempCBD brand. The Company plans to launch the products before the end of April 2019. Micro Twist Shots provide a single dose of the Company’s 5 signature daily health and wellness formulations that include CBD.

Future Strategy

We intend to grow our business by pursuing the following strategies:

  • We plan to continue to brand ourselves as a High-Quality GMP Compliant manufacturer of industrial hemp derived CBD products. Many manufacturers of CBD based products do not operate in compliance with GMP standards. All of our CBD products are tested at multiple stages of the production process to ensure product quality and a THC content of less than 0.3%.
  • We will seek to increase sales to our existing customers by offering additional products. Certain customers of ours began their relationship with us by purchasing only one of our products. Since these initial purchases, we have been able to expand our sales to such customers by offering multiple newly developed high-quality effective products. This strategy has enabled us to expand our product lines and sales to our new and existing customers. Our range of products enables us to pursue many cross-selling opportunities.
  • We seek to increase sales to customers by offering products in categories outside of our traditional product offerings. For example, in November of 2018, through our wholly owned subsidiary PAT, we began providing bulk material analytical, identity, potency and purity testing of raw hemp. In the first quarter of 2019, we took the first steps to commercialize a patented all natural dermal skin patch that prevents mosquito and other insect bites. Through our wholly owned subsidiary PhytoChem, we plan to provide hemp cultivation and raw bulk material extraction and processing starting with our licenses in the state of Wisconsin.
  • We plan to leverage our sales, reputation for quality all natural products to expand our customer base to other private label customers within the life sciences, CBD and Nutraceutical markets.

The financial information contained in this press release is qualified in its entirety by the audited financial statements and financial statement notes included in the Company’s Form 10-K for the year ended December 31, 2018, filed with the Securities & Exchange Commission on April 2, 2019.

Forward-Looking Statements

This press release contains statements of a forward-looking nature. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “future” or other similar expressions. NutraLife BioSciences, Inc. (“NLBS” or the “Company”) has based these forward-looking statements largely on the Company’s current expectations and projections about future events and financial trends that the Company believes may affect Company’s financial condition, results of operations, business strategy and financial needs. There is no assurance that the Company’s current expectations and projections are accurate. All forward-looking statements in this press release are based on information available to the Company on the date hereof. These statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results to differ materially from those implied by the forward-looking statements. More detailed information about these risk factors are set forth in the Company’s filings with the Securities and Exchange Commission, including, but not limited to, those risks and uncertainties listed in the Section entitled “Risk Factors,” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 filed with the Securities and Exchange Commission on April 2, 2019. The Company operates in a rapidly evolving environment. New risk factors emerge from time to time, and it is impossible for the Company’s management to predict all risk factors, nor can the Company assess the impact of all factors on Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ from those contained in any forward-looking statements. The Company does not undertake any obligation to update or revise the forward-looking statements except as required under applicable law.

Contact:

NutraLife BioSciences, Inc.

6601 Lyons Road, Suite L-6

Coconut Creek, FL  33073

Telephone 888-509-8901

www.NutraLifeBioSciences.com

NutraFuels, Inc. (NTFU), Announces Third Quarter 2018 Results

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NutraFuels, Inc. (NTFU), Announces Third Quarter 2018 Results

COCONUT CREEK, Fla., Nov. 14, 2018 (GLOBE NEWSWIRE) — NutraFuels, Inc. (“NTFU” or the “Company”), a manufacturer and distributor of CBD and nutritional spray products and tinctures, announces its financial results for the three (3) and nine (9) month period ended September 30, 2018 with revenue of $1,062,146 and $2,870,462 respectively compared to $652,385 and $1,027,727 for the three (3) and nine (9) month period ended September 30, 2017.

NUTRAFUELS, INC.
Condensed Consolidated Statements of Operations
(Unaudited)

For the Three Months Ended For the Nine Months Ended
September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017
Revenue $ 1,062,146 $ 652,385 $ 2,870,462 $ 1,029,727
Cost of sales   775,191   334,699   1,503,468   617,958
Gross Profit 286,955 317,686 1,366,994 411,769
OPERATING EXPENSES:
Sales, advertising and promotion 139,890 266 178,064 51,151
Officer salaries 87,000 25,000 239,000 221,330
Noncash compensation 183,453 8,493,180 1,167,290 19,134,686
General and administrative expenses 547,956 308,226 1,190,180 815,035
Depreciation expense   10,824   17,622   96,852   50,841
Total operating expenses   969,123   8,844,294   2,871,386   20,273,043
LOSS FROM OPERATIONS (682,168 ) (8,526,608 ) (1,504,392 ) (19,861,274 )
OTHER INCOME AND (EXPENSE)
Other income 8,928 12,537
Other expense (10,407 ) (10,407 )
Gain on settlement of debt 717
Induced debt conversion loss (18,004 ) (3,117,125 )
Finance costs (24,030 )   (24,030 )
Interest expense   (9,450 )   (583 )   (9,937 )   (224,530 )
Total other income (expense)   (34,959 )   (583 )   (49,841 )   (3,340,677 )
Net loss before income taxes (717,127 ) (8,527,191 ) (1,554,233 ) (23,202,212 )
Income tax expense   –   –   –   –
Net loss $     (717,127 ) $   (8,527,191 ) $     (1,554,233 ) $   (23,202,212 )
Loss per weighted average common
share – basic and diluted $ (0.01 ) $ (0.12 ) $ (0.02 ) $ (0.33 )
Number of weighted average common
shares outstanding – basic and diluted 88,635,101 73,403,796 85,997,383 70,266,530

NUTRAFUELS, INC.
Condensed Consolidated Balance Sheets

 

 

ASSETS September 30, 2018 December 31, 2017
(Unaudited)
CURRENT ASSETS
Cash and cash equivalents $ 210,190 $ 172,948
Accounts receivable, net 20,537
Inventory 429,605 162,194
Prepaid expenses and other current assets 164,856 332,460
Total current assets 825,188 667,602
PROPERTY AND EQUIPMENT
Furniture, fixtures and equipment 1,251,293 425,005
Leasehold improvements 422,105 154,842
Total property and equipment 1,673,398 579,847
Less accumulated depreciation (390,168 ) (293,317 )
Property and equipment, net 1,283,230 286,530
Total Assets $ 2,108,418 $ 954,132
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payable $ 292,401 $ 87,504
Accrued expenses 421,602 206,105
Customer deposits 202,832
Current portion of capital leases 959
Liability for shares to be issued 74,637
Total current liabilities 992,431 293,609
LIABILITIES
Capital leases, net of current portion 18,220
Convertible note, net of unamortized discount of $299,495 and $0 80,504
Total liabilities 1,091,155 293,609
STOCKHOLDERS’ EQUITY
Preferred stock, $0.0001 par value, authorized 10,000 shares; 1,000 shares issued and outstanding
Common stock, $0.0001 par value, authorized 499,990,000 shares; 90,067,069 and 81,448,561 issued and outstanding shares 9,007 8,144
Additional paid-in capital 35,321,409 33,411,300
Accumulated deficit (34,313,153 ) (32,758,921 )
Total stockholders’ equity 1,017,263 660,523
Total Liabilities and Stockholders’ Equity $ 2,108,418 $ 954,132

Forward Looking Statements

This press release contains statements of a forward-looking nature. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by words or phrases such as “may,” “will,” “except,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “future” or other similar expressions. NutraFuels, Inc. (“NTFU” or the “Company”) has based these forward-looking statements largely on the Company’s current expectations and projections about future events and financial trends that the Company believes may affect Company’s financial condition, results of operations, business strategy and financial needs. There is no assurance that Company’s current expectations and projections are accurate. All forward-looking statements in this press release are based on information available to the Company on the date hereof. These statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results to differ materially from those implied by the forward-looking statements. More detailed information about these risk factors are set forth in the Company’s filings with the Securities and Exchange Commission, including, but not limited to, those risks and uncertainties listed in the Section entitled “Risk Factors,” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 filed with the Securities and Exchange Commission on April 17, 2018. The Company operates in a rapidly evolving environment. New risk factors emerge from time to time, and it is impossible for the Company’s management to predict all risk factors, nor can the Company assess the impact of all factors on Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ from those contained in any forward-looking statement. The Company does not undertake any obligation to update or revise the forward-looking statements except as required under applicable law.

NutraFuels (NTFU) Now a Fully Reporting Company in the CBD & Nutraceutical Markets

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NutraFuels (NTFU) Now a Fully Reporting Company in the CBD & Nutraceutical Markets

COCONUT CREEK, FL, March 15, 2018 (GLOBE NEWSWIRE) — NutraFuels Inc. (“NutraFuels” or “NTFU”), (OTC Markets OTCQB: NTFU), a producer and manufacturer of Cannabidiol (CBD) and other non-CBD nutraceutical products, is pleased to announce that it has cleared SEC Comments on its Form 10 Registration Statement with the U.S. Securities and Exchange Commission (SEC). This is an important step in helping the Company to raise the necessary capital to fund its projects and expand its operations, as well as provide more transparent and reliable information to investors.

On March 2nd the Company upgraded its trading tier with OTC Markets to the OTCQB. Upgrading to the OTCQB is an efficient way to raise the Company’s profile among the investor and broker dealer communities, access greater liquidity, and trade on a recognized market, removing many of the trading restrictions placed on OTC Pink securities. The Company’s Registration Statement on Form 10 provides investors detailed information about the Company’s management, operations, including an overview of its products, business strategies, risk factors and audited financial statements.

Additionally, the Company is happy to report that demand for the Company’s products is increasing, including its metered dosing Blast Cap and Nutritional Drinking Straw delivery systems that support daily health and wellness uses. Michael Anderson, the Company’s chief scientific advisor and product developer, holds patents to these technologies which have been licensed to the Company. The Company recently upgraded manufacturing equipment at its current facility in Coconut Creek, Florida. The Company’s second manufacturing facility is now under construction, in Deerfield Beach, Florida.

The Company also recently secured several customer orders for its existing CBD tinctures and CBD daily health and wellness oral sprays designed to support Energy & Focus, Sleep, Anti-Stress, Weight-Loss and Pain Relief.

“Taking steps to become a fully reporting company is yet another way that we are distinguishing ourselves from most of the marijuana and CBD public companies that report under the Alternative Reporting Standards on the OTC Pink market or go public through reverse mergers,” said Edgar Ward the CEO of NTFU. “Our Form 10 Registration Statements and ongoing SEC reporting disclosures through audited annual financial statements, auditor reviewed quarterly financial statements and all material events will provide additional transparency to our shareholders and the investment community. We are also very excited with our business development progress as described above pertaining to our existing and new products that are being developed. We are also pleased to be expanding our operations to accommodate what we believe will have market appeal based on our technology and the efficacy of our products.”

Caution Concerning Forward Looking Statements

The SEC encourages companies to disclose forward-looking information so that investors can better understand a company’s future prospects and make informed investment decisions. The information on this website contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements often include words such as “anticipates,” “estimates,” “expects,” “projects,” “intends,” “plans,” “believes” and words and terms of similar substance in connection with discussions of future operating or financial performance.

The Company’s forward-looking statements are based on management’s current expectations and assumptions regarding the Company’s business and performance, the economy and other future conditions and forecasts of future events, circumstances and results. As with any projection or forecast, forward-looking statements are inherently susceptible to uncertainty and changes in circumstances. The Company’s actual results may vary materially from those expressed or implied in its forward-looking statements. Important factors that could cause the Company’s actual results to differ materially from those in its forward-looking statements include government regulation, economic, strategic, political and social conditions and the risk factors set forth in the Company’s Form 10 Registration Statement which can be viewed at https://www.sec.gov/Archives/edgar/data/1563463/000151116418000111/nutrafuels2-20.htm

Information for the “Educated” Investor

Although there are no guarantees about the stock market or NutraFuels, Inc.’s common shares, before you invest in any security, you can help protect yourself by being an educated investor. If you are interested in NutraFuels, Inc’s common shares, we recommend that, at a minimum, you read the Company’s Form 10 Registration Statement and future filings with the Securities & Exchange Commission including its  10-K, 10-Q and 8-K’s. It is also advisable to learn more about NutraFuels, Inc. and its industry through a variety of public materials. The Company’s filings with the SEC are available at: http://www.sec.gov.