Here is the whole release. Marketing platform is performing very well. Costs driven down and margins widen. This what we patient shareholders have been waiting for.
MT. KISCO, N.Y., July 18, 2017 (GLOBE NEWSWIRE) -- Immudyne, Inc.(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(IMMD). “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(IMMD) 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.”
