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$AVRW: Avenir Wellness Solutions Reports Fourth Quarter 2023 Results
New Initiatives Showing Encouraging Results
SHERMAN OAKS, CA / ACCESSWIRE / May 17, 2024 / Avenir Wellness Solutions, Inc. (OTCQB:AVRW) ("Avenir" or the "Company"), a proprietary broad platform technology and wellness company, today announced results for the fourth fiscal quarter ended December 30, 2023.
Key financial highlights for the fourth quarter included the following:
Net revenue in the fourth quarter of 2023 increased to $1.1 million from the same period in 2022 by $0.2 million, or 11.7%, and also increased sequentially from Q3 2023 by $43 thousand, or 4.4%. Overall growth was lower than expected due to the continued delay in receiving the expected remainder of the asset sale proceeds to be used for advertising and marketing to drive sales. The quarter did, however, benefit from a new relationship with leading online and beauty subscription box retailer, FabFitFun.
Gross margin increased 407 basis points year over year in the fourth quarter of 2023 due to improved working capital management offset in part by a higher proportion of sales coming from our wholesale channel of distribution with its lower margins than our higher-margin direct-to-consumer sales channel.
Gross margin for the third quarter of 2023 decreased sequentially from the second quarter of 2023 by 26 basis points due to a shift in sales channel mix with a higher proportion of wholesale sales to Amazon and FabFitFun which resulted in shipments of approximately $0.3 million.
Cost containment initiatives led to a favorable impact on SG&A expenses (excluding non-cash charges) for the fourth quarter with a decrease of $357 thousand in 2023 compared to 2022 driven by decreased spend on advertising and promotion of $325 thousand lower overhead by $32 thousand.
Net operating loss from continuing operations (excluding non-cash charges) improved by $0.9 million in 2023.
"Our products continue to maintain sales levels which is encouraging given that we have been unable to fully execute on our marketing initiatives pending receipt of the balance of the proceeds from the July 2022 asset sale. As mentioned in our third quarter earnings announcement, the proceeds from the July 2022 asset sale allow us to invest in the future of the Company, but the delay in receiving the balance of the proceeds continued to have an impact on our operating performance. We expect accelerating sales will reaffirm the improving overall trajectory of the business. Further, our margin expansion initiatives continue to deliver results with improvement from third quarter, and we continue our overall cost containment initiatives to further reduce SG&A expenses and to maximize operating leverage.
Fine tuning our Search Engine Optimization (SEO), bringing our media buying in house and achieving successful monthly campaigns like theSkimm continue to deliver for us as we execute on our strategy to build our brands," said Nancy Duitch, Avenir CEO.
Operational Highlights
Other operational highlights during the fourth quarter of 2023 included:
Our newly formulated Seratopical Revolution Cracked Heel Souffle was selected for inclusion in FatFitFun's Summer 2024 subscription box selling out an astonishing 80,000 units in under 43 minutes. Click link to view Instagram videos on our Cracked Heel Souffle.
Our DNA Complex hero product continues to perform as our subscription based grows.
Wholesale sales led by Amazon continue to grow with all the positive product reviews.
We began development of our new TikTok shop to capitalize on the evolving digital ecommerce landscape which launched in the second quarter of 2024.
For further details, please visit our website to review our most recent Form 10-K filed on May 17, 2024 at: http://www.avenirwellness.com/sec-filings/
About Avenir Wellness Solutions, Inc.
Avenir Wellness Solutions, Inc. (OTCQB:AVRW) is a broad platform technology company that develops proprietary wellness, nutraceutical, and topical delivery systems which are integrated into our wellness and beauty products and sold directly to the consumer. The technology, which is based on (15) fifteen current patents, offers a number of unique immediate- and controlled-release delivery vehicles designed to improve product efficacy, safety, and consumer experience for a wide range of active ingredients. The Company will continue down the path of creating new technologies that is part of its incubator strategy in order to monetize its intellectual property as well as expand our product lines utilizing the technology. As a vertically integrated platform company, Avenir looks to partner or license its IP technology with wellness companies worldwide. For more information visit: http://www.avenirwellness.com.
About The Sera Labs, Inc.
Sera Labs, a wholly owned subsidiary of Avenir, is a trusted leader in the health, wellness, and beauty sectors of innovative products with cutting-edge technology. Sera Labs creates high-quality products that use science-backed, proprietary formulations. More than 25 products are sold under the brand names Seratopical™, Seratopical Revolution™, SeraLabs™, and Nutri-Strips™. Sera Labs sells its products at affordable prices, making them easily accessible on a global scale. Strategically positioned in the growth market categories of beauty, health and wellness, Sera Labs products are sold direct-to-consumer (DTC) via online website orders, including a subscribe and save option, and also sold online and in-store at major national drug, grocery chains, convenience stores, and mass retailers and on Amazon.com. For more information visit: http://www.seralabshealth.com and follow Sera Labs on Facebook, Instagram and TikTok at @seratopical as well as on X (Twitter) at @sera_labs.
Forward Looking Statement
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, which statements are subject to considerable risks and uncertainties. Forward-looking statements include all statements other than statements of historical fact contained in this press release, including statements regarding the future growth and success of our organization. We have attempted to identify forward-looking statements by using words such as "anticipate," "believe," "could," "estimate," "expected," "intend," "may," "plan," "predict," "project," "should," "will," or "would," and similar expressions or the negative of these expressions.
Forward-looking statements represent our management's current expectations and predictions about trends affecting our business and industry and are based on information available as of the time such statements are made. Although we do not make forward-looking statements unless we believe we have a reasonable basis for doing so, we cannot guarantee their accuracy or completeness. Forward-looking statements involve numerous known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements predicted, assumed or implied by the forward-looking statements. Some of the risks and uncertainties that may cause our actual results to materially differ from those expressed or implied by these forward-looking statements are described in the section entitled "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as well as in our Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission.
Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. Except as required by applicable law, we expressly disclaim any intent or obligation to update any forward-looking statements, or to update the reasons actual results could differ materially from those expressed or implied by these forward-looking statements, whether to conform such statements to actual results or changes in our expectations, or as a result of the availability of new information.
CONTACTS:
Investor Relations
Hanover International Inc.
T: (760) 564-7400
E: investor@avenirwellness.com
$BSEG Dr. Monroe Mann added as VP of Big FIlm Financing (PhD, Esq, MBA, LLM, ME, PMP)
https://www.globenewswire.com/news-release/2024/06/24/2903100/0/en/Big-Screen-Entertainment-Group-Names-Monroe-Mann-as-VP-of-Big-Film-Financing.html
$IVDN (16 million float) Sales Surge for superior, energy saving house wrap: Innovative Designs Sales Update
PITTSBURGH, PA- (NewMediaWire) - May 30, 2024 - Innovative Designs, Inc. (OTCQB: IVDN) continues its upward sales trend into the end of May 2024. Year-to-date sales have already surpassed FYE2023 by over 33% with 5 months remaining in FYE2024. The growth is attributed to a substantial increase in the number of new retailers that are now carrying the company's Insultex House Wrap®. As new energy codes are implemented across the United States, homebuilders/contractors are using Insultex House Wrap® as a convenient R-Value continuous insulation to a wall system.
Our notable growth in sales can be attributed to Built Link Solutions (Formerly Compound Construction) based in Grand Rapids, MI. Built Link Solutions is working to become the primary source for industry professionals, innovators, and stakeholders to discover, evaluate, and adopt the latest advancements in building materials, tools and technologies. Having curated a comprehensive national distribution network, they bring pioneering solutions like Insultex House Wrap® to market, propelling the evolution of the construction industry towards a future where innovation thrives, and buildings meet the needs of tomorrow. Since coming onboard, Built Link Solutions has:
Established a comprehensive national distribution network to service customers where they are when they need it.
Grown national awareness of product benefits and specifications through their dedicated sales agents and attendance at building industry trade shows across the country.
Conducted in-person sales training and online seminars to educate sales associates on Insultex House Wrap®.
Streamlined the sales process to deliver consistent and superior level service to customers of all sizes and needs.
Implemented volume pricing models and incentive discounts to meet the needs for scale and demand.
As building codes and exterior R-Value requirements are quickly evolving across the country, Built Link Solutions has proven highly proactive in contacting prospective accounts, notifying them of the cost-effective solution that our Insultex House Wrap® provides.
Randy Kimbler, Director of Business Development for Built Link Solutions, commented, "Insultex House Wrap® is gaining traction in the market as it provides a timely and effective solution. Its cost-effectiveness, innovation, and ability to address today's building challenges are driving positive feedback nationwide."
About Innovative Designs, Inc.
Innovative Designs, Inc. manufactures the Insultex® House Wrap and Arctic Armor® Line, under the "i.d.i.gear" label featuring INSULTEX®. Patented INSULTEX® is the thinnest, lightest, and warmest insulator in the market today. For more information, please visit:
http://www.idigear.comorhttp://www.insultexhousewrap.com.
Disclaimer
Certain statements in this press release constitute "forward-looking" statements as defined by federal law. Such statements are based on assumptions, but there is no assurance that actual outcomes will not be materially different as those implied. Any such statements are made in reliance on the "Safe Harbor" protections provided under the Private Securities Reform Act of 1995 and are subject to various factors, including the risks and matters discussed in the Company's SEC filings available athttp://www.sec.gov.
CONTACT:
Innovative Designs, Inc.
Joseph Riccelli, CEO
412-799-0350
joer@idigear.com
http://www.insultexhousewrap.com
Built Link Solutions
Randy Kimbler, Dir. Business Development
616-443-3200
RandyK@Builtlinksolutions.com
News Source: Innovative Designs Inc
$ACGX is a true value play on the OTC: Alliance Creative Group (ACGX) Releases Q1 2024 Financial and Disclosure Report with an 88% increase in Net Income from Q1 2023 to Q1 2024
West Devon Property listed for sale at $3.950,000 with a 7.97% Cap Rate
CHICAGO, May 15, 2024 /PRNewswire/ -- Alliance Creative Group, Inc., (http://www.ACGX.us) (Stock Symbol OTC: ACGX) is pleased to announce the results of Operations for the Quarter Ending March 31, 2024.
Revenues for the Quarter ending March 31, 2024 ("Q1 2024") were $217,916 Gross Profits for the Quarter ending March 31, 2024 ("Q1 2024") were $217,916 Net Income for the Quarter ending March 31, 2024 ("Q1 2024") were $142,330
The total assets on the Balance Sheet for the Alliance Creative Group as of 3/31/24 were $4,531,689
The total outstanding common shares as of March 31, 2024 were 4,454,211 with 2,799,023 of those shares in the float - Same as the end of the third quarter.
The Company ended the quarter with $156,554 Cash on hand.
The property located at 1324 W. Devon Ave, Chicago, IL. 60660 has been listed for sale at $3,950,000 ($246,975 per Unit) with a 7.97% Cap Rate - Link below:
https://www.loopnet.com/Listing/1324-W-Devon-Ave-Chicago-IL/31610262/
The full financial statement, balance sheet, statement of operations, cash flow statement, and disclosure statements are posted on the OTC Market Company website at www.OTCmarkets.com under the stock symbol ACGX in the section for filings and disclosure and on www.ACGX,us in the investor relations section.
Paul Sorkin, CEO of the Alliance Creative Group, Inc. said, "This quarter was a continuation of keeping our expenses as low as possible while we attempt to sell the 1324 W. Devon property and look for the next best strategic investment, acquisition, or partnership to continue to grow our positive cashflow and position ourselves for potentially larger opportunities.
PeopleVine had another strong quarter and we are engaging in multiple conversations to determine the best next steps for us.
Overall we are in search of a potential strategic acquisition or project that can leverage our foundation to grow and scale faster than on their own. We will continue to update the public as things progress and will share more details as they become available."
About Alliance Creative Group, Inc.
Alliance Creative Group, Inc. (Stock Symbol: ACGX) is a Parent Holding Company on the OTC market. The strategy ACG intends to deploy is a shared resource model where internal divisions, portfolio companies, Real Estate projects, and strategic investments are vertically integrated, optimizing efficiencies and cost savings. Resources may be applied to a mix of early-stage equity investments in companies that synergize with the company's shared resource model and secured investment opportunities. ACG's strategic mission is to utilize a unique blend of capital, relationships, experience, and secured investment structures to increase value for its clients, partners, investors, and shareholders while reducing the overall risk. The company's big picture long term plan is to create an ecosystem of shared resources that can provide quality resources with reduced expenses while acting as a partner for internal projects. The intent is to have multiple businesses and investment projects or divisions to help diversify the risk and generate potential revenue in multiple ways while leveraging both the private and public markets. For more information, visit www.AllianceCreativeGroup.com or www.ACGX.us.
About PeopleVine
PeopleVine is a Software as a Service (SAAS) company that specializes in serving the Lifestyle Hospitality industry. The Member Experience & CRM Software allows luxury hotels, resorts, and private member clubs to elevate a more personalized online membership experience. PeopleVine helps their clients build member communities, drive engagement, and connect the dots that elevate experiences and revenues. The software empowers its clients teams to deliver efficiently managed operations through an integrated platform. PeopleVine is committed to being the most essential and adaptive SaaS engagement platform for companies that take a customer centric approach to business.
For more information www.PeopleVine.com
About Say Less Spritz
Say Less Spritz is a low ABV premium light wine in a can. Say Less blends a carefully sourced selection of West Coast rosé and wine varietals with sparkling water and real fruit juice to create a single serving ready to drink (RTD) wine in a can. The Award winning Products come in 6 flavors: Classic Rosé Spritz, Pineapple Rosé Spritz, Watermelon Rosé Spritz, Pinot Noir, Chardonnay, and Sauvignon Blanc. All products are 100 calories or less, 5 grams of sugar or less, and contain all natural ingredients. The rosé collection is sweetened with monk fruit to provide a cleaner and more enjoyable drinking experience without compromising on taste or quality. Currently, Products can be found in over a dozen states and in over 1,000 stores. Some retailers include: HEB, Jewel Osco, Meijer, Liquor Barn, and lots more, as well as GoPuff and SpiritHub online. Product can also be found in iconic venues such as Wrigley Field, The Grand Ol' Opry, and The Philadelphia Zoo, where the brand continues to captivate wine enthusiasts who are looking for a refreshing and convenient beverage choice.
This news release contains forward-looking statements as defined by the bespeaks-caution doctrine. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks described in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements that may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
For more info: www.SayLessSpritz.com
Investor Relations and Media Contact
1-312-498-9769; info@ACGemail.com
Cision View original content:https://www.prnewswire.com/news-releases/alliance-creative-group-acgx-releases-q1-2024-financial-and-disclosure-report-with-an-88-increase-in-net-income-from-q1-2023-to-q1-2024-302146296.html
SOURCE Alliance Creative Group, Inc.
$TLIF news over weekend
Greene Concepts and Tocca Life Holdings Prominently Featured in National Broadcast Video
https://www.newsfilecorp.com/release/212080
A Multi Year Mining Opportunity!
https://brixtonmetals.com/
PlantX 0.7600 -0.4900 (-39.20%) CNSX
It seems like the problems for the company continues,
the weak position with a 40% drop today is not good.
Fuse is Lit for Junior Miners, Next Target is US$2,500
$RDAR Launching a new YouTube channel.
$RDAR Will also be launching a new YouTube channel . We will be creating a show called “on the RAADR” which will feature our RAADR team catching online predators , confronting bullies at schools across the country and interviewing athletes and celebrities about online bullying !
— RAADR.com (@raadr_) June 4, 2024
$CBDW Conversational AI Merchandising Technology
https://www.tradingview.com/chart/CBDW/onaKUC5d-CBDW-wedge-pattern-looks-ready-to-breakout/
$NVOS 👀👀 8k & PR from EOD yesterday
Novo Integrated Sciences and RC Consulting Consortium Group Amend $70,000,000 Promissory Note
https://www.otcmarkets.com/filing/html?id=17592431&guid=YvQ-kFN_K2izlLh
It appears imho that next week will be $AHRO's. If so any price in the triple 000 range will reap a nice return imho
$NVOS looking great here...Loading...
$NVOS on fire here with $70 mil funding update!
Troilus Gold HOT NOW - see recent news;
https://investorshub.advfn.com/Troilus-Gold-Corp-CHXMF-12898
Yes, that was from last week... Just updated today that is what they see today, but they see that today is the problem like the other times... will blow over quick if they are done IMO... No PM right now... JMO and GLTA
$GTVH
Golden Triangle Ventures, Inc. Announces Strategic Agreement with T&K Zarro, LLC to Strengthen Capital Structure and Drive Shareholder Value
https://www.otcmarkets.com/stock/GTVH/news/story?e&id=2873107
Lots of $RDAR chatter picking up here…
https://x.com/crossstocks/status/1794085570827657549?s=46&t=XqB5zh59gkZRCqfPE1hx3Q
$GTVH lots brewing here, looks ready to go Big from here especially if Steff is done with the selling and reworks debt….
This is big news for us as we now have the first of our 4 pillar business model incoming for $GTVH - Our next *immediate* focus is to address our capital debt structure with TK Zarro and finalize this opportunity. https://t.co/QPgMejPzkO
— Steffan Dalsgaard (@SteffD415) May 24, 2024
$GTVH making some nice moves there holding gains and pushing higher :)
$TNBI
0.0400
Pink Current, AS: 300M, OS: 21M, US: 5.7M
Officer(s) Added:
+Jeff Quick, General Counsel
+Danial Boutcher, Head of IR
Chart, OTC Profile, Twitter, @otcupdates
$MDCE plus 500 mil OS reduction!
🚨 Exciting News for Investors 🚨 We’re thrilled to announce that MDCE has taking a major step to enhance shareholder value. Our company is initiating a process to reduce the outstanding share count by 500,000,000 shares. Thank you for your support and more news to come. $MDCE… pic.twitter.com/Vx1wutqzgk
— Infinite Auctions (@bidsellconsign) April 25, 2024
$MDCE this is one to play close attention too. Been lots of great things coming up for auction.
A $20,000,000 Michael Jordan Jersey exists that has it’s value concealed in an untold story. There’s no one better at memorabilia research than Marshall Perkins, CEO of Real Game Used (RGU). The genius of expert research is about the work NOT brands and media manipulation… More… pic.twitter.com/wdUt9BkTu7
— Infinite Auctions (@bidsellconsign) April 23, 2024
$MOON interesting
Antonio Brown jumping on $MOON
— Frank_Benedetto (@FrankieBstock) May 27, 2024
If the celebrity endorsements are the way Moon is doing this it should do very, very well. 🚀 https://t.co/GK878cbESZ
$STRH SS Updated….. looks pretty sweet at this pps and potential….
Outstanding Shares
243,573,782
05/27/2024
Restricted
141,502,683
05/27/2024
Unrestricted
102,071,099
05/27/2024
Held at DTC
87,752,874
05/27/2024
$MONI Looking for more developments and pps recovery!
$SPZI been very active here. Big things to come over next couple quarters from the look of it.
$SPZI JP3E Power Engineering Corporation (PEC), a subsidiary of JP 3E Holdings, Inc. (OTC: SPZI), Announces Joint Venture with Bloxcross.https://t.co/7tFDUnnGd3
— Spooz (@SpoozInc) May 22, 2024
$RDAR
$RDAR attn shareholders we are preparing our #news. Please keep your eyes here as we will be updating everyone within the next few weeks
— RAADR.com (@raadr_) May 24, 2024
$MDCE I’d put on high alert for watch lists. Company been getting active and volume picking up….
📣PRESS RELEASE! Infinite Auctions Secures Incredible Multi-Million Dollar Memorabilia Collections! More news and Updates to come! #auctionnews #sportsauctions #sportsmemorabilia #sportscollectibles #musicmemorabilia #americana #mdce $MDCE https://t.co/mXtdCvN0Va
— Infinite Auctions (@bidsellconsign) May 22, 2024
$NVOS they get that 57 mil funding and this thing can run big time imo!
$TLIF looks thin and ready for a breakout anytime.
$STRH too good to be held down here much longer!
$1.1 mil in assets. Growing Revenues. Looks like over next 12 months could see huge revenue increase….
“…we are in an aggressive growth stage with a goal to become the coffee of choice nationwide.”
— Cafe Domino is set to begin distribution in New York, New Jersey, and Connecticut in the fourth quarter of 2024
—Cafe Domino has gained new distribution in several major grocery retailers across Florida, with a presence in nearly 100 locations.
— With goals to expand to an additional 120 supermarkets within the next 12 months, Cafe Domino is under negotiation to open a flagship cafe located in Miami's Little Havana, the capital of espresso in the USA.
— The company just added four SKUs of bagged coffee: 10oz, 14oz, 2-pound bags, and Frack packs to be carried in select stores.
“In just three short years, the brand has secured over 350 accounts including boutiques, grocery retail, and large restaurant chains. Cafe Domino's sales have increased over the last quarter, reflecting its strong market presence and growing consumer demand," Pino Impagliazzo added.”
$RDAR looked like seller was done last week. Let’s see it build back some steam!
$NSAV +18.1%, 0.0124/share, $425K volume
$CORZR -8.0%, 0.92/share, $389K volume
$PWDY +73.91%, 0.004/share, $187K volume
$USCTD -99.49%, 0.57/share, $154K volume
$SPZI +1.22%, 0.0083/share, $153K volume
$GWBK -44.33%, 0.0501/share, $129K volume
$AABB -5.1%, 0.01675/share, $121K volume
$HMBL 0.0%, 0.0006/share, $113K volume
$GTVH -13.33%, 0.0013/share, $107K volume
$SMCE -10.34%, 0.0013/share, $105K volume
$FSRN +4.04%, 0.0593/share, $1.2M volume
$DPLS -41.86%, 0.0025/share, $610K volume
$GGEI +16.82%, 0.01729/share, $461K volume
$IGPK -18.89%, 0.0073/share, $380K volume
$ISUN -26.17%, 0.0812/share, $111K volume
$RRTS -17.65%, 1.12/share, $78K volume
$ILUS +6.94%, 0.009625/share, $72K volume
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