Tuesday, March 03, 2015 7:35:20 AM
PALM CITY, FL -- (Marketwired) -- 03/03/15 -- GelStat Corporation (OTC PINK: GSAC) (News), a fully integrated consumer healthcare company engaged in the development, marketing, branding and manufacturing of innovative over-the-counter (OTC) consumer healthcare products, reports preliminary fourth quarter revenue and provides a shareholder update. The Company will report its comprehensive financial results for the fourth quarter and year ended December 31, 2014 on or before March 31, 2015.
GelStat Corporation generated consolidated revenue in excess of $750,000 for the fourth quarter and $1.3 million for the full year ended December 31, 2014 led by its wholly owned subsidiary Mastix Medica. Moving into 2015 we expect growth to continue and revenues to be in the $4.5 to $5.5 million range.
Larry Gershman, GelStat's CEO, said, "The fourth quarter of 2014 was another exceptional quarter for GelStat as we achieved 50% sequential revenue growth. More importantly we made significant progress on numerous fronts relating to our Cannabidiol Rich Hemp Oil (CBD) oil and CBD infused consumer products initiatives. We are now very well positioned to become a completely vertically integrated company focused on no THC, high CBD consumer products. By the end of 2015 we expect to be growing our own hemp and processing the hemp into CBD oil for sale and use in our proprietary products. By owning the entire supply chain, we can better manage quality and costs. The objective is to become the premier supplier of high quality CBD oil and consumer-friendly CBD products. Furthermore, we are very encouraged by preliminary data on the positive effect CBD has on inflammation and we expect to release more on these findings in the near future."
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