Heathrow Natural Food & Beverage, Inc. Announces Financials for First Quarter 2009
LAKE MARY, FL, May 18, 2009 (MARKETWIRE via COMTEX) -- Heathrow Natural Food & Beverage, Inc. (PINKSHEETS: HRNF) is pleased to announce its First Quarter 2009 financial results. Operating Income for the first three months ending March 31, 2009 was $127,800. General, Administrative and Other expenses for the same period was $88,128, Net Income for the same period was $39,672. Total assets as of March 31, 2009 totaled $1,030,637 of which $685,000 is the WGL Million Dollar Shootout Reality television series. Total liabilities as of March 31, 2009 totaled $924,817. The majority of the liabilities ($812,000) are monies owed related parties (officers) and convertible note debt of $100,000. However, as of today the convertible note has been paid in full, reducing our liabilities to $824,817. Details of our financial statements will be posted to www.pinksheets.com early this week.
"We have made tremendous progress in bringing financial stability to Heathrow Natural Food & Beverage, Inc. and expect accelerated growth for the remainder of 2009 and beyond. We will need to take on additional debt of approximately $500,000 to finance the manufacture and distribution of our ACAI Plus functional gum. We also expect to be debt free and supporting operations from net income by 1Q 2010," said Michael Pagnano, CEO Heathrow Natural Food & Beverage, Inc. We would also like to announce that HNFB will not be acquiring Natural Harmony Foods. After due diligence, it was thought best that we remain in the non perishable natural food sector and not take on the logistics of distributing frozen food.
About Heathrow Natural Food & Beverage, Inc.: www.heathrownfb.com -- www.incredibledrink.com
Heathrow Natural Food & Beverage, Inc. is an independent national distributor of natural food products such as Exfuze, a very popular botanical nutritional beverage and the Heathrow Natural line of Super Food Products. HNFB is based in Florida and generates revenue through online and call center sales as well as over 138 distributors nationwide. HNFB also owns WGL Entertainment, the producer of the WGL Million Dollar Shootout reality television series.
Statements contained in this news release, other than those identifying historical facts, constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual Company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.
Contact:
Heathrow Natural Food & Beverage, Inc.
1-866-754-1115
IR/PR/Events
Wyndam Group
1-954-513-7911
