Natural Health Farm Holdings, Inc. Reports 140% Increase in Revenues and 309% Increase in Assets in First Quarter 2019
Vegas, Nevada, May 20, 2019 (GLOBE NEWSWIRE) -- Natural Health Farm Holdings, Inc (OTCQB: NHEL) (the “Company” or “NHF Holdings”), a nutraceutical biotechnology company, is pleased to announce that the Company has reported its operating results for the three months ended March 31, 2019, through the filing of its Quarterly Report on Form 10-Q with the Securities and Exchange Commission.
Selected NHEL Financial Highlights - 1st Quarter Ended March 31, 2019
• Total Revenues (3-Months): Up 140.2% to $524,860 compared to $218,524 in 2018 • Total Revenues (6-Months): Up 266.0% to $807,041 compared to $220,523 in 2018 • Gross Profit (3-Months): Up 213.7% to $307,495, compared to $98,030 in 2018 • Gross Profit (6-Months): Up 369.8% to $467,099, compared to $99,423 in 2018 • Total Assets: Up 309.0% to $4,219,172, compared to $1,031,590 at March 31, 2018 • Cash or Equivalents: Up 185.4% to $1,255,178 compared to $439,846 at March 31, 2018
Vernon Tee, CEO of NHF Holdings, commented, “Over this past year, we have worked tirelessly to acquire and bring together several companies with the goal of building NHEL into a complete vertically integrated nutraceutical powerhouse. During the first quarter of 2019 following the audit and financial consolidation of the Prema Life deal, these strategic acquisitions have now begun to positively impact our financial statements with record revenues, gross profits, and assets.”
“In addition to the organic and synergistic growth that’s anticipated from NHEL companies in the rapidly expanding nutraceutical marketplace, we expect that our balance sheet will further strengthen as we advance, close, and financially consolidate the other significant acquisitions that we have made over the past few months.”
Mr. Tee concluded, “Going-forward, we feel that the Company is in a strong position to continue executing its global growth strategy with additional planned acquisitions and new product and service distribution channels. On behalf of the entire team, thank you for your continued support of NHEL.”
About Natural Health Farm Holdings Inc.
Natural Health Farm Holdings, Inc. (OTCQB: NHEL) is a Nevada-based fully integrated nutraceutical biotechnology company, offering products and related services (research and development, manufacturing, quality control, marketing and distribution) through healthcare practitioners and direct-to-consumers. The company now owns a research & development laboratory in Malaysia, franchisee management services company and an Australia manufacturing facility producing naturopathic and homeopathic medicines.
For further information, please visit www.nhf-holdings.com
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933, are subject to Rule 3b-6 under the Securities Exchange Act of 1934 and are subject to the safe harbors created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and other results and further events could differ materially from those anticipated in such statements. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements.