CHINO HILLS, CA / ACCESSWIRE / May 18, 2021 / SOHM, Inc. (OTC PINK:SHMN), a generic pharmaceutical, nutraceutical, and cosmeceutical company that manufactures and markets generic drugs covering numerous treatment categories, announced today its outlook for the year 2021.
Mr. Baron Night, CEO, announced today that the company management is very happy with the performance of Q1 financials. YoY revenue growth is 163% to$ 32,235, Gross profit has increased to 71% and profitability has increased 38.85% and YOY is $7413. The company continues to expect continuous growth during the Q2 and second half of the year with executing our previously announced orders.
The company has previously announced that it has received a mandate for prescription skin product orders and is in process of developing and subsequently delivering it to buyers. These products are expected to give the company regular repeat orders throughout the year.
The company has been in discussion and negotiation with the pharmaceutical acquisition as announced recently and hence it has put hold on its "Share Buy Back" as previously announced. The company plans to utilize the resources for the acquisition as well as for operation and development. Also, during the year 2020, due to a totally unforeseen expected year, the company decided to introduce some of its personal care products and work to capitalize on this market space. The personal care market is to surpass the $128-Billion-dollar Revenue mark by 2030. The company management will take appropriate decisions in planning proper allocation and action over the course of time.
The management anticipates revenue growth of almost three-fold compared to the year 2020 without acquisition and with acquisition these numbers are going to be significantly upwards and so the profitability.
The operation and revenue growth are our prime focus and our team is relentlessly working to open new business accounts with retail chain stores, B2B opportunities and B2C segments.
The company is counting on its newly introduced CBD focused products in coming months and years and will be introducing various topical products with CBD and without CBD.
In line with our company vision Globalè Prospèro 2024, the company is also working to introduce some new OTC products, cosmeceutical and skin care products of its own along with private label opportunities.
The company is in advanced negotiations with a couple of companies to have distribution agreements and if it goes through, the company will announce and update its shareholders.
The company is still working and generating revenues with its B2B private label prescription product customers in conjunction with its Business to Consumer segments.
Mr. Night, CEO, has further stated that the company management has no plans to conduct any reverse split of shares as announced in January of 2018.
The company has not issued any shares to anyone including promoters, officers, directors, and/or employees in the last several years. SOHM also has not retired any financial notes through the issuance of any shares in the year 2019/2020 and to date during the current year. The company issued totaling approx. 27.7 million shares restricted shares in the fourth quarter of 2019 and the second quarter of 2020 for attorney services.
The company and management will honor all previously announced commitments made to all stakeholders, Mr. Night added.
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SOURCE: Sohm, Inc.
05/18/2021 EQS Newswire / EQS Group AG