SOHM, Inc. Announce Company Outlook for the Year 2021 – Shareholder Updates
SOHM, Inc. (OTC PINK:SHMN) reported a robust Q1 2021, with a 163% year-over-year revenue growth to $32,235 and a gross profit margin increase to 71%. Profitability improved by 38.85%, totaling $7,413. The company anticipates continued growth in Q2 and into the second half of the year, bolstered by new product mandates and potential acquisitions. Management has paused its share buyback to focus on these acquisitions. SOHM is also expanding into the personal care market and expects tripled revenue without acquisitions, with further increases anticipated with them.
- Q1 2021 revenue growth of 163% to $32,235.
- Gross profit margin increased to 71%.
- Profitability improved by 38.85% to $7,413.
- Plans to triple revenue growth compared to 2020.
- Expected repeat orders from prescription skin product mandates.
- Share buyback program on hold due to acquisition focus.
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
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
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.
About SOHM, Inc.
SOHM, Inc., is a growing generic pharmaceutical manufacturing and marketing company with a vision "Globalè Prospèro" that tries to build continuous growth. SOHM manufacturing and marketing targets the rapidly growing healthcare segments such as Nutraceuticals, Cosmeceuticals, and other major therapeutic segments. SOHM is headquartered in North America with manufacturing alliances in India as well as a strategic alliance with US manufacturing facilities. Although SOHM's generic pharmaceuticals were exported globally and were introduced to the USA in early 2013, SOHM continues its focus on distribution to emerging markets in Africa, Latin America, and Southeast Asia.
To know more about SOHM, Inc., visit www.SOHM.com
Safe Harbor Statement:
This news release contains "forward-looking statements", which are statements that are not purely historical and include any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs, and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations, and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations, or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on for the most recent fiscal year, our quarterly reports uploaded from time-to-time on OTCMarkets.com.
For more information, please contact:
SOHM, Inc.
714-522-6700
SOURCE: Sohm, Inc.
View source version on accesswire.com:
https://www.accesswire.com/647888/SOHM-Inc-Announce-Company-Outlook-for-the-Year-2021-Shareholder-Updates
FAQ
What were SOHM's revenue figures for Q1 2021?
What is the gross profit margin reported by SOHM for Q1 2021?
What plans does SOHM have regarding acquisitions?
How does SOHM expect its revenue to grow in 2021?
