SUNSTOCK, INC. REPORTS THIRD QUARTER FY 2021 RESULTS

Rhea-AI Summary

Sunstock, Inc. (OTC: SSOK) announced its Q3 2021 financial results, revealing a 63% increase in net revenues to $4.1 million, compared to $2.5 million in Q3 2020. However, the company reported a net loss of $330,000, a decline from a $95,000 profit in the same period last year.

For the nine months ending September 30, 2021, net revenues reached $10.2 million, up 31% from $7.7 million in the prior year, but a net loss of $2.2 million was recorded versus a $2.5 million profit in 2020. CEO Jason Chang highlighted growth in foot traffic and revenue through partnerships, particularly with Apmex.

Positive

• Net revenues for Q3 2021 increased by 63% to $4.1 million.
• Net revenues for nine months ended Sept 30, 2021 rose 31% to $10.2 million.
• Increased foot traffic at Mom's Silver Shop and successful partnerships with Apmex.

Negative

• Net loss of $330,000 in Q3 2021 compared to a profit of $95,000 in Q3 2020.
• Net loss of $2.2 million for nine months ended Sept 30, 2021, down from a profit of $2.5 million in 2020.

SACRAMENTO, Calif., Dec. 01, 2021 (GLOBE NEWSWIRE) -- Sunstock, Inc. (OTC: SSOK) today announced its financial results for the third quarter ended September 30, 2021.

Key Financial Highlights:

Operating Results for the Three Months Ended September 30, 2021

• Net revenues for three months ended Sept 30, 2021 were $4.1 million, an increase of 63% from $2.5 million in the same period of 2020.
• Net loss was $330 thousand, compared to $95 thousand profit in the same period of 2020.

Operating Results for the Nine Months Ended September 30, 2021

• Net revenues for the nine months ended Sept 30, 2021 were $10.2 million, an increase of 31% from $7.7 million in the same period 2020.
• Net loss was $2.2 million, compared to $2.5 million profit in the same period of 2020.

Jason Chang, CEO of Sunstock, commented “We are pleased with our continued revenue growth as Mom’s Silver Shop is one of the leading precious metals retailers in the greater Sacramento metropolitan area and the foot traffic into the store has increased significantly. Our partnership with Apmex in which we sell their inventory in our shop with an online portal available to customers continues to be a source of increased revenue and an opportunity for us to expand our e-commerce operations. We are continuing our investments by ensuring we have sufficient inventory levels, expanding our marketing of the website and improving our accounting and overall backend infrastructure.”

About Sunstock Inc.

Sunstock Inc. is involved in the distribution of precious metals, primarily gold. The Company pursues a “ground-to-coin” strategy, whereby uses its wholesale and retail channels to sell these precious metals. Sunstock acquires mineral rights and gold mining assets, enabling shareholders to invest in the precious metals sector without incurring many of the costs and risks associated with actual mining operations. The Company sells its inventory to customers and investors through Mom’s Silver Shop, its leading precious metals retail store located in Sacramento, Calif. For more information, visit the Company’s website at www.SunstockInc.com

Forward-Looking Statements

In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company's future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company's business units or the market price of its common stock. Additional factors that could cause actual results to differ materially from those contemplated within this press release can also be found on the Company's website. The Company disclaims any responsibility to update any forward-looking statements.

Investor Relations Contact
Andrew Barwicki
516-662-9461 / andrew@barwicki.com

FAQ

What were Sunstock's Q3 2021 revenues?

Sunstock reported Q3 2021 revenues of $4.1 million, a 63% increase from the same period in 2020.

What is the net loss reported by Sunstock for Q3 2021?

Sunstock reported a net loss of $330,000 for Q3 2021.

How did Sunstock's revenues perform over nine months in 2021?

For the nine months ended September 30, 2021, Sunstock's revenues were $10.2 million, up 31% from $7.7 million in 2020.

What was Sunstock's net loss for the nine months ended September 30, 2021?

The net loss for the nine months ended September 30, 2021, was $2.2 million.

How is Sunstock growing its business?

Sunstock is experiencing revenue growth through increased foot traffic and partnerships, particularly with Apmex.