ViaDerma, Inc. Provides Preliminary Revenue Estimates and Highlights for its Record Breaking 1st Quarter

Rhea-AI Summary

ViaDerma, Inc. (OTC Pink: VDRM) reported substantial revenue growth for Q1 2021, expecting revenues to exceed $113,000, a remarkable increase of 5000% compared to $2,133 in Q1 2020. Online retail sales contributed over $23,000, up 978% year-over-year, while a licensing agreement brought in $90,000. The company eliminated all toxic convertible debt and is now debt-free, planning to self-fund future operations. ViaDerma seeks to list on OTCQB by securing audited financials and independent directors, while focusing on institutional clients for future sales.

Positive

• Q1 2021 revenues expected to exceed $113,000, up 5000% from Q1 2020.
• Online retail sales for Q1 estimated at over $23,000, a 978% increase year-over-year.
• Generated $90,000 from a licensing agreement, a new revenue source.
• Company is now debt-free after paying off all outstanding debt.
• Plans to submit application for OTCQB listing, enhancing visibility.

Negative

• None.

The Company realized significant Q1 revenue growth due to increased online retail sales and proceeds from a licensing agreement

LOS ANGELES, April 08, 2021 (GLOBE NEWSWIRE) -- ViaDerma, Inc., (“Company”) (OTC Pink: VDRM), is pleased to provide an update of estimated sales and revenue numbers for the first quarter of 2021, as well as additional highlights of the Company’s year to date progress.

• Estimated revenues for Q1, 2021 are expected to top $113,000 compared to total revenues of only $2,133 for Q1, 2020. That represents more than 5000% growth over the same period last year.
• Revenues from online retail sales for Q1 are estimated to be more than $23,000, representing an increase of 978% over the Q1, 2020 total and more than double the Company’s total revenues for all of last year.
• Proceeds of $90,000 from a previously announced licensing agreement have accounted for the majority of this year’s Q1 revenues compared to 2020 when online retail sales accounted for 100% of all revenues.
• The Company paid off all outstanding toxic convertible debt and is now completely debt free. Additionally, ViaDerma expects to self-fund all operations from this point and does not expect to take on any future debt.
• At the request of ViaDerma, OTC Markets conducted a manual review of the Company’s “shell risk” status and as a result has removed the “shell risk” annotation from ViaDerma’s profile.
• ViaDerma intends to submit an application this year for listing to the OTCQB. To qualify for OTCQB listing the Company needs to have one-year audited financials and add two independent directors. ViaDerma is currently seeking a qualified auditing firm that is registered with the Public Company Accounting Oversight Board (PCAOB) and is conducting a search for suitable directors.

“While I am very pleased with the growth we have experienced in the first quarter, we have not yet even scratched the surface of our potential,” said Dr. Chris Otiko, ViaDerma President and CEO. “Vitastem is a great product and the results experienced by its users is likely the main reason for our increased online retail sales. However, our top priority this year is to focus on large institutions and integrated delivery networks. Our marketing reps have been working closely with several prospective institutional clients and we hope to finalize some large purchase orders in the near future.”

About ViaDerma, Inc.
ViaDerma, Inc. (OTC: VDRM) is a publicly traded specialty pharmaceutical company committed to bringing new products to market and licensing its innovative technology to current leaders in the pharmaceutical industry in a wide variety of therapeutic areas. For more information, visit: www.viadermalicensing.com

Any forecast of future performance is a "forward looking statement" under securities laws. Such statements are included to allow potential investors the opportunity to understand management’s beliefs and opinions with respect to the future so that they may use such beliefs and opinions as one factor among many in evaluating an investment.

Contact information:
Investor Relations
Email:  info@viadermalicensing.com
Phone: 310-374-6111
Follow us on Twitter: ViaDerma Official @viaderma
Like us on Facebook: ViaDerma-VDRM @viadermapharma

FAQ

What were ViaDerma's estimated revenues for Q1 2021?

ViaDerma's estimated revenues for Q1 2021 are expected to exceed $113,000.

How much did ViaDerma's online retail sales increase in Q1 2021?

ViaDerma's online retail sales increased by 978% in Q1 2021, totaling over $23,000.

What was the impact of the licensing agreement on ViaDerma's revenue?

The licensing agreement contributed $90,000 to ViaDerma's revenues for Q1 2021.

Is ViaDerma in debt?

No, ViaDerma is completely debt-free after paying off all outstanding toxic convertible debt.

What are ViaDerma's plans for OTCQB listing?

ViaDerma intends to apply for OTCQB listing by obtaining audited financials and adding two independent directors.