Northstar announces increase in online sales of almost four hundred percent this quarter
HOLBROOK, N.Y., Sept. 16, 2013 /PRNewswire/ -- Northstar Global Business Services, Inc. Symbol (OTCPink: MDIN), today announced that it has seen an increase in online sales approximately 400% over the previous quarter. With revenue from sales last quarter at $160,663.00, not including "deferred revenue" from distribution agreements or open purchase orders, the company feels its financial health has strengthened significantly since the last disclosure statement was released.
Northstar's CEO, Nicholas Chieco commented, "Regardless of distribution agreement terms or revenue gained through traditional wholesale channels, which sometimes cannot hit the bottom line right away, our online sales is the beating heart that will keep Northstar growing and continually showing the public that we are here to stay, and that we are slowly becoming a household name even with only moderate retail distribution." He goes on to say," It's really quite simple. We produce really good products that people want, and cannot get anywhere else. After almost four full quarters of being cash flow positive, its clear to me that no matter what challenges we may face in the future, our great products will keep us cash flow positive.
What's next for Northstar? As previously announced, the company is undergoing an extremely meticulous and exhaustive two year audit, which they will use as the stepping stone to get re-listed on the OTCBB as soon as possible, a move they hope will stabilize the company's share price and deter some of the unfair trading practices common on the non-reporting markets. Additionally, a tremendously large-scale retail rollout is in the process of being scheduled with several well-known retail chains. Recently Northstar overcame a few hurdles that caused some delays in the rollout by releasing two additional products. Not only did this move completely overcome the challenges the company faced, but also it almost doubled the initial Purchase orders from "Big Box" retail chains.
What the public does not yet know is that the company has a lot of other plans on the drawing board. Among them are the addition of several impressive executives to the board of directors, the addition of facilities and operations that have been outsourced up to this point, the release of several more products, one or more mobile applications, and several exciting joint ventures and even several possible acquisitions, are all in the works currently. As these huge leaps forward continue to take place, Northstar will keep pushing ahead to create more award winning products, and become even more profitable and popular with consumers.
Northstar Global Business Services is dedicated to producing the best alternative healthcare products to the world. The most popular product in Northstar's arsenal is Snorenz®, a patented spray for snoring relief but the varied product line includes Snorenz Night Time ™, Good Night's Sleep®, Stem-Intense, and Health Enrich for Pets™. Most of the company's products use a unique spray delivery system, or unique aquatic algae extracts, and all have received very positive consumer reviews all over the world, selling millions of units from 1996 to the present.
This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.
SOURCE Northstar Global Business Services, Inc.