HOLBROOK, N.Y., Nov. 26, 2012 /PRNewswire/ -- Northstar Global Business Services, Inc. Symbol (OTCPink: MDIN) today announced that its flagship product, Snorenz®, is already being shipped to stores, and being put on shelves. This is a full month ahead of the scheduled release, previously set for January 1st. Starting with individual pharmacies, convenience and health-food stores, the product has been in production, and is being shipped out to retail stores that have already placed orders over the past weeks.
"We are very proud of what we have accomplished. In less than a year, to be in this position is truly overwhelming," said Company CEO Nick Chieco. "I never thought we would be starting off December with accumulated orders and product being shipped. Now, product being shipped to large retail chains typically takes much longer to actually hit shelves, but customers should be able to buy Snorenz® in some stores, including independent retail locations right now,"He added enthusiastically.
The company is currently being overwhelmed with interest in the product. So much, that projections of Snorenz® sales are conservatively estimated at over twelve million units for the calendar year of 2013, nearly three times the product's best year ever. The success may have something to do with the economics, which have become much more attractive to retailers since last produced. The product is said to cost approximately only $1.47 US dollars to produce with a wholesale price of just $3.89 allowing for the two ounce bottle to retail for just $6.99, while giving retailers a whopping 79% markup. The lower pricepoint means more projected sales and deeper market penetration. Management wants to make clear that these projections are based on retailer demands, and at the moment its manufacturing capabilities would actually not be able to keep up with this level of production if not expanded immediately. For this reason the company now plans to do its own fulfillment and warehousing for product sold directly to consumers, and eventually for all independent stores as well, which it is in the process of implementing. Additionally, manufacturers are being approached in the US and abroad to increase production to match expected demand levels. Since the company's production and marketing are being ramped up with limited up front funding, the lion's share of the revenue is slated to come in the third and fourth quarters of the calendar year. Primarily this is tied to the Net 90 day terms most retail operates on. The company adds that in addition to Snorenz® it has several other products for which projected sales will be released at a later date. The company also plans to soft release several new products this year in its stem cell therapy line, so they expect projections overall to be staggering.
As for where you can buy Snorenz® right now, specific locations are not being disclosed just yet to protect these locations from spending limited resources answering calls from investors and shareholders eagerly seeking more information, but the list will be posted on the company website very soon so that consumers know where to go until the company reaches its goal of having product on the shelves of every major retail outlet in the US. Merchants interested in carrying Snorenz® are encouraged to contact the company at 1-877-571-4387 Ext 4 (Sales).
Northstar Global Business Services is a business services company with a division called "MedGen Healthcare Products", dedicated to producing alternative healthcare products. The three most popular products in Northstar's arsenal are Snorenz©, Painenz©, and "Good Night's Sleep", an FDA approved sleep aid. All products use the company's patented spray delivery system and have received very positive consumer reviews all over the world, and sold million upon 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.