SILVER SPRING, Md., Nov. 14, 2012 /PRNewswire/ -- Sunpeaks Ventures, Inc. (OTCBB: SNPK) (PINKSHEETS: SNPK) (the "Company" or "Sunpeaks Ventures") on November 13, 2012 reported its financial results for the third quarter ended September 30, 2012:
Third Quarter Financial Details and Operating Summary
- Gross sales for the third quarter were $1.78 million. Gross sales for the year-to-date were $3.25 million. Third quarter revenue in 2012 represents a 780% increase over revenue for the same quarter in 2011, and a 45% increase over the immediately preceding second quarter of 2012.
- The Company continues to grow its pharmaceutical license base and is now licensed in 38 states.
- Operating losses, after adjusting for non-recurring expenses such as $196,880 associated with going public, and $535,980 of advertising and slotting fees, were approximately $530,000 year-to-date. The Company continues to manage its expenses as the business grows towards profitability.
Sunpeaks Ventures, Inc. and its wholly owned subsidiary Healthcare Distribution Specialists, LLC ("HDS"), is a distributor of specialty drugs and over-the-counter ("OTC") branded multivitamins to the healthcare provider market. HDS also owns and markets Clotamin®, a specialized over-the-counter multivitamin product designed for use by patients also on Warfarin®, a popular blood thinner that has a long list of known adverse drug and food interactions.
For additional information, please visit www.sunpeaksventures.com.
Contact: 888-264-4597 or email@example.com
Safe Harbor Statement
Information in this document constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast", "anticipate", "estimate", "project", "intend", "expect", "should", "believe", and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve, and are subject to known and unknown risks, uncertainties and other factors which could cause Sunpeaks Ventures' actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. The risks, uncertainties and other factors are more fully discussed in Sunpeaks Ventures' filings with the U.S. Securities and Exchange Commission. All forward-looking statements attributable to Sunpeaks Ventures herein are expressly qualified in their entirety by the above-mentioned cautionary statement. Sunpeaks Ventures disclaims any obligation to update forward-looking statements contained in this estimate, except as may be required by law.
SOURCE Sunpeaks Ventures, Inc.