Life On
Earth, Inc. Reports First Quarter
Financials for Fiscal Year
2019 and Announces Conference
Call
Revenues Increased 51% from Previous
Quarter (Q4 '18) and 31%
Compared to the
Prior
Year's First Quarter (Q1
'18)
NEW YORK, NY
-- October 22,
2018 -- InvestorsHub NewsWire -- Life On Earth,
Inc. (OTCQB:
LFER) ("Life
on Earth" or the
"Company") announced today
reported results for its First Quarter
Fiscal
Year
2019, ending
August
31,
2018.
Notable
selected Company
highlights
from Q1 FY2019
included:
-
Revenues
of $1.354
Million, up
31% year over
year in the comparable
quarter;
-
Revenues
increased 51% in Q1 FY2019 vs Q4 FY2018 or $1.354 Million vs
$898K
-
Assets
increased for
Q1 by
nearly
$1.3 Million to over $3.8 Million, a 50
%
increase;
-
Total
Liabilities decreased by 10% or by $364,825
-
Settlement Debt
decreased, in the quarter, by 63% from $560,000 to
$205,000
-
Stockholders' Equity
swung from a negative ($1 Million) to a positive
$670,880. First time in the
company's history, since being a public company, to achieve a
positive shareholders' equity.
Additional
Company
Highlights for
the Q1 FY2019
included:
-
Completed
the acquisition of the Chill Group, Inc., a Los Angeles, CA-based
company and owner of the Just Chill brand;
-
Accelerated the
process of integrating the operations of all wholly-owned
subsidiaries; Energy Source, The Giant Beverage Co, Victoria's
Kitchen Brand, and the Chill Group (Just Chill).
-
Entered
into a final Settlement Agreement with TCA Global to end a
year-long litigation battle;
-
Began
preparations to roll
out the Victoria's Kitchen and Just Chill to new DSD partners in
California, New York and Upper Midwest;
-
Enhanced
its innovation, supply chain and production team by adding two
industry veterans. This will help the Company prepare for the
ramp-up of production for the Spring
season
2019.
"Our first quarter of
fiscal 2019 was a record revenue quarter but we feel the revenue
ramp is just beginning, "stated
Mr.
Fernando Oswaldo Leonzo,
Life On Earth's Chief Executive
Officer. "We are in
the final
stages of fully integrating all our subsidiaries into one efficient
operating company and we are very confident in the success of those
plans. There are several key individuals, from our industry, that
will be joining the company soon helping to enhance our Board of
Directors and C-Level Management. They will help towards an
eventual up-listing to a higher listed exchange. We were also able
to accomplish significant financial milestones in the past quarter
while paying off a significant portion of past legacy debt and
increase the shareholders' equity on our balance sheet," he
continued.
The Company will host
a conference call at 4:05 p.m. ET/1:05 p.m. PT on
October
24, 2018 to discuss the
financial results and recent business developments. To participate
in the call, please dial 1-530-881-1212,
with ID Pin Code 615-253-385.
About
Life On Earth.
Life on Earth, , a
"Make It Better" consumer based Brand Accelerator Company is a
dynamic and innovative all-natural consumables products company
focused but not limited to the beverage and snack industry.
At the
Company, we have established
a unique business model focused on building brands within the
alternative beverage and snack space. Our brand model is
complimented by our strong distribution subsidiaries in New York
and California. The growth of "game changing" marketing
applications, human capital resources and follow-on investments
will help us deliver a fully integrated platform for the emerging
and functional brand category that are
good for
our consumers as well as the environment.
Visit:
www.lifeonearthinc.com
SAFE HARBOR
ACT
Forward-Looking
Statements: This release contains statements that constitute
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These
statements appear in a number of places in this release and include
all statements that are not statements of historical fact regarding
the intent, belief or current expectations of Life on
Earth, its directors or its
officers with respect to, among other things: (i) financing plans;
(ii) trends affecting its financial condition or results of
operations; (iii) growth strategy and operating strategy.
The
words "may,"
"would," "will," "expect," "estimate," "can," "believe,"
"potential" and similar expressions and variations thereof are
intended to identify forward-looking statements. Investors are
cautioned that any such forward-looking statements including those
relating to the Company's financing being adequate for the Company
to close this acquisition, being able to place its products in the
retail stores, to launch its growth and expansion plans among
others, are not guarantees of future performance and involve risks
and uncertainties, many of which are beyond Life on Earth, Inc.'s
ability to control, and actual results may differ materially from
those projected in the forward-looking statements as a result of
various factors. No
information in this press release should be construed in any way
whatsoever as an indication of Life on Earth, Inc.'s future
revenues, financial performance or stock price. There
is no assurance that the Company will be successful in obtaining an
up-listing to a higher exchange. More
information about the potential factors that could affect the
business and financial results is and will be included in Life on
Earth's filings with the Securities and Exchange Commission at
www.sec.gov.
Investors and
Corporate
Please
Contact:
info@lifeonearthinc.com
(646) 844-
9897
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