MIAMI LAKES, FL -- (Marketwired) -- 02/27/14 --
Fuse Science, Inc. (OTCQB: DROP) (www.fusescience.com), a consumer products and delivery technology company that is developing new, patent-pending technologies working to redefine how consumers receive energy, medicines, vitamins and minerals announced yesterday their financial results for its fiscal 2014 first quarter ended December 31, 2013.
Key Financial Results for the First Quarter Ended December 31, 2013
•The Company had gross sales of $513,993 and reported net revenue of $313,993 for the quarter ended December 31, 2013 an increase of 671% as compared to net revenue of $40,711 for the prior year quarter-end December 31, 2012.
•Loss from operations decreased $579,708 to $1,617,006 for the quarter ended December 31, 2013 as compared to $2,196,714 for the quarter period ended December 31, 2012.
•Excluding non-cash charges, loss from operations decreased $549,927 to $495,737 for the quarter ended December 31, 2013 as compared to $1,045,664 for the quarter ended December 31, 2012.
Brian Tuffin, CEO of Fuse Science, Inc. states, "We continue to focus on the execution of our business plan. The aggressive steps in expense control and targeted execution of our plan has begun to move results in the right direction. We maintain our focus on advancing a series of strategic licensing and commercialization opportunities that we anticipate will be completed shortly. We believe these initiatives will accelerate growth in shareholder value by strengthening both our consumer products business and technology licensing revenue.
A full analysis of results for the period ended December 31, 2013 is available in the Company's Form 10-Q, which is available on the Company's website at www.fusescience.com or within the Filings section of the Securities and Exchange Commission's web site located at www.sec.gov.
To become "Powered By FuseŽ", visit your local Walgreens or Duane Reade store or go to www.poweredbyfuse.com.
About Fuse Science, Inc.
Fuse Science, Inc. (OTCQB: DROP), is an innovative consumer products and delivery technology company based in Miami Lakes, Florida. Fuse Science holds the rights to new, patent-pending technologies poised to redefine how consumers receive energy, medicines, vitamins and minerals. The Company maintains the rights to sublingual and transdermal delivery systems for bioactive agents that can now, for the first time, effectively encapsulate and charge many varying molecules in order to produce complete product formulations which can bypass the gastrointestinal tract and enter the blood stream directly -- all in a concentrated "DROP" form that is simply applied under the tongue. The Fuse Science technology is designed to accelerate conveyance of medicines or nutrients relative to traditional pills and liquids and can enhance how consumers receive these products. Information about Fuse Science is available online at www.fusescience.com and www.poweredbyfuse.com or by calling 305-503-FUSE (3873).
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For more information:
Fuse Science, Inc.
Tel: (305) 503-3873, Ext. 2
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Tel: (786) 488-7138
Source: Fuse Science, Inc.