Bullboard - Stock Discussion Forum Promino Nutritional Sciences Inc. C.MUSL

Alternate Symbol(s): MUSLF

Promino Nutritional Sciences Inc., formerly Element Nutritional Sciences Inc., is a research-driven Canadian nutraceutical company. The Company is specializing in the development of science-based products for the global consumer packaged goods market, with a portfolio focused specifically on muscle health. The Company's lead product, Rejuvenate, is a formulation that is clinically proven to... see more

CSE:MUSL - Post Discussion

Promino Nutritional Sciences Inc. > $ELMT's financial results for FY 2021

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Post by waves1 on May 03, 2022 1:48pm

$ELMT's financial results for FY 2021

Promising news from Element Nutritional Sciences ($ELMT.c $ELNSF), reporting its financial results for the three months and full-year ended Dec 31, 2021.

Highlights:

Increase in generated revenue of 156% to $2.4M w/ gross margin of $0.2M
Decrease in net loss from $2.5M to $1.3M
Commenced trading on the OTCQB
Launched Rejuvenate products at multiple additional stores, adding over 1,200 points of distributions (Longo's grocery chain, Fortinos locations, Loblaws, Sam's Club & Publix Super Markets)
Agreement with leading e-commerce business accelerator, Pattern Inc
Launched JAKTRX Promino with a higher dosage formulation for sports nutrition market
Planned launch of Rejuvenate Immune Health
Formed Medical Advisory Board
Received a global Patent Cooperation Treaty for the amino acid formulation in Rejuvenate

Overall, these are solid results for $ELMT as they expanded their distribution footprint through significant large retail partnerships, accelerated sales volume through retail and e-commerce channels, and developed new product formats.

https://financialpost.com/pmn/press-releases-pmn/business-wire-news-releases-pmn/element-nutritional-sciences-reports-q4-and-fiscal-2021-results