New York, New York--(Newsfile Corp. - April 28, 2020) - GenTech Holdings, Inc. (OTC PINK: GTEH) ("GenTech" or the "Company"), an emerging leader in the high-end CBD food and drinks marketplace, is pleased to report that the Caveat Emptor designation on OTCmarkets.com has been lifted, and GTEH shares are officially back in "Current Standing" with the OTC Markets Group (the "OTC"). The Company is now ready to fully implement an aggressive marketing strategy to drive sales growth for its Secret Javas coffee subscription product.
In addition, the Company is actively seeking acquisition opportunities to drive additional growth through synergistic M&A activity.
The Secret Javas coffee subscription product is a market leading combination of quality and value for premium coffee drinkers in search of specialty or high-end quality delivered to their doorstop on a monthly basis. Customers can select from the following package options:
- Standard Coffee Package: 3 one-pound bags of Standard Coffee ($359.99/yr, 112.99/qr, $43.99/mo)
- Premium Coffee Package: 3 one-pound bags of Premium Coffee ($431.99/yr, $122.38/qr, $47.99/mo)
- Secret Javas Package: 3 one-pound bags of Secret Javas Coffee ($505.99/yr, $142.99/qr, $55.99/mo)
- The Mix Package: One pound of each - Standard, Premium, and Secret Javas ($449.99/yr, 127.99/qr, $49.99/mo)
Each package is available in either ground, whole-bean, or Nespresso™ Compatible Pod format. CBD-infused coffees may also be added to any order as part of the Company's "Buy what you want when you want" option. In addition, the Company has added a Gift Subscription option to enable customer gifting of coffee products (either as full subscription or single bags) to loved ones.
According to a consumer survey conducted by National Coffee Association of America, the total retail value of the U.S. coffee market is estimated to be $48 billion dollars with specialty comprising approximately 55% value share. In other words, the "Specialty" category in coffee is becoming dominant in both volume and sales. Coffee is also becoming increasingly popular with younger consumers, who are more likely to adopt an online subscription consumer pattern, with the number of 18-24 year-olds who drink specialty coffee rising from 28% to 35% since 2013.
In addition, revenue in food and beverages ecommerce in the US is expected to reach $15bn by 2021, rising from $9bn in 2016. But, inside of that, Payments News reports that the approximate revenue from those who subscribe to products using the Amazon platform, rose from $2.9 billion to $11 billion from 2014 to 2018, with a significant proportion of these purchases in the grocery and gourmet food section. That's a 260% increase over this period, which gives a strong indication of the growth wave in this segment as more and more consumers transition to ecommerce for perishable goods.
"After six weeks under the Caveat Emptor designation, we have emerged stronger, more engaged, and more aggressively oriented," commented David Lovatt, CEO of GenTech. "This process offered us a chance to pause and take stock of where we are, and more importantly, where we need to be headed over coming months. The big upshot is a renewed commitment to pursuing both organic and M&A-based growth. And we anticipate developments along these lines over the immediate time frame."
About GenTech Holdings, Inc.:
GenTech Holdings, Inc. is a publicly traded company under the symbol GTEH. The company is creating a national chain of Hemp Centric Coffee Shop Retail Spaces where patrons can relax, drink CBD infused Teas and Coffees, try various own-brand products and experience holistic education and classes. The company is also building an extensive outreach program working with medical practitioners across the country in their own locations to educate their patients and increase awareness of the benefits of THC free CBD Products. All of this is offered under the brand 'The Healthy Leaf'.
Forward-Looking Statements
This press release may contain forward-looking statements, including information about management's view of GenTech, Inc.'s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of GenTech, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on GenTech's future results. The forward-looking statements included in this press release are made only as of the date hereof. GenTech cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, GenTech undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by GenTech.
Corporate Contact:
invest@gentech.group
www.gentechholdings.com
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