ORLANDO, Fla., Nov. 21, 2011 /PRNewswire/ -- GeneLink, Inc. (OTCBB: GNLK.OB, "the Company," or "GeneLink"), a leading consumer genomics biotech company, reported financial results for the quarter ended September 30th, 2011.
Bernard L. Kasten, M.D., GeneLink's Chairman and CEO stated, "From a business development potential, the third quarter has been the most exciting period in the history of the Company. The Company continues to make progress towards the launch of two exciting new personalized consumer product lines. These include a large scale direct-to-consumer initiative featuring a new brand being launched with Robert B. Trussell, Jr., Founder and Vice-Chairman of Tempur-Pedic, Inc. In addition to this opportunity, in early 2012 we will launch a specialized exclusive product line for aesthetic physicians under GeneLink's Dermagenetics® brand. We have already developed a unique line of products and are working with world class marketing partners for our initial launch into this arena."
Dr. Kasten added, "Importantly, the third quarter was most notable for our announced pending sale of GeneWize, our direct selling subsidiary, to Capsalus Corp. (OTCBB: WELL). The definitive agreements which we executed on October 13, 2011 provide us with a motivated and experienced marketing partner in multiple direct selling channels. Once we receive the necessary GeneLink's shareholder approval for the sale of GeneWize to Capsalus, we will be especially pleased to have positioned GeneWize and its marketing affiliates for success."
Financial Results for the three months ended September 30, 2011 , are comprised mainly of sales from the Company's GeneWize direct selling subsidiary, and compared to 2010 results as follows:
|SOURCE GeneLink, Inc.|
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