Transaction Valued at Over $96,000
LIVINGSTON, N.J., Dec. 11 /PRNewswire-FirstCall/ -- MM2 Group, Inc. (OTC Bulletin Board: MMGP) announced today that its wholly-owned subsidiary, Genotec Nutritionals, Inc., a New York based nutraceutical company which generates its sales from the distribution of its branded products and through custom formulations for several large strategic partners, has closed on a large order for a new product featuring high potency odorless fish oil and Coenzyme Q10 (CoQ10).
The transaction is valued at over $96,000. The order is expected to be the first of two orders from this customer, with the second order coming within the next 120 days.
Fish oil is known for being rich in unsaturated fatty acids and provides essential Omega-3 fatty acids (EPA and DHA). Fish oil may help reduce or inhibit risk factors involved in cardiovascular disease, cognitive decline, macular degeneration, as well as inflammatory and immune disorders. Omega-3 fatty acids also help prevent menopausal symptoms, promotes better circulation and neural development, and lowers cholesterol and triglycerides.
Coenzyme Q10 (CoQ10) is produced by the human body and is necessary for the basic functioning of cells. CoQ10 plays a key role in producing energy in the mitochondria, the part of a cell responsible for the production of energy in the form of ATP. CoQ10 levels are reported to decrease with age and to be low in patients with some chronic diseases such as heart conditions, muscular dystrophies, Parkinson's disease, cancer, diabetes, and HIV/AIDS. Some prescription drugs, like statins, may also lower CoQ10 levels.
Mark Meller, CEO of MM2 Group, stated, "We are pleased to announce the closing of this sale. While the size is small relative to some of the other transactions we've recently announced, I felt it was important to communicate to our shareholders that we are doing business every day. We are not just looking for home runs, but also singles and doubles. We recently announced net income of $951,855 for our fiscal first quarter, and we secured a large $1.1 million order for our omega-3 fish oil sofgels. We have positioned Genotec to grow into a very large company in the near future."
About MM2 Group, Inc.
MM2 Group is involved in the acquisition and build-out of dietary supplement and nutraceutical companies. The company's growth strategy is to acquire firms in this extensive and expanding but highly fragmented segment as it seeks to create substantial value for shareholders. For more information, contact MM2 Group CEO Mark Meller at (732) 290-0019 or by e-mail at email@example.com or Jerry Mahoney at firstname.lastname@example.org.
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, regarding among other things our plans, strategies and prospects -- both business and financial. Although we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Many of the forward-looking statements contained in this news release may be identified by the use of forward-looking words such as "believe," "expect," "anticipate," "should," "planned," "will," "may," "intend," "estimated," and "potential," among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents that we file from time to time with the United States Securities and Exchange Commission. All forward-looking statements attributable to MM2 Group, Inc. or a person acting on its behalf are expressly qualified in their entirety by this cautionary language.
|SOURCE MM2 Group, Inc.|
Copyright©2007 PR Newswire.
All rights reserved