Navigation Links
MM2 Group Reports Record Net Income of $2,019,862 for Quarter Ending March 31, 2008

LIVINGSTON, N.J., May 21 /PRNewswire-FirstCall/ -- MM2 Group, Inc. (OTC Bulletin Board: MMGP) reported on May 20, 2008, in a Form 10-QSB filing with the Securities and Exchange Commission, net income of $2,019,862 for the quarter ending March 31, 2008, which is the third quarter of fiscal 2008 for the Company. In the same time period last year, the Company reported income of $254,223.

Total sales for the three months ended March 31, 2008 and 2007 were $685,663 and $247,954, respectively. The increase in sales in 2008 was derived from the sales of nutritional supplements by Genotec Nutritionals, Inc., the Company's wholly-owned subsidiary.

Total other (income) expense for the three months ended March 31, 2008 was an income of $2,169,040. This total was comprised of a gain on revaluation of derivatives of $2,711,630. This amount was offset by amortization of the discount on debt conversion of $223,344, liquidated damages of $108,275, interest expense of $47,387 and beneficial interest expense of $165,074. Loss from operations for the three months ended March 31, 2008 equaled $149,178 versus a loss of $492,597 in the same period last year.

This financial performance is a record in the history of the MM2 Group.

Mark Meller, CEO of MM2 Group, commented, "We are proud to report these results for the third quarter of 2008. The management team at Genotec Nutritionals, our wholly-owned subsidiary, is doing an excellent job of delivering great results. We look forward to continuing to deliver superior results throughout the rest of the year. Shareholders should read the complete details of our third quarter results in the Company's recently filed Form 10-QSB."

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 or Jerry Mahoney at

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©2008 PR Newswire.
All rights reserved

Related medicine news :

1. The Quantum Group Completes Corporate Expansion Plan; Employee and Corporate Office Growth Leads the Way for Enhanced Innovation and Growth Through 2009
2. Zimmer Holdings Names Mark C. Throdahl Group President, Global Businesses
3. National Business Group on Health Honors Erie Insurance As One of Best Employers for Healthy Lifestyles
4. McGraw Wentworth Mid-Market Group Benefits Survey Results Show Eligibility Management is Leading Cost Saving Strategy for Michigan Employers
5. Suicide Prevention Group Delivers Much-Needed Message to Pennsylvanias Elderly
6. MEDEX Global Group Acquires ASI Group
7. Somanetics Corporation to Present at Citigroup 2008 Healthcare Conference
8. LMS CALM Shoulder Screen(TM) selected by New Jersey physician group to minimize obstetrical risks
9. The Quantum Group Announces Web-Based Portal for Physicians
10. Gerson Lehrman Group and iGuard, Inc. Partner to Offer Patients a Voice in Healthcare Industry Decisions
11. Tiens Biotech Group (USA) Reports First Quarter Results
Post Your Comments:
(Date:11/27/2015)... ... 27, 2015 , ... The rapid speed at which Americans ... more care is needed, especially with Alzheimer’s, dementia and other cognitive conditions becoming ... The forgotten part of this equation: 80 percent of medical care occurs in ...
(Date:11/27/2015)... ... November 27, 2015 , ... "When I was traveling, I ... Hillside, N.J. "Many people catch diseases simply from sitting on such dirty toilet ... protected from germs." , He developed the patent-pending QUDRATECS to eliminate the need ...
(Date:11/27/2015)... ... November 27, 2015 , ... ProSidebar: Fashion is ... Pro X. With ProSidebar: Fasion, video editors can easily add an informative sidebar ... minimalist title opener. Utilize presets featuring self-animating drop zones, lines, bars, and text ...
(Date:11/27/2015)... ... November 27, 2015 , ... Intellitec Solutions announced today that ... (MSDSLUG). Recognized as Microsoft’s official group for end users of Dynamics SL ERP ... partners, industry experts and representatives. Intellitec Solutions’ membership status demonstrates their ongoing commitment ...
(Date:11/27/2015)... ... 27, 2015 , ... Keeping in mind challenges faced by ... wellness consultation, has collaborated with a leading web-based marketplace for extra-curricular activities for ... parents and bring advice from parenting experts within their reach. As a part ...
Breaking Medicine News(10 mins):
(Date:11/25/2015)... 25, 2015 On Tuesday, November 24, ... trial against Wright Medical Technology, Inc. for product ... metal-on-metal hip implant device, awarded $11 million in ... week trial and three days of deliberations, the ... was defectively designed and unreasonably dangerous, and that ...
(Date:11/25/2015)... 25, 2015  Henry Schein, Inc., the world,s largest ... dental, medical and animal health practitioners, will unveil at ... Henry Schein ConnectDental® Pavilion , which brings together for ... solutions designed to help any practice or laboratory enter ... for a schedule of experts appearing at the Pavilion. ...
(Date:11/25/2015)... plc (NYSE: AGN ) today announced that it has ... Attorney General,s Office to end the litigation under ... the Attorney General over the decision of Forest Laboratories, Inc., ... now generic version of memantine immediate release tablets.  Under the ... counterclaims against New York , and has ...
Breaking Medicine Technology: