SCOTTSDALE, Ariz., Feb. 20 /PRNewswire-FirstCall/ -- eFoodSafety.com, Inc., (OTC Bulletin Board: EFSF) an emerging healthcare consumer products company with a portfolio of aesthetics, dermatology, environmental and nutraceutical products, outlined its growth objectives for the fiscal year ending April 30, 2010 during its regularly scheduled monthly investor call, held on February 17, 2009.
eFoodSafety.com intends to increase revenues by improving the visibility of its products. The Company's conservative revenue forecast for fiscal 2010 is $3 million. The stretch goal is $5 million. The Company expects that the ongoing recession may negatively impact gross margins and is conservatively forecasting $1.65 million, or 55%, of gross margin on its products. The Company will endeavor to maintain its operating expenses within the gross margin in order to generate positive operating income. Based on initial forecasting, the Company plans to allocate 15% (approximately $450,000) to research, development and clinical efforts, 25% (approximately $750,000) to marketing and sales and 10% (approximately $300,000) to general and administrative activities including business/partnership development. This tentatively would yield a 5% (approximately $150,000) EBIDA. Separately, the Company's goal is to close at least two major partnerships in 2010, which could positively impact the net profits.
A replay of the conference call is available until February 24, 2009 at 11:59 PM EST. The replay number is 1-877-660-6853 (US) and 1-201-612-7415 (international). To listen to the replay, please provide the account code 3055 and conference ID number 312810.
About eFoodSafety.com, Inc.
eFoodSafety.com is an emerging healthcare consumer products company with a portfolio of aesthetics, dermatology, environmental and nutraceutical products. The company's focus is on developing, licensing and commercializing healthcare products that address the health needs of consumers worldwide. The Company recently announced a pending merger with Freedom2, Inc., a diversified skin products technology company serving the fast-growing body art, aesthetic, cosmetic and skin therapy markets worldwide. The merger is on track to close on or before February 28, 2009.
SAFE HARBOR STATEMENT:
Statements contained in this presentation that are not strictly historical are "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. The forward-looking statements are made based on information available as of the date hereof, and the Company assumes no obligation to update such forward-looking statements. Forward-looking statements are sometimes identified by words such as "intends", "anticipates", "believes", "expects", and "hopes" and involve a number of risks and uncertainties that could cause the Company's actual results to differ materially from projected results. All parties are cautioned that such forward-looking statements involve risks and uncertainties that could cause the Company's actual results to differ materially from those in these forward-looking statements. Such risks and uncertainties include but are not limited to demand for the Company's products and services, the planned share exchange with Freedom2 Holdings, Inc., our ability to secure additional financing, and other factors that may be more fully described in reports to shareholders and periodic filings with the Securities and Exchange Commission.
Investor Relations Contacts:
Blair Barnes, CFO Freedom2, Inc. Ph: 856-354-0707 ext. 201 Email: email@example.com Stephanie Carrington/Amy Glynn The Ruth Group Ph: 646-536-7017/7023 Email: firstname.lastname@example.org Email: email@example.com
Pat Arcand Arcand & Madison Ph: 617-576-7777 Email: firstname.lastname@example.org
|SOURCE eFoodSafety.com, Inc.|
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