Torque Lifestyle Brands Closes 2021 strong with over $2m in Invoiced Revenues and Goes into 2022 with $5M+ in Booked Sales
WHEAT RIDGE, CO, Dec. 30, 2021 (GLOBE NEWSWIRE) -- Torque Lifestyle Brands Inc. (OTC Pink: TQLB) (“Torque” or the “Company”), an emerging leader in the manufacture of active lifestyle sports nutrition and supplements, announces 2021 provisional revenues and booked sales for its JV ‘Zero Torque Manufacturing’.
The JV’s CEO, Leonard K. Armenta Jr. commented “To have the first year out of the gate exceeding $2m in invoiced sales and going into only the second year of operations with more than $5m in booked sales to deliver, is an astounding achievement, and we could not be more excited about an exceptional new year of growth in 2022.”
Zero Torque Manufacturing, the company’s majority owned JV subsidiary, recently announced that it had secured a $4m purchase order from GNC Partner ‘Glaxon’ ( www.glaxon.com ). GLAXON is one of the fastest growing and most innovative brands in the active nutrition space. This growth has been driven by disruptive thought-provoking branding, product education, and transparent supplements that provide lifestyle solutions. GLAXON products have already received multiple industry awards in less than two years since launch, and will now be manufactured at the Zero Torque Facility in Texas.
Torque Lifestyle Brands, Inc. recently divested of its American Metabolix, Inc. subsidiary that brought in $500,000 of non-dilutive cash onto the balance sheet upon closing. All purchase orders are invoiced as end-product leaves the production line at Zero Torque. The numbers referenced in this release are provisional unaudited numbers and are subject to final review and change.
Cautionary Statement Regarding Forward-Looking Statements
Statements contained herein that are not based upon current or historical fact are forward-looking in nature and constitute 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. Such forward-looking statements reflect the Company’s expectations about its future operating results, performance, and opportunities that involve substantial risks and uncertainties. These statements include but are not limited to statements regarding departure of the company’s CEO. When used herein, the words “anticipate,” “believe,” “estimate,” “upcoming,” “plan,” “target,” “intend” and “expect” and similar expressions, as they relate to Progressive Care Inc., its subsidiaries, or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company’s actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements.
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