Vancouver, BC, December 23, 2015 – INVICTUS MD STRATEGIES CORP. (“Invictus MD” or the “Company”) (CSE: IMH; OTC: IVITF; FRA: 8IS) announces that it has filed its consolidated financial statements and management’s discussion and analysis (the “Financial Statements”) for the three and nine months ended October 31, 2015, available for viewing on www.sedar.com.
Dan Kriznic, President and CEO commented, “We are extremely pleased with the financial results to date, and have seen Future Harvest continue to meet and exceed sales targets since our initial acquisition. Total revenue for Future Harvest increased by 50% during the three months ended October 31, 2015 (the “Third Quarter”) as compared to the prior year comparative period, and has continued to rise to date. The Financial Statements demonstrate the intrinsic value of the Company, with over $5.4 million in assets, and it is evident that the Company is undervalued in relation to the current market capitalization which, as of today, is approximately $1.6 million. We will continue to aggressively execute our business plan in order to provide increased value to our shareholders.”
Third Quarter Financial Highlights
- Total assets as at October 31, 2015 of $5,486,851
- Revenues, cost of sales, and gross margin for the three months ended October 31, 2015 totaled $1,287,035, $720,459, and $566,576 respectively, which was primarily attributed to sales from Future Harvest for the period of August 1, 2015 to October 31, 2015;
- Operating expenses for the Third Quarter totaled $136,802, and are comprised of expenses incurred for investor relations, sales and marketing, and travel;
- General and administrative expenses for the Third Quarter totaled $602,698;
- At October 31, 2015, the Company had working capital of $1,902,460; and
- 40,335,296 common shares are issued and outstanding as of the current date.
Full details of the Financial Statements are described in the Company’s condensed interim consolidated financial statements with accompanying notes and related Management’s Discussion and Analysis. These documents and additional information on Invictus MD are available on SEDAR at www.sedar.com.
About Invictus MD
Invictus MD targets companies with proven brands, strong customer focus, and significant growth potential. We not only provide capital to meet these objectives but also years of management experience from a team that has been successful in all facets of business from start-ups to running large international organizations. The fundamental core of our operations is centered on the vast opportunities within fragmented industries.
Invictus MD works in partnership with management teams to increase shareholder value through business planning and process integration, developing and executing growth strategies, leveraging our experience and relationships, and structuring and deploying the proper capital to support long-term growth. Our prudent approach to both investing in and developing successful companies ensures successful execution of the business plan in both times of economic expansion and contraction.
For more information please visit www.invictus-md.com.
On Behalf of the Board,
Chairman & CEO
Cautionary Note Regarding Forward-Looking Statements: Certain statements made in this press release that are not historical facts are forward-looking statements and are subject to important risks, uncertainties and assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in or implied by such forward-looking statements. As a result, we cannot guarantee that any forward-looking statement will materialize and readers are cautioned not to place undue reliance on these forward looking statements. For more exhaustive information on these risks and uncertainties, the reader should refer to the risk factors described in the management’s discussion and analysis for the period ended October 31, 2015. The forward-looking statements contained in this press release represent our expectations as of the date hereof. We disclaim any intention and assume no obligation to update or revise any forward-looking statements. Forward-looking statements are presented for the purpose of providing information about management’s current expectations and plans and allowing investors and others to obtain a better understanding of our anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. The Company undertakes no obligations to update or revise such statements to reflect new circumstances or unanticipated events as they occur, unless required by applicable law.