GenTech Announces Removal of OTC Caveat Emptor Designation, Immediate Investment in Marketing and M&A
28 April 2020 - 1:45PM
InvestorsHub NewsWire
NEW YORK, NY --
April 28, 2020 -- InvestorsHub NewsWire -- GenTech Holdings, Inc. (OTC
PINK:
GTEH) ("GenTech" or the "Company"), an
emerging leader in the high-end CBD food and drinks
marketplace, is pleased to report that the
Caveat Emptor designation on OTCmarkets.com has been lifted, and
GTEH shares are officially back in "Current Standing" with the OTC
Markets Group (the "OTC"). The Company is now ready to fully
implement an aggressive marketing strategy to drive sales growth
for its Secret Javas coffee subscription product.
In addition, the Company is
actively seeking acquisition opportunities to drive
additional growth
through synergistic M&A activity.
The Secret Javas coffee
subscription product is a market leading combination of quality and
value for premium coffee drinkers in search of specialty or
high-end quality delivered to their
doorstop on a monthly basis. Customers can select from the
following package options:
- Standard Coffee Package: 3 one-pound bags of Standard
Coffee
($359.99/yr, 112.99/qr, $43.99/mo)
- Premium Coffee Package: 3 one-pound bags of Premium
Coffee ($431.99/yr, $122.38/qr, $47.99/mo)
- Secret Javas Package: 3 one-pound bags of Secret Javas
Coffee ($505.99/yr, $142.99/qr, $55.99/mo)
- The Mix Package: One pound of each – Standard,
Premium, and Secret Javas ($449.99/yr, 127.99/qr, $49.99/mo)
Each package is
available in either
ground, whole-bean, or Nespresso™ Compatible Pod
format.
CBD-infused coffees may also be added to any order as
part of
the
Company's "Buy what you want when you
want"
option. In addition, the Company has
added a Gift Subscription option to enable customer gifting of coffee products (either as full
subscription or single bags) to loved
ones.
According to a consumer survey
conducted by National Coffee Association of America, the total
retail value of the U.S. coffee market is estimated to be $48
billion dollars with specialty comprising approximately 55% value
share. In other words, the "Specialty" category in coffee is
becoming dominant in both volume and sales. Coffee is also becoming
increasingly popular with younger consumers, who are more likely to
adopt an online subscription consumer pattern, with the number of
18-24 year-olds who drink specialty coffee rising from 28% to 35%
since 2013.
In addition, revenue in food
and beverages ecommerce in the US is expected to reach $15bn by
2021, rising from $9bn in 2016. But, inside of that, Payments News
reports that the approximate revenue from those who subscribe to
products using the Amazon platform, rose from $2.9 billion to $11
billion from 2014 to 2018, with a significant proportion of these
purchases in the grocery and gourmet food section. That's a 260%
increase over this period, which gives a strong indication of the
growth wave in this segment as more and more consumers transition
to ecommerce for perishable goods.
"After six weeks under the
Caveat Emptor designation, we have emerged stronger, more engaged,
and more aggressively oriented," commented David
Lovatt, CEO of GenTech. "This process offered us a
chance to pause and take stock of where we are, and more
importantly, where we need to be headed over coming months. The big
upshot is a renewed commitment to pursuing both organic and
M&A-based growth. And we anticipate developments along these
lines over the immediate time frame."
About
GenTech Holdings, Inc.:
GenTech Holdings, Inc. is a publicly
traded company under the symbol
GTEH. The company is creating a national chain of Hemp Centric
Coffee Shop Retail Spaces where patrons can relax, drink CBD
infused Teas and Coffees, try various own-brand products and
experience holistic education and classes. The company
is also building an extensive outreach program working with medical
practitioners across the country in their own locations to educate
their patients and increase awareness of the benefits of THC free
CBD Products. All of this is offered under the brand 'The Healthy
Leaf'.
Forward-Looking Statements
This press release
may contain forward-looking statements, including information about
management's view of GenTech, Inc.'s future expectations,
plans and prospects. In particular, when used in the preceding
discussion, the words "believes," "expects," "intends," "plans,"
"anticipates," or "may," and similar conditional expressions are
intended to identify forward-looking statements. Any statements
made in this news release other than those of historical fact,
about an action, event or development, are forward-looking
statements. These statements involve known and unknown risks,
uncertainties and other factors, which may cause the results
of GenTech, its subsidiaries and concepts
to be materially different than those expressed or implied in such
statements. Unknown or unpredictable factors also could have
material adverse effects on GenTech's future results. The
forward-looking statements included in this press release are made
only as of the date hereof. GenTech cannot guarantee future
results, levels of activity, performance or achievements.
Accordingly, you should not place undue reliance on these
forward-looking statements. Finally, GenTech undertakes no obligation to
update these statements after the date of this release, except as
required by law, and also takes no obligation to update or correct
information prepared by third parties that are not paid for
by GenTech.
Corporate
Contact:
invest@gentech.group
www.gentechholdings.com
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