PLANO, Texas, Dec. 23, 2019 (GLOBE NEWSWIRE) -- via NetworkWire – Sharing Services Global Corporation (OTCQB: SHRG), formerly Sharing Services Inc., announces revenues of $38.9 million for its fiscal quarter ended Oct. 31, 2019, more than double revenues of $18.0 million reported in the comparable quarter of fiscal 2019. This fiscal quarter sets another record for SHRG and brings cumulative sales revenues to $169 million since the December 2017 launch of products through the Company’s Elepreneurs U.S., LLC and Elevacity U.S., LLC subsidiaries.
“Product sales for our incredible health and wellness products of Elevacity Global continue to be strong, consistently increasing each quarter,” stated SHRG CEO John “JT” Thatch. “Our Q2 revenues demonstrate that our sales and support strategies are on the right path as we continue to grow in the direct selling marketplace. We attribute our success to our independent distributors, which we refer to as Elepreneurs, and our incredible team at the corporate offices.
“SHRG will continue its efforts to expand revenues through its subsidiaries by added support, expansion efforts and by bringing on additional experienced industry talent to help these efforts on a large scale. The Company will continue to evaluate its expansion plans, products and strategies to continue its success as we enter into 2020.”
Additional information is contained in the Company’s 10-Q and 10-K filings with the Securities and Exchange Commission.
About Sharing Services Global Corporation
Sharing Services Global Corporation (OTCQB: SHRG), formerly Sharing Services Inc., (“Sharing Services” or “the Company”) is a diversified company, with Elepreneurs Holdings and Elevacity Holdings being its primary operating subsidiaries. The Company markets and distributes health and wellness products that are sold under the Elevate brand through an independent sales force of distributors, or Elepreneurs, using a marketing strategy which is a form of direct selling. The Company’s current product offerings include its Elevate health and wellness product line, launched in December 2017. The Company’s Elevate product line consists of Nutraceutical products that the Company refers to as “D.O.S.E.” (which stands for: Dopamine, Oxytocin, Serotonin and Endorphins). For more information, visit www.SHRV.com, www.Elevacity.com or www.Elepreneur.com.
Forward-Looking Statements
The statements contained in this press release that are not purely historical facts, or that depend upon future events, may 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, including statements regarding the Company's expectations, hopes, beliefs, intentions, or strategies regarding the future, including the Company's operating margin and rolling average annual growth in tangible book value per share, constitute forward-looking statements. Prospective investors are cautioned not to place undue reliance on forward-looking statements, that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements because of various factors. All forward-looking statements included in this document are based on information available to the Company on the date hereof and the Company assumes no obligation to update any such forward-looking statements. Prospective investors should also consult the risks described from time to time in the Company's Annual Reports on Form 10-K, Quarterly Reports on Form10-Q and Current Reports on Form 8-K and Annual Reports to Shareholders.
Company Contact:
Sharing Services Global Corporation
Investor Relations
(469) 304-9400 Ext 201
Info@SHRGinc.com
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