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eFoodSafety Reports Optimistic Year End Financial Position
Scottsdale, AZ - (WORLD STOCK WIRE) - August 8, 2007 -- eFoodSafety.com, Inc. (OTCBB: EFSF) today reported to its shareholders on its year end financial position. The report highlights several key events that have taken place over this past fiscal year:
-- Year-over-year revenues were up over 100%
-- Gross profit margin exceeded Company's internal projections
-- Balance sheet improved dramatically with retirement of all debt
-- Established national retail distribution network
-- Launched numerous new product offerings
The Company experienced many of the one-time charges associated with establishing the Cinnergen(TM) brand within its national distribution network. The majority of these one-time charges have been expensed in this quarter's financials. The Company's cash position remains strong, Research and Development expenses are anticipated to decrease and all outstanding litigation has been resolved. The Company does not expect any extraordinary expenses to impact future cash flow or earnings.
Patricia Gruden, President and CEO of eFoodSafety.com, Inc., stated, "Our recent financials represent a building process, laying the groundwork for future growth. As we move forward, we anticipate double-digit revenue increases throughout the year. Importantly, fixed expenses are decreasing, with many of the one-time slotting fees associated with introducing a new product into retail channels now behind us. Combining these results with the upcoming launch of our e-commerce site, we look to 2008 to continue to show significant improvement and to end ultimately with potential profitability."
About eFoodSafety.com, Inc.
eFoodSafety.com, Inc. is dedicated to improving health conditions around the world through its innovative technologies. The company's Knock-Out Technologies, Ltd. subsidiary has developed an environmentally safe sporicidal product formulated entirely of food-grade components that eradicates anthrax and a germicidal product, Citroxin (formerly named Big Six Plus) - EPA Reg. No. 82723-1 that kills six major bacteria: E-coli, Listeria, Pseudomonas, Salmonella, Staphylococcus, and Streptococcus, Avian Influenza, and Black Mold. The sporicidal product has completed its final efficacy laboratory study requisite for EPA registration. In the study, it eradicated both Clostridium Sporogenes and Bacillus Subtilis with 100% efficacy on both hard and porous surfaces. The company's MedElite, Inc. subsidiary distributes clinically proven products to physicians who then prescribe the products for their patients. It recently became the owner of the Talsyn(TM)-CI/bid Scar Cream, that has been clinically proven to facilitate and improve the appearance, redness and strength of scars (www.talsyn.com), as well as seven (7) other products in the Talsyn(TM) line. The Company is also owner of Cinnergen(TM), a clinically-studied, non-prescription liquid whole food nutritional supplement that promotes healthy glucose metabolism (www.cinnergen.com) and Cinnechol(TM), a new multi-faceted nutritional supplement specifically designed to naturally reduce total cholesterol levels without causing any side effects. The Company has entered into a joint venture agreement with CK41 Direct, Inc. to launch the PurEffect(TM) anti-acne skin care system.
Please visit the Company's website at: http://www.efoodsafety.com.
Safe Harbor Forward-Looking Statements Statements contained in this release 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 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. Editors and investors 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, our ability to continue to develop markets, general economic conditions, our ability to secure additional financing for the Company and other factors that may be more fully described in reports to shareholders and periodic filings with the Securities and Exchange Commission.
Patricia Gruden efoodsafety.com, Inc. 7702 East Doubletree Ranch Road Suite 300 Scottsdale, AZ 85258 USA
Phone: 415-884-0348 Fax: 480-348-3999
Source: efoodsafety.com, Inc. Note: The following press release was submitted by: efoodsafety.com, Inc., and World Stock Wire, Inc. is not liable for the contents of this press release.
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