ForeverGreen Worldwide Corp. Reports Positive Cash Flow and Lower Overhead Costs Leading the way to Profitability
The company's cost structure and effective cash-flow management contribute to overall financial performance
LINDON, Utah, December 4, 2018 /PRNewswire/ -- ForeverGreen™ Worldwide Corporation (OTCQB: FVRG), a global direct marketing company and provider of health and wellness products, announces the company has continued to make profitability its main focus by implementing a good cost structure and getting cash flow in order. These efforts to lower overhead costs have resulted in positive cash flow, putting the company in position to become profitable.
As shareholders are aware, over the past 18 months the company has completed a restructuring of its product lines, management, distribution, and financial foundations. ForeverGreen has taken the measures necessary to reduce its expenses to benefit the overall financial health of the business. The company has taken the initiative to focus on reducing shipping and logistical services. Cutting theses overhead costs has allowed the company to reduce losses and adjust the operating income to arrive at an operating income that flows in as cash. Cost of sales is down 6 % from 22% in Q3 2017 to 16% in Q3 2018 and gross profit is up from 78% in Q3 2017 to 83% in Q3 2018. The refining of the process is a result of the cost structure put into effect by the company. The cost structure has enabled the company to stay on top of its expenses and obtain positive cash flow.
"Operating a business incurs a cost, and we are proud to say our goals to lower overhead and become cash flow positive have been accomplished. We've created a very strong foundation for future growth and increased shareholder value and have already started to see those benefits to streamline show up in our 3rd quarter numbers. Combined with a 7% month over month growth from September to October and expected stronger growth in November, we expect to close the year in a very strong position that will help us get off to a quick start in 2019," commented Principle Executive Officer, Joe Jensen.
About ForeverGreen™ Worldwide Corporation
Empowering a health-conscious community to focus on mindful self-care, ForeverGreen's products, opportunities and ideals reach around the globe to thousands of individuals in over 100 countries. ForeverGreen combines technology, science and ancient resources into products that can be shipped anywhere using a revolutionary envelope model. Despite this successful development, our most important product will always be people; community involvement and good character are the seeds of complete health. ForeverGreen is a publicly traded company based in Lindon, Utah. For more information, visit forevergreen.org .
This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward-looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The company's actual results could differ materially from expected results.
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SOURCE ForeverGreen Worldwide Corp.
Company Codes: OTC-QB:FVRG, OtherOTC:FVRG, Stuttgart:LL8A