IRVINE, Calif., April 6, 2015 /PRNewswire/ -- NuGene International, Inc. ("NuGene") (OTCQB: NUGN), today announced the filing on March 30, 2015 of its Annual Report on Form 10-K for the year ended December 31, 2014 ("2014 Form 10-K") with the U.S. Securities and Exchange Commission.
"The year 2014 was a transformative year of change for our company," stated NuGene's CEO Ali Kharazmi. "Among our important milestones,
- We began selling our proprietary regenerative skin and hair care products to a growing base of aestheticians, skin and hair care professionals and medical spas.
- We became a publicly traded company.
- We entered into a licensing agreement with kathy ireland Worldwide®.
- We grew sales from $155,197 in 2013 to $723,438 in 2014 – a significant increase.
- We fortified our balance sheet, with total assets at yearend of $1.86 million compared to total liabilities of $492,563.
- We added key members to our Advisory Board.
- We secured 11,000 square feet of new office and warehouse space in Irvine, California to support our planned expansion and growth.
Overall, it was an exciting and productive year."
So far in 2015 the company has also announced new additions to its advisory board, the formation of subsidiary NuGene BioPharma for regenerative pharmacology, the acquisition of Skinguardian® by NuGene BioPharma, an expansion of the product distribution base and national product promotions to boost brand recognition.
About NuGene International, Inc.
NuGene International, Inc. specializes in developing, manufacturing and marketing proprietary regenerative cosmeceutical and pharmaceutical products based on adipose derived human stem cell and human stem cell media. The US Department of Health and Human Services calls regenerative medicine the "next evolution of medical treatments." The regenerative medical market, which includes cosmeceuticals and pharmaceuticals, was estimated at $7.2 Billion in the US in 2014 and is expected to rapidly grow in the coming years according to RNCOS Business Consultancy Services Global Cosmeceuticals Market report. NuGene's cosmeceutical and pharmaceutical products are based on proprietary stem cell based regenerative formulations derived from non-controversial, adult human stem cell derived media obtained from adipose tissue. NuGene's exclusive products combine its in-house advancements, proprietary technologies, and patent pending formulations. The company has two patents pending covering 15 unique applications and inventions. NuGene's goal is to leverage its extensive knowledge and expertise to develop age defying regenerative cosmeceutical skincare and hair care products in addition to pharmaceutical products based on the same regenerative science platform.
Forward-Looking Statements
This release contains forward-looking statements. Actual results may differ from those projected due to a number of risks and uncertainties, including, but not limited to the possibility that some or all of the matters and transactions considered by NuGene International may not proceed as contemplated, and by all other matters and assumptions specified in NuGene's filings with the Securities and Exchange Commission, especially those risks and other matters described under "Risk Factors" within NuGene's Form 8-K filed with the Commission on January 6, 2015 and in its Annual Report on Form 10-K filed with the Commission on March 30, 2015. These statements are made based upon current expectations that are subject to risk and uncertainty. NuGene does not undertake to update forward-looking statements in this news release to reflect actual results, changes in assumptions or changes in other factors affecting such forward-looking information.
Investor / Media Relations:
Chris Rosgen
Capital Market Relations
(949)481-9739
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SOURCE NuGene International, Inc.
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