PLANO, Texas, July 11, 2019 (GLOBE NEWSWIRE) -- via NetworkWire – Sharing Services Global Corporation (OTCQB: SHRG) (“the Company”), formerly Sharing Services Inc., announces revenues of $85.9 million for the fiscal year ended April 2019, representing a ninefold increase of approximately $77.5 million compared to fiscal year 2018 revenues of $8.4 million.
This fiscal year sets yet another record for SHRG, as the Company has now reported cumulative sales revenues of over $94 million since the December 2017 launch of products through its Elepreneurs, LLC and Elevacity Global, LLC subsidiaries.
"Over the last 16 months, our product sales for the health and wellness products of Elevacity Global have dramatically and consistently increased,” stated SHRG CEO John “JT” Thatch. “Our 2019 revenues are continued proof that our ‘Blue Ocean Strategy’ is being implemented and accepted in the direct selling marketplace. We continue at a record-breaking pace as our dedicated and highly talented Elepreneurs continue to execute on the mission to change the direct selling industry with best-in-class products and services.”
Since its product launch in late 2017, SHRG has taken several steps to support its expansion pursuits, establishing a new corporate headquarters to accommodate growth and bringing on experienced industry talent to help drive momentum on a grand scale. The Company has announced global expansion plans, which it is currently implementing and will continue to do throughout the remainder of 2019.
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., is a diversified holding company that is publicly traded and dedicated to maximizing shareholder value through the acquisition and development of innovative companies, products and technologies in the direct selling industry. The Sharing Services combined platform leverages the capabilities and expertise of various companies that market and sell products direct to the consumer through independent contractors. Two of its primary divisions include Elevacity Holdings, LLC (a product sourcing and supply company) and Elepreneurs Holdings, LLC (a sales and marketing company based on utilization of independent contractors as the sales force). For more information, visit www.SHRGInc.com, www.Elevacity.com or www.Elepreneur.com.
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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Source: Company press release.