NuGene International Inc (OTCBB:NUGN) has reported financial results for 1Q2015. It is a leading manufacturer, developer and marketer of advanced hair and skin lines with the help of stem cell media and adipose-derived human stem cells. As per the reports shared with the U.S. Securities and Exchange Commission, NuGene’s sales for the previous quarter totaled $481,360.
The senior management team of the company is delighted to announce the financial results. According to Ali Kharazmi, Chief Executive Officer, NuGene International, the company took a lot of positive initiatives and achieved many few important milestones from financial and operational point of view.
With an objective to expand in different parts of the country, NuGene International relocated its 11,000 square foot office, manufacturing, research, and assembly location in Orange County of California. Along with a focus on sales activities, it kept on investing in different assets to ensure future growth. As per the reports, its investment in office & laboratory equipment and leasehold improvements surpassed $83,000.
All the revenues in the first quarter were generated from different NuGene product lines and helped the company taking away revenue streams away from the transactions focusing on affiliate marketing. Biopharmaceutical field is hard to turn back on in today’s time, and NuGene is aware of this fact fully. As per the reports, it established NuGene BioPharma during the previous quarter so that it could focus on various biopharmaceutical initiatives.
There are not many companies in today’s time that have efficient technologies to get rid of wounds and skin issues. NuGene acquired SkinGuardian to take the wound and skin treatments to new levels. Along with its efforts to enhance operational and financial efficiencies, it continued to take various initiatives towards including industry luminaries on its board.
NuGene International Inc (OTCBB:NUGN) recruited in-house sales team to take its business to the next level. It looks forward to taking various such initiatives in the coming months.