- SHRG announce year-end numbers that top previous record-setting totals
- Revenues for FY 2020 total $131.4 million, a 53% increase over FY 2019
- CEO notes that talented personnel, enhanced software, additional infrastructure stand to benefit the company long term
Sharing Services Global Corporation (OTCQB: SHRG), a publicly traded company dedicated to maximizing shareholder value through the acquisition and development of innovative companies, products and technologies in the direct-selling sector and other industries, announced its FY 2020 revenue numbers, including an increase of more than 50% over last year’s numbers (http://ibn.fm/sqe8i). SHRG announced the figures in conjunction with filing its annual SEC 10-K report.
“The last 12 months have been challenging but rewarding for everyone involved with our company,” said SHRG CEO John “JT” Thatch. “Not only have we demonstrated strong sales growth with our health and wellness products during some difficult times, but as a team we have positioned ourselves with talented personnel, enhanced software and additional infrastructure, which we feel will benefit us in our long-term mission.”
Highlights of the report include revenues of $131.4 million for the fiscal year ended April 2020; the figure represents an increase of approximately $45.5 million, or a 53% increase, compared to fiscal year 2019 revenues of $85.9 million. This fiscal year continues the pattern of record-breaking numbers for the company, which has reported cumulative sales revenues of over $225 million since the December 2017 launch of its Elevacity products.
SHRG’s proprietary line of products, which include functional beverages and nutritional supplements, is distributed through its Elevacity subsidiary. The exclusive products are carefully formulated and developed by a team of doctors, pharmacists, chemists, naturopaths, food scientists and nutrition experts, and are designed to offer a wide range of benefits.
What makes the products truly distinctive is the company’s D.O.S.E. philosophy: Each product contains a careful combination of four ingredients (dopamine, oxytocin, serotonin and endorphins) that the company calls “happiness hormones.” Research has proven that these hormones promote feelings of happiness and well-being. This philosophy underlies the company’s continued commitment to offering life-changing products and opportunities.
“We continue to explore new products and services that will benefit our hardworking distributors, loyal customers and valued shareholders, while looking at further expansion efforts before the end of this year,” Thatch concluded.
The Sharing Services combined platform currently 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., the parent of its wholly owned subsidiary, Elevacity U.S. LLC, a health and wellness products company, and Elepreneurs Holdings LLC., the parent of its wholly owned subsidiary, Elepreneurs U.S. LLC, a sales and marketing company based on utilization of independent contractor distributors who sell the Elevacity product line.
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