New Generation Consumer Group Announces 2014 Year-End Financial Results and Provides Corporate Update
Marketwired
WHITTIER, CA--(Marketwired - Mar 4, 2015) - New Generation Consumer Group (OTC PINK: NGCG), a consumer products marketing and media company, announced today its financial results for its fiscal year ended December 31, 2014 (FY2014).
Selected Financial Information
New Generation Consumer Group posted Gross Revenues for FY2014 of $913,249.00 and Gross Profits of $873,297.00. Operating expenses, including General and Administrative Expenses and Wages and Salaries, totaled 692,636.00. Net income was $180,661.00 before taxes and $153,161.00 after taxes. Cash and Cash Equivalents were $94,893.00 and Accounts Receivables were $275,380.00.
"We are pleased with our Company's achievements in 2014, which was basically our first quarter as a public company. We look forward to reporting our progress to our shareholders in the coming quarters," said Charles E. Morrison, Chief Executive Officer of New Generation Consumer Group. "The revenues we have generated and the growth of our Company, so far, has been accomplished without accessing the public financial markets. As our financial results improve, we will seek long-term, non-dilutive financial partners to take our business to the next level."
Business Highlights
Over the past year, New Generation Consumer Group significantly advanced its competitive position in the food and beverage industry, with highlights including:
1. New Generation Consumer Group, Inc. became a publicly traded company in October 2014 when Monster Marketing Group, Inc. merged with United Music & Media Group, Inc.;
2. The initial products were launched and the "Mucho Macho" Division of New Generation Consumer Group featured "Mucho Macho" Michelada Mix as its feature product and brand. Our VIP Spirits will feature "Excuse" as a featured product and brand with the first line of Spirits under the "Excuse" brand being a Top Shelf Liqueur infused Premium Vodka in a variety of different flavors. Each division includes a featured brand with plans for additional products, as well as additional product lines, within the divisions;
3. We successfully launched our initial brand and Our Mucho Macho products are now available in Kmart stores in the western United States, as well as more than 200 independent convenience stores and Amazon.com. Other retailers include select 7-Eleven Stores, Bestway Markets, Big Saver Foods, Alliance Beverage Partners, JC Sales, Mambo Grill, Bakers Bodega, and Piara Pizza. Our plans call for expanding the availability of our product to larger retailers, convenience stores, and liquor stores;
4. Charles E. Morrison joined New Generation Consumer Group as Chief Executive Officer. Mr. Morrison has over twenty-five years of extensive marketing experience building multicultural marketing campaigns for major brands. He previously was the Executive Vice President and General Manager of Client Services for UniWorld Group, Inc., Executive Vice President and Partner of the D.C.A. advertising agency in Detroit, Michigan, and Vice President of Multicultural Marketing for Coca-Cola USA. Mr. Morrison has been the recipient of 18 CEBA (Communications Excellence to Black Audiences Awards), 2 Clio's, 2 Addy's and 2 U.S. Television Festival Awards;
5. We strengthened our executive management with appointments of Felipe Longoria as Chief Operations Officer, Anthony Sykes as Chief Financial Officer, Roxanne Valdivia as Secretary and Treasurer, Calvin Ross as Director of Product Development, and Alexander Johnson as Senior Operations Manager.
Our Consolidated Financial Statement for FY2014 has been filed on OTCMarkets.com. Interested retailers, distributors, and shareholders are encouraged to contact us directly for more information about our company and our products.
About New Generation Consumer Group, Inc.
New Generation Consumer Group, Inc. (NGCG) is a marketing and media company that currently operates through four separate divisions: Mucho Macho, VIP Spirits, Monster Marketing, and our Snack Division. Mucho Macho features Mucho Macho Michelada Mix as its feature product. Our VIP Spirits Division will feature Excuse as our premium brand. Our initial product will be a Top Shelf Liqueur infused Premium Imported Vodka in a variety of different flavors, followed by Excuse Whiskey. Monster Marketing provides graphic design, web development, brand management, and various other services to its clients and helps them get more customers, increase sales, sell a product, or create brand awareness. Our snack division brings consumers more of spicy and intense flavors today's sports fans want for their tailgate or sports themed parties. Additional information may be found at http://www.newgencg.com, https://www.facebook.com/muchomachomichelada, or https://twitter.com/MuchoMachoMiche.
Safe Harbor and Forward-Looking Statements
This press release contains forward-looking statements. Words such as "expects," "intends," "believes," and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, the ability to secure additional sources of finance, the ability to reduce operating expenses, and other factors described in the Company's filings with the OTC Markets Group. The actual results that the Company achieves may differ materially from any forward-looking statement due to such risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
