All five portfolio companies experiencing growth year to date 2024
2 divisions set to double year over year through 2024
SANTA MONICA, Calif., August 15, 2024--(BUSINESS WIRE)--Starco Brands, Inc. (the "Company") (OTCQB: STCB), developer and acquirer of behavior-changing technologies and brands that spark excitement in the everyday, today announced their board approval of the Companies Insider Trading Policy and plan for insiders to buy-back stock.
The Company, owner of five operating brands: Whipshots, alcohol infused aerosol whip cream, Winona Pure, popcorn and seasoning sprays, Art of Sport, a wellness brand designed for athletes, Skylar Beauty, a clean fragrance and personal care brand and Soylent, a nutritional food and beverage brand, recently reported net revenue for the second quarter 2024 to be $15.6 million with margins increasing to 37%. The Company is projecting national retail expansion and growth for the back half of 2024 and into 2025.
Starco Brands Chairman & CEO Ross Sklar said: "We have integrated and created efficiencies through our shared service platform for our brands over the course of 2023 and 2024 allowing the Company to now experience tremendous retail expansion, topline growth and higher margins. The team made incredible progress in expanding our product lines and points of distribution and I cannot be more proud of them."
In an interview with ICR, the Company’s investor relations firm, Mr. Sklar was asked why disclose the adoption of the firms insider trading policy and plan to buy back stock? Mr. Sklar said, "As our public company continues to grow and gain in popularity the employees and senior executives are eager to own more of our stock. We are proud to announce the approval of our Insider Trading Policy and plan to buy our stock along this amazing journey. Sklar continued, I am a buyer of our stock and have begun purchasing when allowed during non-black out periods, as outlined in our Insider Trading Policy.
Mr. Sklar was then asked why he is currently buying the Company’s stock in the open market. Mr. Sklar responded, "If you look at any of our portfolio companies we are winning because we have extremely unique products and brands with defensive moats and scaling distribution." Sklar continued, "Anybody is free to review the company’s performance to understand its current revenue run rate, margins and distribution expansion activities and then analyze that versus the market cap and see if this aligns. A couple of the metrics that are important to me are, the enterprise value of individual brands may exceed the entire market cap of the company. As well, the market cap overall is less than one times revenue, anybody is free to make their own judgements if they believe this is an undervalued asset or not."
On August 14th, the day after the Companies earning release and call, Starco Brands stock traded more shares than ever before in the Companies life.
Forward-Looking Statements
Any statements in this press release about the Company's future expectations, plans and prospects, including statements about our financing strategy, future operations, future financial position and results, market growth, new product launches and product growth, total revenue, as well as other statements containing the words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "project," "should," "target," "will," or "would" and similar expressions, constitute forward-looking statements within the meaning of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. The Company may not achieve the plans, intentions or expectations disclosed in the Company's forward-looking statements, and you should not place undue reliance on the Company's forward-looking statements. All forward-looking statements are subject to assumptions, risks and uncertainties that may change at any time. Therefore, readers are cautioned that actual results could differ materially from those expressed in forward-looking statements. The Company undertakes no obligation to update any forward-looking statements as a result of new information, future developments or otherwise, except as expressly required by law. This cautionary statement entirely qualifies all forward-looking statements in this document.
Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements the Company make as a result of a variety of risks and uncertainties, including risks related to the Company's estimates regarding the potential market opportunity for the Company's current and future products and services, the impact of the COVID-19 pandemic, the competitive nature of the industries in which we conduct our business, general business and economic conditions, our ability to acquire suitable businesses, our ability to successfully launch new products and seize market share, the Company's expectations regarding the Company's sales, expenses, gross margins and other results of operations, and the other risks and uncertainties described in the "Risk Factors" sections of the Company's public filings with the Securities and Exchange Commission on Form 10-K for the year ended December 31, 2022 and our subsequent interim reports on Form 10-Q and 8-K. Copies of our SEC filings are available on our website at www.starcobrands.com. In addition, the forward-looking statements included in this press release represent the Company's views as of the date hereof. The Company anticipates that subsequent events and developments may cause the Company's views to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date after the date hereof.
About Starco Brands
Starco Brands (OTCQB: STCB) invents and acquires consumer products with behavior-changing technologies that spark excitement in the everyday. Today, its disruptive brands include Whipshots®, the world's only vodka-infused whipped cream co-founded by global artist Cardi B; Art of Sport, the body care brand designed for athletes and co-founded by Kobe Bryant; Winona® Pure, the first indulgent theater-popcorn spray powered by air; Skylar, the only fragrance that is both hypoallergenic and safe for sensitive skin; and Soylent, the complete non-dairy nutrition brand. A modern-day invention factory to its core, Starco Brands identifies whitespaces across consumer product categories. It draws upon a portfolio of innovative formulas spanning eight product categories with limitless innovation potential. Starco Brands publicly trades on the OTCQB stock exchange so that retail investors can invest in STCB alongside accredited individuals and institutions. Visit starcobrands.com for more information.
