VANCOUVER AND MESA, AZ, Nov. 21, 2012 /PRNewswire/ - Asantae Holdings International Inc. (TSX-V: JVA; OTC PINK: ASNHF) (the "Company") announced the release of the Financial Statements for the 3Q of 2012.
Asantae saw an increase in revenues from Q3 2011 to Q3 2012 to $1,123,067, an improvement of 253% over one year. Likewise, gross margins increased from 48% in Q3 2011 to 80%, Q3 2012 to $893,542.
The Company also gained efficiencies in most operating metrics as well from Q3 2011 to Q3 2012. General and administrative expenses decreased from $655,540 to $524,804.As a percentage of revenue, the decrease was more dramatic 148% to 46%. Affiliate commissions dropped as a percentage of revenue as well, from 50% to 43%, while the actual dollars increased from $222,674 to $490,464 due to the increase in top-line sales. While advertising and promotion increased $5,165 to $68,897 from Q3 2011 to Q3 2012 due to increased sales incentives for the quarter.
Asantae's CEO Dan Lundell said, "The third quarter of 2012 marks the one-year anniversary of the pre-launch of RealW8™, the cornerstone of our Asantae 2.0 initiative. We have seen remarkable growth and improvement in the company since then in every major metric. Asantae has benefited dramatically from the changes in management, product margins, cost and overhead reductions, compensation plan, and it's overall approach to the business of Network Marketing."Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. About Asantae Asantae Holdings International Inc. ( www.asantae.com) is a producer and marketer of innovative nutritional products through a network of independent distributors (Asantae Independent Affiliates). Asantae's flagship product RealW8™ addresses the primary threat to public health in the industrialized world; overweight and obesity. Asantae's approach to this threat is based on a body of research related to the brain chemistry of addiction, chronic low-grade inflammation and oxidative stresses which, according to scientific and medical research, are the underlying conditions for most modern epidemic diseases (obesity, heart disease, diabetes, stroke, some cancers, etc.). According to Market data Enterprises, Inc., the U.S. weight loss market alone is estimated at $60.9 billion per year. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.