Innovus Pharma Turns Cash Flow Positive With Over $1 Million in Revenues for the Second Quarter 2016 - Seite 2

• Net revenues totaled $1.2 million, Beyond Human and Vesele® product sales contributing $918,000 of revenue during 2016. This compared to net revenues of $380,000 for the same period in 2015, an increase $865,000.
• Gross profit on product sales was $861,000, or 69% of revenue, compared to gross profit on product sales of $235,000 or 63% of revenue, for the same period in 2015, primarily due to sales from Beyond Human products.
• Total operating expenses increased 17% to $2,905,000 from $2,490,000, in the same period in 2015, primarily as a result of increased efforts to support our sales and marketing efforts on our products in existing and new markets, as well as, for working capital and other general corporate purposes.
• Net loss $5,915,309, or a loss $0.08 per share, compared with a net loss of $2,366,000, or a loss of $0.06 per share, for the same period in 2015. The increase in the net loss compared to the same periods in 2015 is a result of the non-cash Charges related to the financing.
• Cash and cash equivalents were $198,000 as of June 30, 2016, an increase of $142,000 from $56,000 as of December 31, 2015. We also had restricted cash of $1,305,000 as of June 30, 2016 which represents the cash proceeds from our convertible debt financing that was held in escrow until its release in July 2016. The cash does not include the additional $1,500,000 raised in July and approximately $200,000 received from exercise of Warrants.

The Company is planning on filing its Second Quarter Form 10-Q on August 15, 2016

About Innovus Pharmaceuticals, Inc.

Headquartered in San Diego, Innovus Pharma is an emerging leader in OTC and consumer products for men's and women's health and vitality. The Company generates revenues from its lead products (a) BTH® Testosterone Booster, (b) BTH® Human Growth Agent, (c) Zestra® for female arousal and (d) EjectDelay® for premature ejaculation and has an additional five marketed products in this space, including (e) Sensum+® for the indication of reduced penile sensitivity, (for sales outside the U.S. only), (f) Zestra Glide®, (g)Vesele® for promoting sexual and cognitive health, (i) Androferti® (in the US and Canada) to support overall male reproductive health and sperm quality, (j) BTH Vision Formula, (k) BTH Blood Sugar, among others and eventually FlutiCare™ OTC for Allergic Rhinitis, if its ANDA is approved by the U.S. FDA.