Sharing Services Global Corporation (SHRG) Announces Filing of Annual 10-K Report with Increase in FY2020 Revenues
PLANO, Texas, July 13, 2020 (GLOBE NEWSWIRE) -- via NetworkWire – Sharing Services Global Corporation (OTCQB: ) (“the Company”), formerly Sharing Services, Inc., announces revenues of $131.4 million for the fiscal year ended April 2020, representing a 53% increase of approximately $45.5 million compared to fiscal year 2019 revenues of $85.9 million.
This fiscal year sets yet another record for SHRG, as the Company has now reported cumulative sales revenues of over $225 million since the December 2017 launch of products through its Elepreneurs U.S., LLC and Elevacity U.S., LLC subsidiaries.
"The last 12 months have been challenging but rewarding for everyone involved with our company. 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,” stated SHRG CEO John “JT” Thatch. “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.”
About Sharing Services Global Corporation
Sharing Services Global Corporation (OTCQB: SHRG), formerly Sharing Services Inc., is 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. 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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Additional information is contained in the Company’s 10-Q and 10-K filings with the Securities and Exchange Commission.
Forward-Looking Statements
The statements contained in this press release that are not purely historical facts, or that depend upon future events, may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements regarding the Company's expectations, hopes, beliefs, intentions, or strategies regarding the future, including the Company's operating margin and rolling average annual growth in tangible book value per share. Prospective investors are cautioned not to place undue reliance on forward-looking statements, that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements because of various factors. All forward-looking statements included in this document are based on information available to the Company on the date hereof and the Company assumes no obligation to update any such forward-looking statements. Prospective investors should also consult the risks described from time to time in the Company's Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K and Annual Reports to Shareholders.
Company Contact:
Sharing Services Global Corporation
Investor Relations
(469) 304-9400 Ext 201
Corporate Communications:
InvestorBrandNetwork (IBN)
Los Angeles, California
310.299.1717 Office
