CURE Pharmaceutical Holding CEO Nancy Duitch is providing an update to its shareholders on positive recent developments in the evolution and progress of the Company. The CEO said, " We would like to thank all of you for your continued support during this exciting time in our company’s history. We also want to share some of the progress we have made in the short period of time since the asset sale at the end of July 2022 which allowed us to invest in the Company’s transformational products and innovative marketing campaigns. We have been very busy executing on our strategy which we believe will increase shareholder value. CURE’s new business model is now focused on ‘The Future of Innovative Wellness’ utilizing our broad platform technologies. The new and exciting delivery system technologies we are creating in the surging wellness and beauty markets position us well for accelerating sales of our very high margin innovative products. Technology and innovation along with our team’s execution will help to distinguish Cure in the marketplace. The Company’s short and long-term growth strategy is to increase revenue with high margin products. We will do this by using our incubator strategy to grow the patent and product portfolios. Additionally, we will monetize the patented technology through multiple revenue streams including strategic partnerships and transactions. These initiatives, along with the Company’s relationships with Nicole Kidman and other major social media influencers, will also help propel its wellness and beauty brands to become household names and to become a house of respected and recognizable quality brands…Recent key operational highlights included the following: Revenue in the third quarter surged 32.1% year-over-year and 58.9% sequentially from Q2 2022 to $1.8 million with further increases expected in Q4. Gross margins for the third quarter improved by 123 basis points to 80.0% in 2022 compared to the same period in 2021 with expectations of continuing high margin sales with our new marketing initiatives. SG&A expenses for the third quarter decreased by $0.1 million in 2022 compared to 2021. Cost reductions and operating leverage helped narrow operating loss by $0.6 million in 2022 versus 2021 despite enhanced marketing investment. We are very pleased with the direction of our operating results and accelerating sales in the third quarter which reflect the improving trajectory of the business. The proceeds from the recent asset sale will enable us to invest in the future of the Company. Our margin expansion initiatives continue to deliver results, and we are continuing our efforts to reduce SG&A expenses. We are also very excited about the launches of the advertising and marketing campaigns for our Nutri-Strips and Seratopical Revolution lines. And get ready for the launch of our exciting market disruptors developed by our team of formulators led by Rob Davidson, our Chairman and Chief Technical Officer, in the first half of 2023 which look very promising for the Company."
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