GeneLink Reports Third Quarter Results

ORLANDO, Fla.--(BUSINESS WIRE)--GeneLink, Inc. (OTCBB: GNLK.OB, “the Company,” or “GeneLink”), a leading consumer genomics biotech company, today reported financial results for the fiscal 2009 three-month period ended September 30, 2009. Financial Highlights:Fiscal 2009 Third Quarter Overview:In the first nine months of 2009, GeneLink continued to develop its foundation as a leading provider of genetically customized nutritional and personal care solutions. Essentially all of the $6,219,719 of revenue realized in the first three quarters of 2009 was through its wholly owned subsidiary, GeneWize Life Sciences, Inc. (“GeneWize”), which launched in August 2008.Total revenues for the three months ended September 30, 2009 were $2,134,504 as compared to $2,113,177 for the three months ended June 30, 2009, an increase of 1.0%. Quarterly gross profit increased by 7.6% to $1,265,176 for the three months ended September 30, 2009 as compared to $1,175,645 for the three months ended June 30, 2009, as gross profit margin improved to 59.3% from 55.6%. Operating loss in this period, decreased to $711,583 from $760,743 for the three months ending June 30, 2009. The loss for the three months ended September 30, 2009 included $88,167 of non-cash expenses related to option grants, most of which were issued in prior years and which vested in the current quarter and $172,151 of net expenses from GeneWize’s annual Recognition Celebration.MeTMMeTM (made exclusively) Custom Nutrition to include the enzyme CoQ10 and digestive enzymes. To further support our marketing Affiliates, we unveiled several new and improved sales a...
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GENELINK INC Files SEC form 10-Q, Quarterly Report

Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Statements in this Report that relate to future results and events are based on the Company's current expectations. Actual results in future periods may differ materially from those currently expected or desired because of a number of risks and uncertainties. For a discussion of factors affecting the Company's business and prospects, see "Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations - Factors Affecting the Company's Business and Prospects." Operating results for the nine-month period ended September 30, 2009 are not necessarily indicative of the results that may be expected for the full fiscal year. GENERAL The Company has created a breakthrough methodology for SNP (single nucleotide polymorphism) based genetic profiling (patents issued and pending) and the Company is marketing and/or licensing these proprietary assessments to companies that manufacture or market to the nutraceutical, personal care and skin care industries, as well as developing our own proprietary products for sale based on its profiling system. The Company's expansion into the bioscience field with its innovative genetic profiles help companies create and deliver more effective products - personalized wellness and "quality of life" products tailored to their customer's individual needs - based on the science of genetics, thereby allowing the consumer and/or their health care provider to determine what vitamin/nutritional supplements, skin-care products, and health care or weight loss regimens are best for their individual needs. The Company also does business through wholly-owned subsidiaries. GeneWize Life Sciences, Inc. ("GeneWize") provides genetically customized products and services to the nutrition and skincare markets. GeneWize formally launched its products and services in August 2008 and distributes its produc...
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GENELINK INC Financials

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GENELINK INC Files SEC form 10-K/A, Annual Report

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS You should read the following discussion and analysis in conjunction with our consolidated financial statements and related notes in Item 8 in this Annual Report on Form 10-K. Overview 2008 was a landmark year for the Company. The vision of being a leader in genetically-guided health, beauty and wellness products leapt forward with the launch of GeneWize and its LifeMap Nutritional Supplement. Revenues generated in the third quarter of 2008 alone exceeded revenues from all prior years combined, although some of this revenue was not recognized until later in 2008. We finished the year having performed more than 10,000 DNA tests and had over 13,000 people enroll as independent affiliates telling others about the LifeMap product. The tremendous unexpected response to our new offering put significant strain on our systems and service providers as well as our capital requirements for inventory and infrastructure. We ended the year raising an additional $853,000 toward those ends. That private placement effort continues into 2009 with an additional $565,000 in private-placement stock sales and $1,200,000 in convertible debt raised in 2009 through the date of this filing. We believe the success in raising capital in a dismal economy and financial environment supports the vision of the future of nutrigenomics and personalization in the health, wellness and beauty products. Results of Operations COMPARISON OF FISCAL YEAR ENDED DECEMBER 31, 2008 TO FISCAL YEAR ENDED DECEMBER 31, 2007. Assets The Company's assets increased by $1,161,402 due largely to increases in inventory and accounts receivable resulting from operations. Inventory increased by $735,869 and consists primarily of raw materials products for the custom nutritional products sold by GeneWize. Inventory was higher that anticipated due to delays in realizing recurring revenues, as more f...
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GENELINK INC Files SEC form 8-K, Change in Directors or Principal Officers

Show all filings for GENELINK INC | Request a Trial to NEW EDGAR Online Pro Form 8-K for GENELINK INC 5-Oct-2009Change in Directors or Principal Officers Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended...
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GeneLink BioSciences, Inc. Names Doug Boyle to Board of Directors

ORLANDO, Fla.--(BUSINESS WIRE)--GeneLink BioSciences, Inc. (OTCBB: GNLK.OB, “the Company,” or “GeneLink”), has appointed Doug Boyle to the Company’s Board of Directors. Mr. Boyle brings significant financial, corporate government and operational experience to GeneLink and will serve as Chairman of the Audit Committee. “On behalf of GeneLink BioSciences, I would like to welcome Doug to the Board of Directors,” said Dr. Bernard Kasten, Executive Chairman. “Doug’s financial and business experience will be an asset to GeneLink and its shareholders. We look forward to working with Doug as we focus on growing GeneWize and leveraging GeneLink’s assets. I expect Doug will be a tremendous asset as GeneLink has entered an exciting growth phase as an operational and public company and as we push towards profitability.”Mr. Boyle, MBA, CPA, CMA serves as the President of Empirical Healthcare Consulting, LLC. He has over 20 years of professional experience in the areas of finance, operations, corporate governance and business turnarounds, including over 17 years of experience in healthcare as a financial and operational executive. He has served in executive roles in start-up, middle market and Fortune 500 companies where he has held the titles of Chief Executive Officer, President, Chief Operations Officer and Chief Financial Officer. He also worked as a Senior Auditor for KPMG Peat Marwick. Doug also led the national financial revenue operations for Quest Diagnostics Incorporated, and was CFO for Doylestown Hospital and Health Care System and MediMax Incorporated (a healthcare financing company). Doug holds an MBA from Columbia Univ...
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GeneWize Life Sciences, Inc., Approved As New Member of Direct Selling Association

ORLANDO, Fla.--(BUSINESS WIRE)--GeneWize Life Sciences, Inc. (“GeneWize”), subsidiary of leading consumer genomics biotech company GeneLink, Inc. (OTCBB: GNLK.OB, “GeneLink”), today announced that the Direct Selling Association (“DSA”) has approved its application for full membership in the organization. GeneWize distributes its genetically customized health and beauty products via a network of independent “direct selling” affiliates. GeneWize completed a one-year pending period required for full membership in the Direct Selling Association. During this time, the Company’s product sales, Affiliate recruiting and compensation methods were reviewed to ensure full compliance with all provisions established by DSA’s Code of Ethics. GeneWize joins the elite ranks of DSA’s more than 265 active and pending member companies in the United States.DSA is the national trade association representing companies that manufacture and sell products and services directly to consumers, primarily through an independent contractor sales force. Its mission is “to protect, serve and promote the effectiveness of member companies and the independent business people they represent. To ensure that the marketing by member companies of products and/or the direct sales opportunity is conducted with the highest level of business ethics and service to consumers.” Each DSA member company pledges to abide by the Code of Ethics’ standards and procedures as a condition to admission and continuing membership in the DSA. DSA’s Code is enforced by an independent code administrator who investigates and prescribes remedies in response to sale...
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GENELINK INC Files SEC form 8-K, Change in Directors or Principal Officers

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (d) On August 17, 2009, the Board of Directors of GeneLink, Inc. appointed James Monton to the Board of Directors. Mr. Monton, 63, will serve on the Audit and Compensation Committees of the Board of Directors. Mr. Monton replaces James Antal on the Board of Directors, who resigned effective August 17, 2009 for personal reasons. After graduating Magna Cum Laude from Michigan State University Honors College, Mr. Monton joined Procter & Gamble (P&G) in 1968 as a research scientist. He holds one of P&G's key beauty care patents. He led a number of successful projects including the launch of Pantene Pro V, which has become the world's largest beauty care brand. Mr. Monton worked for P&G in Europe from 1979 to 1982 where he helped lay the foundation for P&G becoming the most successful health and beauty care company in Europe. As a director in P&G's Latin American organization from 1984 to 1988, he managed projects in the health, beauty, cleaning, and food industries. Mr. Monton worked at P&G's Asian headquarters in Kobe, Japan from 1996 to 2001, leading much of P&G's Asian Beauty Care organization and serving on the China Beauty Care Management Leadership Team. From 2001 until 2005, he was a Director in P&G's External Relations Department where he led much of the company's connections with the media and outside influencers. Mr. Monton retired from P&G in 2005 where he was honored for 37 years of outstanding service. Mr. Monton currently serves on the Boards of the Northern Kentucky University's Business School and the International Business Center. He is a frequent speaker at international business seminars, guest lectures on management to MBA students, and sponsors scholarships for business students to work as interns outside the United States. Mr. Monton is a member of the Foreign Policy Leadersh...
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GeneLink, Inc. Names James Monton to Board of Directors

ORLANDO, Fla.--(BUSINESS WIRE)--GeneLink, Inc. (OTCBB: GNLK.OB, “the Company,” or “GeneLink”), has appointed Jim Monton to the Company’s Board of Directors. Mr. Monton brings decades of product development and branding experience, both domestic and international, in health and beauty care for Procter & Gamble (P&G). Jim will serve on the Audit and Compensation Committees of the Board of Directors. While at P&G, Mr. Monton led a number of successful projects including the launch of Pantene Pro V in the United States, which has become the world’s largest beauty care brand. Mr. Monton’s experience at P&G covered development of new products in Europe, Asia (including, specifically, Japan and China) and Latin America.“We look forward to working with Jim as we focus on leveraging the benefits of the tremendous opportunities available to GeneLink and GeneWize,” said Dr. Bernard Kasten, Executive Chairman. “Jim’s experience in the health and beauty care industry around the world will be an asset to GeneLink and its shareholders. On behalf of GeneLink, I would like to welcome Jim to the Board of Directors.”Mr. Monton currently serves on the Boards of Northern Kentucky University’s Business School and the International Business Center. He is a frequent speaker at international business seminars, guest lectures on management to MBA students, and sponsors scholarships for business students to work as interns outside the United States. Mr. Monton is a member of the Foreign Policy Leadership Council of Cincinnati and also uses his expertise to consult for companies on a strategic management and organizational issues....
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