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Ottawa, Canada and Houston, Texas -- PRNewswire-FirstCall
Natural Nutrition, Inc. (OTC Bulletin Board: NTNI; www.naturalnutritioninc.com) announced today that its operating subsidiary, InterACTIVE Nutrition, Inc. (INII) achieved record unaudited sales of $17.46 million (CDN) and $1.81 million (CDN) in EBITDA for the year ended December 31, 2007.
Tim Connolly, CEO of Natural Nutrition, stated, "We are pleased to report record results for our first year-end for InterACTIVE Nutrition since we took over operating control in May. With EBITDA of $1.81 million (CDN), INII exceeded the level of EBITDA required for 2007 under our $9.3 million Secured Convertible Note with YA Global Investments, L.P. We will be reporting our audited and consolidated results soon, which while showing our positive cash flows in this regard, will also show a loss on a consolidated basis due to one time expenses relating to the settlement of the litigation allowing us to take over control of INII, the cessation of lending activities and write downs related to our discontinued CSI Business Finance activities, and derivative calculations for the convertible debt and warrants held by YA Global advisors. We continue to believe that 2008 will be another record year in sales for the company and increasing positive cash flow for the Company."
InterACTIVE Nutrition International Inc.
www.interactivenutrition.com is a wholly owned subsidiary of Natural Nutrition, Inc. (OTC Bulletin Board: NTNI) and was previously minority owned by Corporate Strategies Merchant Bankers. InterACTIVE Nutrition is an international leader in sports and nutritional supplements backed by over 10 years of research, development and sales of sports nutrition products in over fifteen countries throughout the world.
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This press release contains forward-looking statements, which involve known and unknown risks, uncertainties or other factors that could cause actual results to materially differ from the results, performance or other expectations implied by these forward-looking statements. Natural Nutrition's expectations regarding future sales and profitability assume, among other things, stability in the economy and reasonable growth in the demand for its products, the continued availability of raw materials at affordable prices, retention of its key management and operating personnel, as well as other factors detailed in Natural Nutrition's filings with the Securities and Exchange Commission. The forward-looking statements, assumptions and factors stated or referred to in this press release are based on information available to Natural Nutrition today. Natural Nutrition expressly disclaims any duty to provide updates to these forward-looking statements, assumptions and other factors after the day of this release to reflect the occurrence of events or circumstances or changes in expectations.
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