GenTech Holdings Inc. (OTCMKTS:GTEH) Stock Gains Momentum: Jumps 20% In a Week

GenTech Holdings Inc. (OTCMKTS:GTEH) is up 20% in a week. The company has provided year-to-date financial performance results alongside the goals for the rest of the year.

Trading Data

On Thursday, GTEH stock ended flat at $0.0006 with more 120.15 million shares, compared to its average volume of 285.24 million shares. The stock has moved within a range of $0.0005 – 0.0006 after opening trade at $0.0006.

GenTech Provides Performance Projection for 2021 with Revenues Remaining on Pace for $1.3M+

The company’s financial year ended on October 31, 2021, and for the calendar year, the company reported gross consolidated revenue of $1.2 million from operations. In addition, its American Metabolix acquisition on September 1, 2021, accounted for CD$300,000 in its first quarter of operations at the company, which translated to around a $1.2 million revenue brand on its own in the coming quarters.

Ti date Nature Soothie sold out every production run to Sprouts and Whole Foods and SINFIT Nutrition plant-based bars, which are factors that have resulted in a hockey curve year with robust revenues. Currently, revenue stands at $1.2 million for this year, and the company expects full-year revenue of $1.35 million, representing a 400% YoY increase. Therefore, in the coming weeks, investors should keep an eye on GTEH.

Key Quote

David Lovatt, CEO of GenTech Holdings, commented, “These figures continue to show exceptional growth relative to 2020 revenues. At this time last year, we had consolidated year-to-date sales of around $190k. To be able to close out 2021 at the $1.3 million mark a year later would represent very impressive growth. With the latest revenue figures calculated and when we continue to extrapolate forward with all of our acquisitions accounted for, it is looking easily like $3.5 million in 2022. However, we anticipate a much more aggressive growth curve, based on the addition of Fizzique”