Holbrook, New York, August 14th, 2013 - Northstar Global Business Services, Inc. Symbol (OTCPink: MDIN), today announced it has posted its third quarter disclosure statement, the first disclosure to be reviewed by the firm’s CPA as part of a complete two year audit needed to up-list and become fully reporting with the SEC. Shareholders are reminded that this is not the entire audited statements needed to be considered fully reporting by the SEC, which would be published along with the prior two years of audited statements, but it is being published in conjunction with verification from the firm’s CPA as all disclosures will be from this point on to give shareholders the confidence in the company’s numbers that non-audited statements just cannot give.
Northstar also wishes to remind the shareholders that although the third quarter did see higher sales than previous quarters, the financial statements were prepared using a much higher standard of accounting principles, so actual sales previously shown hitting the bottom line as gross sales may now be accounted for as “deferred revenue” in order to qualify for SEC reporting. This happens because some or all of the revenue coming from wholesale agreements allow for the return of unsold merchandise for a period of time, and for that reason the revenue cannot be considered earned until that time period has passed. This could cause direct comparison to last quarter as it stands now to be a little confusing. However, with contracted wholesale sales for the third quarter totaling $7,114,022.50, up from the $5,649,713.00 last quarter, the company is confident that in the months and quarters ahead the company will begin to show it’s true value. Of course, all quarters for the past two years will be re-stated along with the audit when completed, so that the clear line of growth that NorthStar has experienced can easily be seen.
Northstar CEO, Nick Chieco commented, “I am really proud of what the company has accomplished in the past year, and I think we have far exceeded any reasonable expectations. The company’s growth would have been even more impressive had the retail distribution of Snorenz not experienced a few minor delays getting out to shelves in the big-box stores, but the good news is that all of our distribution agreements are in place, and our products continue to get very positive reviews, so when the large retail chains begin rolling out our products to shelves very shortly, I think everyone will be extremely impressed.”
Northstar assures shareholders that it plans to continue with the audit of its, and hopes to move up to the OTCQB tier very shortly as a stepping-stone for listing on the OTCBB or other fully reporting exchange shortly thereafter. The company wishes shareholders to know that although everyone is very anxious to be listed on a more regulated market where the trading practices of a few cannot cause the company’s shares to reflect anything but its true value, that extreme caution is being taken to assure that everything is done right the first time, giving the company the best chances of success.
Northstar’s two newest products, Snorenz Night-Time, and Goodnight’s Sleep, a re-launch of its second best selling product of all time, are both expected to go on sale by the end of the month, increasing the total number of retail the company has available, and opening more doors for distribution, and ultimately much larger revenue numbers.
Northstar Global Business Services is dedicated to producing the best alternative healthcare products. The most popular products in Northstar’s arsenal are Snorenz©, a patented spray for snoring relief, Stem-Intense, a unique stem cell replacement therapy supplement, and Health-Enrich for pets, an exciting new supplement that promotes pet health and can help relieve many problems experienced by aging pets. Most of the company’s products use a proprietary or patented formula, spray delivery system, or ingredients, and have received very positive consumer reviews all over the world, selling millions of units from 1996 to the present. Snorenz and Goodnight’s Sleep are registered trademarks of Northstar Global Business Services, Inc.
This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.
For more information about Northstar or the company’s products, please contact Northstar at: firstname.lastname@example.org
and follow the company on twitter: @medgeninc.
SOURCE: Northstar Global Business Services, Inc.
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