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Element Nutritional Sciences ( OTCQB:ELNSF ) provides a review of its operational milestones in 2022 and an outlook for 2023.
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The company generated revenue of $4.1M for the year-to-date Q3 2022, a 100% increase over the same period in the prior year
- Looking forward to 2023, regulatory changes from Health Canada are expected to result expedited time-to-market for Rejuvenate Muscle Activator ready-to-drink beverages by enabling listings with key retailers in Canada.
- The company expects that aligning U.S. and Canadian retail launches for its patented ready-to-drink beverage will create significant synergies and economies of scale that will contribute to higher gross profit margins and new points of distribution in the North American retail channel.
- Additionally, the company implementing new supply chain initiatives that will significantly lower raw material costs on finished goods and increase gross profit margins on all products.
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Element Nutritional Sciences provides 2023 outlook