BOULDER, CO -- 05/18/2006 – Life USA, Inc. (OTCBB: LFUI), a distributor of pure and blended krill oil supplements, today announced financial results for its first fiscal quarter 2006, which ended on March 31st. The company started business twelve months ago, and is publicly traded under the ticker symbol LFUI.OB.
Top line revenue growth continued to exceed the prior quarters. Revenues in the first quarter of 2006 increased by 172% to $74,583 compared to $27,388 in the fourth quarter. “This growth trend is continuing in the second quarter, because up to today we already delivered over $300,000 to our customers”, said Rick Newton, Chief Executive Officer of Life USA, Inc.
Mickey Schuett, President of Life USA, added: “Our growth is driven by the marketing momentum which krill oil has in the market place. Doctors, supplement stores and consumers are discovering the fabulous potential which this supplement has for maintaining cardio vascular, joint and mental health. For example, the market picked up on the recent clinical research which indicates that krill demonstrates better results than fish oil and traditional Statin drugs for managing a patient’s cholesterol levels”.
Net loss for the first quarter decreased 56% to $168,515 when compared to the fourth quarter in 2005. The improved profitability is the result of lower Operating Expenses, caused by the reduced use of consultants. Furthermore, the fourth quarter showed a onetime impairment loss. Operating Loss improved from $255,628 in the fourth quarter to a $154,129 loss in the first quarter. Earnings per basic and diluted share were negative ($0.02) for the first quarter of 2006.
Life USA, Inc. is a high quality supplement distribution company, and does business through its wholly owned subsidiary Neuro Nutrition, Inc., and through its sales web site www.EnhancedMetabolics.com. The company also owns the rights to the proprietary blend of pure Neptune Krill Oil and SierraSil minerals, under the new brand name Agilflex. The new product combines the joint health qualities of these two high efficacy products.
For more information, please visit www.LifeUSAinc.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release contains forward-looking information. Statements that are not descriptions of historical facts are forward-looking statements provided under the "safe harbor" protection of the Private Securities Litigation Reform Act of 1995. These statements are made to enable a better understanding of our business, but because these forward-looking statements are subject to many risks, uncertainties, future developments and changes over time, actual results may differ materially from those expressed or implied by such forward-looking statements. Examples of forward-looking statements are statements about anticipated financial or operating results, financial projections, business prospects, future product performance and other matters that are not historical facts. Such statements often include words such as "believes," "expects," "anticipates," "intends," "plans," "estimates" or similar expressions.
These forward-looking statements are based on the information that was currently available to us, and the expectations and assumptions that were deemed reasonable by us, at the time the statements were made. We do not undertake any obligation to update any forward-looking statements in this report or in any of our other communications, except as required by law, and all such forward-looking statements should be read as of the time the statements were made, and with the recognition that these forward-looking statements may not be complete or accurate at a later date.
Darrin C. Duber-Smith
1020 15th St. #18M
Denver, CO 80202
Phone: 303 – 819 5445
Phone: 303 – 415 1900