OTC Markets Changes GenTech Status, Company Fields Growing Orders in $26B Specialty Coffee Market
New York, New York–(Newsfile Corp. – March 10, 2020) – GenTech Holdings, Inc. (OTC Pink: GTEH) (“GenTech” or the “Company”), an emerging leader in the high-end Specialty Food and Beverage marketplace, announces that the OTC Markets Group (the “OTC”) downgraded the Company’s status on OTCmarkets.com. This step took effect on March 5, after markets closed. The OTC has given GenTech 30 days to provide its legal response. The Company has already begun this process, and will keep shareholders abreast of all new developments.
“We look forward to working closely with the terrific team at the OTC to get this sorted out as quickly as possible,” noted David Lovatt, CEO of GenTech. “In the meantime, we want our shareholders to know that business continues to pick up steam. We are seeing the early stages of revenue growth as a groundswell of new orders come in daily for Secret Javas subscriptions.”
The Company launched the Secret Javas specialty coffee subscription service last week. Since that launch, management notes that customer orders have been steadily increasing to impressive levels.
The specialty coffee subscription market is a large and rapidly growing opportunity. According to Forbes, the subscription market for household goods grew by 890% between 2014 and 2018. Additional analysis suggests the same trend has been accelerating since 2018. But the largest gains from a mainstreaming shift have yet to occur. According to YouGov, only 7% of US households currently subscribe to a food or beverage product online leaving massive growth ahead.
“We continue to be convinced that the specialty coffee subscription market is ripe for transformative growth as consumer behavior continues to evolve into the niche of 21st century technological and logistical trends,” continued Lovatt. “One might also stretch a case that fears related to the coronavirus will impact consumer behavior patterns, driving more consumers into ecommerce and subscription delivery services such as Secret Javas.”
About GenTech Holdings, Inc.
GenTech Holdings, Inc. is a publicly traded company under the symbol GTEH. The company is creating a national chain of Hemp Centric Coffee Shop Retail Spaces where patrons can relax, drink CBD infused Teas and Coffees, try various own-brand products and experience holistic education and classes. The company is also building an extensive outreach program working with medical practitioners across the country in their own locations to educate their patients and increase awareness of the benefits of THC free CBD Products. All of this is offered under the brand ‘The Healthy Leaf’.
This press release may contain forward-looking statements, including information about management’s view of GenTech, Inc.’s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words “believes,” “expects,” “intends,” “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of GenTech, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on GenTech’s future results. The forward-looking statements included in this press release are made only as of the date hereof. GenTech cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, GenTech undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by GenTech.