FOR IMMEDIATE RELEASE FOR FURTHER INFORMATION AT CV HOLDINGS, INC:
Rick Koenigsberger or Ken Witkin
rkoenigsberger@cvhldgs.com or kwitkin@cvhldgs.com
Press Release
CV Holdings, Inc. Update and Financial Statements For Year Ended December 31, 2014.
Newport Beach, CA /PRNewswire/ — CV Holdings, Inc. (Other OTC: CVHL) (the “Company”) today reported a net loss for the year ended December 31, 2014 of $(959,261) or $(0.02) per common share with a weighted average of 39,294,748 common shares issued and outstanding during 2014. Taking into account the December 31, 2014 balance of 39,294,748 common shares issued and outstanding and 12,562,095 warrants and stock options outstanding, the net loss was $(0.02) per diluted common share.
The net loss for the year ended December 31, 2014 primarily resulted from general and administrative expenses associated with maintaining the personnel and infrastructure required to meet the Company’s growth goals. In addition, the Company incurred legal fees associated with the joint venture announced in October 2014.
For comparative purposes, for the year ended December 31, 2013 the Company reported a net loss of $(2,377,503) or $(0.07) per common share. Taking into account the 39,294,748 common shares issued and outstanding and 6,538,368 warrants and stock options outstanding, the 2013 net loss was $(0.05) per diluted common share. The change in net loss as compared to prior year was primarily due to
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