PALM CITY, Fla., Aug. 15, 2011 (GLOBE NEWSWIRE) -- GelStat Corporation (Pink Sheets:GSAC), a consumer healthcare company primarily focused on the development and marketing of over-the-counter (OTC) products for the safe and effective treatment of pain, inflammation and sleep disorders, is pleased to update shareholders on recent events.
Since our last update to shareholders, the following projects have been completed:
– Reduced the outstanding debt by over $1,000,000 and settled virtually all outstanding judgments against the Company.
– Engaged an investment banking firm to pursue strategic opportunities.
– Signed a distribution agreement with a healthcare products company in Turkey and received approval to distribute GelStat Migraine in Turkey from its Ministry of Health.
– Significantly increased website traffic through Search Engine Optimization (SEO) efforts.
Our primary objectives moving forward will be focused on the following efforts:
– Driving revenue growth by implementing advertising campaigns.
– Pursuing strategic relationships.
– Filing periodic reports with the SEC in order become current.
In summary, we have made significant progress over the last few months and we are very excited about the future for GelStat Corporation. We appreciate the continued support from our shareholders and will give further updates as we achieve progress on the goals outlined above.
Sincerely,
Gerald N. Kieft
CEO
GelStat Corporation
ABOUT GELSTAT CORPORATION
GelStat Corporation is dedicated to providing safe and effective over-the-counter (OTC) treatments for pain, inflammation and sleep disorders. GelStat's first two products GelStat Migraine and GelStat Sleep are sold through direct-to-consumer channels as well as in a limited number of independent retailers and pharmacies. The Company also has a suite of additional healthcare products in various stages of development that address large consumer markets. For more information, visit www.gelstat.com.
Safe Harbor Statement
This press release contains forward-looking statements including our focus on driving revenue growth, pursuing strategic relationships and becoming current with our SEC filings. Forward-looking statements can be identified by words such as "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects" and similar references to future periods.
Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. We caution you therefore against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements include the failure of our products to be accepted and the inability to get our reports prepared and filed timely.
Any forward-looking statement made by us in this press release speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.