GROUPE ATHENA, INC. RELEASES YEAR END FINANCIALS, CONTINUES RECORD REVENUE AND EARNINGS GROWTH
August 05 2013 - 5:24PM
OTC Markets
Mumbai, India. August4,
2013.
Groupe Athena, Inc. (Pink sheets GATA.PK) is
very excited to post the results for their fiscal year ending June
30, 2013. Annual revenue for the period was $56,457,443 which is an
increase of more than 26% over the previous fiscal year and
represents another new benchmark for the company. EBITDA for the
year was also strong at $8,956,726 and net after tax income for the
period was $5,440,694 or $.12 per share.
Current assets have risen to $10,287,188 as of
June 30 andconsist of primarily cash and short term investments.
The company does expectto use a portion of their retained earnings
to begin the outfitting of theirrecently purchased new testing
facility, and to pursue other anticipated growthinvestments to be
announced.
Company Chairman, D. Purohit stated, "This is
a very exciting time for Groupe Athena, Inc. as we transition from
a start-up company to an established regional pharmaceutical force.
As we develop new global and regional relationships, and as
dynamics within our industry evolve, we are seeing many exciting
opportunities unfold that we hope to capitalize on in the near
term".
As previously stated, the company plans to
apply for listing on the NASDAQ Bulletin Board quotation system and
hopes to have all relevant SEC filings submitted and subsequent SEC
approval by the fiscal year end.
To review the complete quarterly report please
go to www.otcmarkets.com/stock/GATA/quote and click on
"Financials"
The Indian pharmaceutical industry is increasingly focusing on
exports to the United States and GATA is well positioned to help
them get their products approved by the FDA for sales in the US.
All of these are potential clients and the Company believes it has
an advantage over competitors due to the facilities based in India,
and their ability to deliver quick feedback to clients that could
result in expedited order generation. With recent additions to
equipment, the company will continue to take on additional
contracts and continue to anticipate further growth.
About
Groupe Athena, Inc.
Groupe Athena Inc. was incorporated
in June 2008 and began operations on July 1 of that year. The
company is a research and testing organization and helps various
pharmaceutical and medical products and devices companies in India
and Southeast Asia to get regulatory approvals and facilitate
exports of their products to the United States. The Company
accomplishes this by assisting clients from concept through
development, providing consultation on regulatory requirements,
filings and processes.
The company has a research and
marketing facility in India that currently employs 17
consultants and marketing personnel and is working towards
aggressively expanding its presence in the Indian pharmaceutical
industry. The Company's web address is
www.groupeathena.com.
For more information contact:
Paul Cornell
Corporate Shareholder Relations, Inc.
Cornelllpaul6@gmail.com
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Statement
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"forward-looking statements.Forward-looking statements include,
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indicate, or imply future results, performance or achievements, and
may contain the words "estimate","project", "intend",
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"will likely","should", "could", "would", "may" or words or
expressions of similar meaning. Such statements are not guarantees
of future performance and are subject to risks and uncertainties
that could cause the company's actual results and financial
position to differ materially from those included within the
forward-looking statements. Forward-looking statements involve
risks and uncertainties, including those relating to the Company's
ability to grow its business. Actual results may differ materially
from the results predicted and reported results should not be
considered as an indication of future performance. The potential
risks and uncertainties include, among others, the Company's
limited operating history, the limited financial resources,
domestic or global economic conditions -- activities of competitors
and the presence of new or additional competition and conditions of
equity markets.