ds healthcare group inc (DSKX) Key Developments
DS Healthcare Group, Inc. Announces Board Changes
Apr 30 15
Effective April 29, 2015 Matthew Pfeffer resigned as director of DS Healthcare Group, Inc. Mr. Pfeffer has not expressed any disagreement with the company on any matter relating to the company's operations, policies or practices. Mr. Pope, a current director of the company, has been appointed to serve as the company's Audit Committee chairman following Mr. Pfeffer's resignation. Effective April 29, 2015, the board of directors appointed Michael Pope to fill the recently created vacancy on the company's board of directors. Mr. Pope shall also serve on the company's audit, compensation and nominating committees. Mr. Pope has served as managing director
of Vert Capital Corp., since October 2011.
DS Healthcare Group Regains Compliance With NASDAQ Listing Requirements
Apr 30 15
DS Healthcare Group, Inc. announced that it has regained compliance with the listing requirements of the NASDAQ Capital Market. As previously reported, on December 16, 2014, NASDAQ notified the Company that its common stock was not in listing compliance as it failed to maintain a minimum bid price of $1.00 over the previous 30 consecutive business days as required by NASDAQ's listing rules. On April 29, 2015, the Company received a notice from the NASDAQ indicating that since the closing bid price of the Company's common stock had been at $1.00 per share or greater for the last 10 consecutive business days, the Company has regained compliance with Listing Rule 5550(a)(2) and this matter is now closed.
DS Healthcare Group, Inc. Begins Shipping Continuum on April 24, 2015 to Distributors in United State and Abroad
Apr 16 15
DS Healthcare Group, Inc. announced that Continuum, the latest addition to its existing product portfolio would begin shipping on April 24, 2015 to distributors in the United States and abroad. Continuum is a three-step treatment that includes Ro-Maxx Quantum Creator, Ro-Zen Quantum Optimizer, and Ro-Topia Fractal Energizer. This treatment was developed due to the tremendous demand for professional services designed to protect one's hair during bleaching and coloring, which represents a multi-billion dollar services industry. A chemical reaction which occurs during bleaching or coloring opens the cuticle and oxidizes melanin to help remove pigment, but can also leave hair structurally damaged. Continuum is a completely new innovation assembled with the use of proprietary technology developed by DS Healthcare, which instantly repairs hair strands and restores hair to its optimal state within minutes.
DS Healthcare Group, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Announces Impairment Charges for the Fourth Quarter of 2014
Apr 15 15
DS Healthcare Group, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the year, the company's net revenue was $13,414,265 compared with $13,651,661 a year ago. Net revenues decreased primarily due to a decrease in US net revenue which was offset by increases in net revenues generated through its Mexican subsidiary which grew by 31.7% that were slightly offset due to a stronger dollar compared to the Mexican peso and impacted by shipments from the fourth quarter that have rolled into the first quarter in 2015. Operating loss was $1,265,843 compared with $3,003,165 a year ago. Loss before income taxes was $1,312,159 compared with $3,129,257 a year ago. Net loss attributable to common shareholders was $1,305,955 or $0.08 per basic and diluted share compared with $3,209,431 or $0.25 per basic and diluted share a year ago. Net cash used in operating activities was $1,508,764 compared with $980,057 a year ago. Purchase of furniture and equipment was $130,079 compared with $46,794 a year ago. On an adjusted EBITDAS basis, 2014 resulted in a loss of $406,271 share compared to a loss of $1,169,338 in 2013.
For the quarter, the company's net revenues were $3,706,761, an increase of 21% over revenues of $3,058,626 in the year-earlier period. Revenue growth in the fourth quarter was driven by higher sales from the company's Mexican subsidiary, increased revenue from international markets and a resumption of growth in its domestic sales. The company reported net loss narrowed by 125% to a net income of $227,662 in the quarter compared to a net loss $944,859 in the same period of 2013. On an adjusted EBITDAS basis, the fourth quarter of 2014 resulted in a gain of $1,007,847 compared to a loss of $399,789 in the year-earlier period.
The company announced impairment of intangible assets of $51,736 for the fourth quarter ended December 31, 2014.
DS Healthcare Group, Inc. announced delayed annual 10-K filing
Apr 1 15
On 04/01/2015, DS Healthcare Group, Inc. announced that they will be unable to file their next 10-K by the deadline required by the SEC.