SOURCE: The Radiant Creations Group, Inc.
LAKE PARK, FL--(Marketwired - October 31, 2013) - The Radiant Creation Group, Inc. (OTCBB: RCGP) ("Radiant") ("RCGP"), developer of unique, proprietary scientific technologies and cosmetic over-the-counter products, is pleased to provide the market with its second quarter financials for the period ending August 31, 2013. The full 10-Q filing is available on the SEC's website:
Second quarter ending August 31, 2013 provided initial revenue of $37,672; the revenue was the first revenue the Company has achieved following the change in control. Net loss for the quarter ended August 31, 2013 was $1,031,484, which included $795,489 of one-time cost and accounting adjustments related to the asset purchase dated June 27, 2013.
On June 27, 2013, the Company entered into an Asset Purchase Agreement with The Renewable Corporation, a Washington corporation and its wholly owned subsidiary Renewable Bioscience Technologies, Inc., a Florida corporation to purchase their license, certain assets and processes to innovative technologies in skin protection from the sun, industrial UV sources (such as welding), and reducing collateral damage from medical radiation treatment which consists of various patented skin products. The purchase of the assets by the Company has been the key metric allowing the Company to generate its initial revenue. The initial revenue was generated by the sale of the recently completed Revivasol (www.revivasol.net) product.
Gary Smith, CEO, Radiant stated "We are proud to provide our financials to the investing public and to show our initial revenue. We were able to complete our first product, Revivasol, in the last week in August and we saw immediate sales. With Revivasol now completed we are looking forward to the rapid increase in revenue over the next months. We have worked meticulously to provide a compelling product for the cosmetics sector, to establish productive and elegant sales channels and to market Revivasol as aggressively as possible. Continued infusion of capital of investment capital will help fuel the growth of the Company and enable us to complete the development of additional product lines for our customers."
About The Radiant Creations Group, Inc. (RCGP)
Radiant Creations has achieved exciting breakthroughs creating remarkable products in skin protection and hydration, anti-aging, liver health and weight balance by combining DNA technologies developed in the Western World and naturally acting traditional Chinese medicine ingredients believed never before used in western culture by any bioscience company.
Among these exciting discoveries is a new and superior mechanism of defense against skin deterioration and damage caused by sun exposure to ultraviolet (UV) light using the nucleotides, four "code molecules" extracted from DNA. This revolutionary mechanism also has great significance and value in many other cosmetic and non-cosmetic applications requiring UV protection, and is among Radiant Creation's licensed patented intellectual property. The technology will be implemented across numerous innovative product lines.
Cautionary Statement Concerning forward-Looking Statements:
This press release contains forward-looking statements. 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.
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.