NuVim, Inc. Lewes Delaware (NUVM) (OTC Markets) founded in 1999 will file their 3rd quarter 2016 financial data in November. It is not expected to substantially change their short term financial picture from the second quarter filing. However, the filing will provide a more complete view of the short term business initiatives to deliver Company growth and profit.
The NuVim second quarter filings, posted on the OTC Markets, reported that the Company reduced their $1.2 million short term debt to zero while maintaining a reasonable level of outstanding common shares at about 90 million. NuVM is authorized 120 million common and 65 million in preferred. None of the preferred has been issued. The long term debt, due in 2019, is just over a $100,000.
NuVim also stated that they are working on a product line reformulation in conjunction with medical professionals in the field, dietary experts and technical product development consultants. The newly improved products expected to be launched next year will address many consumer health concerns across several population segments. A few of the consumer benefits of the new improved product line will include enhancing the fight against daily fatigue, assists in immune health and bone and muscle health. The all natural product will contain many essential vitamins and minerals, low caloric per serving, a good source of fiber and no caffeine, cholesterol, lactose, gluten, or fat.
In addition to the internal growth initiatives, NuVim continues to seek the right business partner. NuVim feels that their limited long term debt, no short term debt, low level of outstanding shares, and the $24 million in accumulated Net Operating Losses to offset future profits of the combined company makes NuVim an attractive partner candidate.