NuGene International Inc (OTCBB:NUGN) a manufacturer, developer and marketer of unique skin and hair care products made of adipose derived human stem cells reported that it obtained a product purchase reorder from existing distributor firm, Glass Jar, Inc., amounting $301,450. The company confirmed that it supplied $225,997 of the ordered product with the balance products to be delivered in by end of this month.
Dr. Nima Shemirani, the Medical Director of Glass Jar, said that they are very thrilled to be carrying the NuGene’s hair rejuvenation and anti-aging skin care lines. They have finally discovered a product whose performance meets customers’ expectations.
During June 2015, NuGene obtained a new order from Dr. Alexander Duka, the CEO of myhealth.market with an initial order of worth $38,407. Dr. Duka stated that he has been intrigued by adipose human stem cell know-how for years and have finally discovered products supported by science. He has been amazed how fast the company has been growing and it is rapidly turning to be one of the best selling product lines. This month the company received second order from Dr. Duka for nearly $33,000 worth of company’s product.
Dr. Fady Elias of NuGene said that usually the cosmetics market is seasonal in nature with stronger sales expected in 3Q2015 and 4Q2015. The company is very thrilled seeing the increased demand for NuGene products earlier in the season. The marketing strategy and whitepaper studies have considerably lowered the barriers to entry following which company will persist to follow this strategy in the coming period. The company’s strength is its products, in-house advancements, patent pending formulations and proprietary technologies. NuGene patent portfolio contains four pending patents covering more than 10 unique applications.
The gain of 3.68% made in the last trading session was good for the NuGene International Inc (OTCBB:NUGN) bulls but more encouraging was the shape of the daily candle. The final closing of the day took place at the high of the day at $3.10, also nearly 7% higher from the day low of $2.89. This is definitely a corrective phase which is strengthened up by the volume pattern. Yesterday’s volume of 243,000 was markedly lower than the daily average of 450,000. The first sign of a higher low is already visible and now a higher high would signal the end of correction.