Spark Plug Pipe

NutraFuels, Inc. (OTCQB:NTFU) (“NTFU” or the “Company”), a manufacturer and distributor of CBD and nutritional spray products and tinctures, announces its financial results for the three (3) and nine (9) month period ended September 30, 2018 with revenue of $1,062,146 and $2,870,462 respectively compared to $652,385 and $1,027,727 for the three (3) and nine (9) month period ended September 30, 2017.

NUTRAFUELS, INC.Condensed Consolidated Statements of Operations(Unaudited)

                                                                    For the Three Months Ended            For the Nine Months Ended                                                                    September 30, 2018 September 30, 2017 September 30, 2018 September 30, 2017                                                                                                                  Revenue                                                     $ 1,062,146        $ 652,385          $ 2,870,462        $ 1,029,727                                                                                                                  Cost of sales                                               775,191            334,699            1,503,468          617,958                                                                                                                                     Gross Profit                   286,955            317,686            1,366,994          411,769                                                                                                               OPERATING EXPENSES:                                                                                                    Sales, advertising and promotion                            139,890            266                178,064            51,151      Officer salaries                                         87,000             25,000             239,000            221,330      Noncash compensation                                     183,453            8,493,180          1,167,290          19,134,686      General and administrative expenses                      547,956            308,226            1,190,180          815,035      Depreciation expense                                     10,824             17,622             96,852             50,841                Total operating expenses             969,123            8,844,294          2,871,386          20,273,043LOSS FROM OPERATIONS                                                     (682,168)          (8,526,608)        (1,504,392)        (19,861,274)                                                                                                               OTHER INCOME AND (EXPENSE)                                                                                             Other income                                                8,928              -                  12,537             -      Other expense                                            (10,407)           -                  (10,407)           -      Gain on settlement of debt                               -                  -                  -                  717      Induced debt conversion loss                             -                  -                  (18,004)           (3,117,125)      Finance costs                                            (24,030)           -                  (24,030)           -      Interest expense                                         (9,450)            (583)              (9,937)            (224,530)                Total other income (expense)         (34,959)           (583)              (49,841)           (3,340,677)Net loss before income taxes                                             (717,127)          (8,527,191)        (1,554,233)        (23,202,212)       Income tax expense                                      -                  -                  -                  -Net loss                                                                 $  (717,127)       $  (8,527,191)     $ (1,554,233)      $ (23,202,212)                                                                                                               Loss per weighted average common share - basic and diluted               $ (0.01)           $ (0.12)           $ (0.02)           $ (0.33)                                                                                                               Number of weighted average common shares outstanding - basic and diluted 88,635,101         73,403,796         85,997,383         70,266,530

 

NUTRAFUELS, INC.Condensed Consolidated Balance Sheets

ASSETS                                                                                                                                     September 30, 2018 December 31, 2017                                                                                                                                      (Unaudited)CURRENT ASSETS                                                                                                                                                 Cash and cash equivalents                                                                                                   $ 210,190          $ 172,948     Accounts receivable, net                                                                                                    20,537             -     Inventory                                                                                                                   429,605            162,194     Prepaid expenses and other current assets                                                                                   164,856            332,460                Total current assets                                                                                   825,188            667,602                                                                                                                                                     PROPERTY AND EQUIPMENT                                                                                                                                         Furniture, fixtures and equipment                                                                                           1,251,293          425,005     Leasehold improvements                                                                                                      422,105            154,842          Total property and equipment                                                                                 1,673,398          579,847                 Less accumulated depreciation                                                               (390,168)          (293,317)                                                                                                                                                                        Property and equipment, net                                                               1,283,230          286,530                                                                                                                                                                                                                                                                                                          Total Assets                                                                                                                               $ 2,108,418        $ 954,132                                                                                                                                                     LIABILITIES AND STOCKHOLDERS' EQUITY                                                                                                                      CURRENT LIABILITIES                                                                                                                                             Accounts payable                                                                                                           $ 292,401          $ 87,504      Accrued expenses                                                                                                           421,602            206,105      Customer deposits                                                                                                          202,832            -      Current portion of capital leases                                                                                          959                -      Liability for shares to be issued                                                                                          74,637             -                                                                                                                                                                     Total current liabilities                                                                              992,431            293,609                                                                                                                                                     LIABILITIES                                                                                                                                                     Capital leases, net of current portion                                                                                     18,220             -      Convertible note, net of unamortized discount of $299,495 and $0                                                           80,504             -                                                                                                                                                                     Total liabilities                                                                                      1,091,155          293,609                                                                                                                                                     STOCKHOLDERS' EQUITY                                                                                                                                         Preferred stock, $0.0001 par value, authorized 10,000 shares; 1,000 shares issued and       outstanding                       -                  -   Common stock, $0.0001 par value, authorized 499,990,000 shares; 90,067,069 and       81,448,561 issued and outstanding shares 9,007              8,144      Additional paid-in capital                                                                                                 35,321,409         33,411,300      Accumulated deficit                                                                                                        (34,313,153)       (32,758,921)                                                                                                                                                                     Total stockholders' equity                                                                             1,017,263          660,523Total Liabilities and Stockholders' Equity                                                                                                 $ 2,108,418        $ 954,132

 

Forward Looking Statements

This press release contains statements of a forward-looking nature. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by words or phrases such as “may,” “will,” “except,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “future” or other similar expressions. NutraFuels, Inc. (“NTFU” or the “Company”) has based these forward-looking statements largely on the Company’s current expectations and projections about future events and financial trends that the Company believes may affect Company’s financial condition, results of operations, business strategy and financial needs. There is no assurance that Company’s current expectations and projections are accurate. All forward-looking statements in this press release are based on information available to the Company on the date hereof. These statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results to differ materially from those implied by the forward-looking statements. More detailed information about these risk factors are set forth in the Company’s filings with the Securities and Exchange Commission, including, but not limited to, those risks and uncertainties listed in the Section entitled “Risk Factors,” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 filed with the Securities and Exchange Commission on April 17, 2018. The Company operates in a rapidly evolving environment. New risk factors emerge from time to time, and it is impossible for the Company’s management to predict all risk factors, nor can the Company assess the impact of all factors on Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ from those contained in any forward-looking statement. The Company does not undertake any obligation to update or revise the forward-looking statements except as required under applicable law.

Contact:NutraFuels, Inc.6601 Lyons Road, Suite L-6Coconut Creek, FL 33073Telephone 888-509-8901www.NutraFuels.comwww.NutraHempCBD.com

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