March 19, 2014
ForeverGreen Exceeding Company Expectations
In recent weeks, ForeverGreen Worldwide (OTCQB – FVRG - $1.66 – Spec Buy) has issued a series of press releases that indicate the Company is exceeding its original expectations for 2014.
Earlier this month, ForeverGreen announced that February 2014 revenue exceeded February 2013 performance by more than 300%. This news comes on the heels of an earlier release proclaiming that January 2014 revenue exceeded January 2013 revenue by more than 160%. Not only is the Company hitting on all cylinders but the rate of top-line growth is accelerating and it is possible that monthly revenue could approach the $3 million mark and first half revenue could approach the $16 - $18 million in revenue slated for the entire year in 2013.
We should note it is unreasonable to expect these levels to be sustained throughout the year. However, they provide insight into the outperformance of the first two months, relative to original management expectations of $35 - $40 million for this year. Moreover, the Company appears to be properly managing growth and the diversification of revenue going forward, as investors should expect the introduction of new products this year that should generate a few million in revenue alone. Plus, management has set the stage for an even stronger infrastructure in order to sustain high revenue growth rates. For example, continues to add distributors at record rates and by mid-year, ForeverGreen expects to double the current number of active distributors. Just as important as the addition of new distributors is the change in marketing structure. The Company recently modified the structure to seamlessly connect FGXpress and ForeverGreen to allow more cross selling capabilities among all of the company’s products and further strengthen distributor retention.
At current levels, the shares appear to be dirt cheap, considering the hockey stick-type revenue growth FVRG is experiencing. Moreover, the higher the growth rate at these levels, the more likely that profitability will be greater as well this year. It is possible that as the Company releases its 2013 and 1Q14 financial results, these shares will come under major accumulation. Since management’s plan is to up-list the shares to a senior exchange in the coming quarters, opportunistic investors can enjoy the potential of outsized gains based on fundamentals, valuation, and the commencement of the up-listing process.
For more information, refer to our previous sponsored FVRG Reports, Updates and Hot Topics by visiting www.GoldmanResearch.com
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Senior Analyst: Robert Goldman
Rob Goldman founded Goldman Small Cap Research in 2009 and has over 20 years of investment and company research experience as a senior research analyst and as a portfolio and mutual fund manager. During his tenure as a sell side analyst, Rob was a senior member of Piper Jaffray's Technology and Communications teams. Prior to joining Piper, Rob led Josephthal & Co.'s Washington-based Emerging Growth Research Group. In addition to his sell-side experience Rob served as Chief Investment Officer of a boutique investment management firm and Blue and White Investment Management, where he managed Small Cap Growth portfolios and The Blue and White Fund.
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