PALO ALTO, CA, Jan. 9, 2014 /CNW/ - The PAWS Pet Company, Inc. (OTCQB:PAWS), is pleased to announce that on December 31, 2013, PAWS closed the acquisition of Mesa Pharmacy Inc. ("Mesa").
Preliminary unaudited gross revenue numbers for fiscal year 2013 appear to have exceeded $15,000,000, almost half of which occurred in the fourth quarter of 2013. While December is generally a slow month for Mesa, preliminary results show Mesa shipped close to $2,000,000 in prescriptions during December. Expected sales for January are expected to exceed November's sales of more than $3,000,000. Mesa already has $2,000,000 in in prescription orders in hand which are expected to be shipped during the week of January 13, 2014.
Furthermore, Mesa has obtained financing against a portion of its 2013 Accounts Receivables received more $1,200,000 on January 3, 2014 for marketing expenses and working capital.
Several action items remain following the closing which including changing the name of the Company to "Praxsyn Corporation", among others.
About The PAWS Pet Company, Inc.
The PAWS Pet Company, Inc. is undergoing a transition from the pet space to the pharmaceutical space. This exciting transition strategy has been developed to take advantage of the changes underway in traditional medical services. PAWS believes that great opportunities exist in pharmaceuticals and how they are delivered to the public.
About Mesa Pharmacy, Inc.
Mesa focuses on providing custom compounded non-narcotic, transdermal topical pain medications that are marketed to industrial health physicians and clinics. Mesa compounds a series of topical ointments, in different strengths, that provide the pain relief doctors seek and that are neither addictive, nor habit forming. As a result, physicians and insurers need not worry about treating an injured worker and winding up having to treat that worker's potential addiction to pain killing narcotics.
For more information on The PAWS Pet Company go to: www.thepawspetcompany.com
Certain statements made in this press release are forward-looking in nature (within the meaning of the Private Securities Litigation Reform Act of 1995) and, accordingly, are subject to risks and uncertainties. The actual results may differ materially from those described or contemplated and consequently, you should not rely on these forward-looking statements as predictions of future events. Certain of these risks and uncertainties are discussed in the reports we filed with the SEC.
SOURCE: The PAWS Pet Company, Inc.
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