0001117768-15-000626.txt : 20150812 0001117768-15-000626.hdr.sgml : 20150812 20150812112107 ACCESSION NUMBER: 0001117768-15-000626 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20150812 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20150812 DATE AS OF CHANGE: 20150812 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HealthWarehouse.com, Inc. CENTRAL INDEX KEY: 0000754813 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-DRUG STORES AND PROPRIETARY STORES [5912] IRS NUMBER: 222413505 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-13117 FILM NUMBER: 151045985 BUSINESS ADDRESS: STREET 1: 7107 INDUSTRIAL ROAD CITY: FLORENCE STATE: KY ZIP: 41042 BUSINESS PHONE: (513) 618-0911 MAIL ADDRESS: STREET 1: 7107 INDUSTRIAL ROAD CITY: FLORENCE STATE: KY ZIP: 41042 FORMER COMPANY: FORMER CONFORMED NAME: HealthWarehouse, Inc. DATE OF NAME CHANGE: 20090818 FORMER COMPANY: FORMER CONFORMED NAME: CLACENDIX, INC. DATE OF NAME CHANGE: 20080107 FORMER COMPANY: FORMER CONFORMED NAME: ION NETWORKS INC DATE OF NAME CHANGE: 19990413 8-K 1 mainbody.htm MAINBODY mainbody.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.  20549
 
 
FORM 8-K
 
CURRENT REPORT
 
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
 
Date of Report (Date of earliest event reported):  August 12, 2015 (August 12, 2015)
 
 
logo
HealthWarehouse.com, Inc.
(Exact Name of Registrant as Specified in Charter)
 
 
Delaware
 
0-13117
 
22-2413505
(State or other jurisdiction
 
(Commission File Number)
 
(IRS Employer
of incorporation)
     
Identification No.)

7107 Industrial Road
   
 Florence, Kentucky
 
41042
(Address of principal executive offices)
 
(Zip Code)
 
Registrant’s telephone number, including area code:  (800) 748-7001

Not Applicable
(Former name or former address, if changed since last report)

 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
  o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 DFR 240.14a-12)
  o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  o
Pre-commencement communications pursuant to Rule 13e-4 (c) under the Exchange Act (17 CFR 240.13e-4(c))

 
 
 
 

 
 

 

 
 
 
 

Item 2.02      Results of Operations and Financial Condition

On August 12, 2015, Healthwarehouse.com, Inc. (the “Company”) issued a press release announcing its results of operations for the three and six months ended June 30, 2015.  A copy of the press release is included as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01      Financial Statements and Exhibits

(a)           Not applicable.

(b)           Not applicable.

(c)           Not applicable.

(d)           Exhibits

The following exhibits are included herewith.


*     The press release furnished as Exhibit 99.1 shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934.

 
 
 
 
 
 
 
 
- 2 -

 
 
 
 
 
 
 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
 
 
HEALTHWAREHOUSE.COM, INC.
   
   
   
Date:  August 12, 2015
By: /s/  Lalit Dhadphale                                                                         
 
 Lalit Dhadphale
 
 President and Chief Executive Officer


 
 
 
 
 
 
 
 
 

 

 
- 3 -

 

EX-99.1 2 exhibit991.htm EXHIBIT991 exhibit991.htm
EXHIBIT 99.1
logo
 
HealthWarehouse.com Reports 27.9% Quarterly Sales Growth Year over Year
Gross Margin Increases to 67% While Net Loss Narrows by 78.2%
 

(CINCINNATI, OH, August 12, 2015) -- HealthWarehouse.com, Inc. (OTCQB:HEWA), the only VIPPS accredited online and mail-order pharmacy licensed in all 50 states, today announced financial results for the quarter ended June 30, 2015.
 
For the quarter ended June 30, 2015, net sales improved to $1,870,840 up 27.9% from the quarter ended June 30, 2014.  Gross margin increased to 67% from 60% while net loss narrowed by 78.2% to ($79,681) for the quarter ended June 30, 2015 from ($365,042) for the quarter ended June 30, 2014.
 
For the quarter ended June 30, 2015, HEWA reported adjusted EBITDAS of $109,610, vs. adjusted EBITDAS of ($96,063) for the quarter ended June 30, 2014, an improvement of 214.1%.  The Company believes that adjusted EBITDAS (Earnings Before Interest, Taxes, Depreciation, Amortization and Stock-Based Compensation), a non-GAAP financial measure, is useful in evaluating its operating performance compared to that of other companies in our industry.
 
Our renewed focus to serve online consumers who pay out of pocket for their prescriptions is showing further gains financially with core online prescription and over-the-counter (OTC) revenue growth, positive operating income and significantly reduced net losses. Moreover, evidence that we are providing a valuable service is shared daily in our customer reviews,” said Mr. Lalit Dhadphale, President & CEO of HealthWarehouse.com.
 
A customer recently shared the following review, “These guys are awesome! I've been dealing with HealthWarehouse.com for a good many years and have never been anything but satisfied. I take quite a bit of medication and their prices for generic have been even lower than my copay with my insurance when I had been working. Now that I'm on Medicare I have a Part D plan for medication. Some generic drugs I take aren't even covered by the plan. So, I get them through HealthWarehouse.com. Reasonable prices, quick delivery, exceptional customer service. The guys are awesome!”
 
2nd Quarter 2015 Highlights:
 
     Net Sales:  Increased by $408,386 or 27.9% compared to the 2nd Quarter of 2014, due to increases in all business segments.
 
     Gross Profit: Increased by $380,889 or 43.7% compared to the 2nd Quarter of 2014 due to the sales growth and increasing margins to 67% from 60%.
 
     Net Loss:  Improved by $285,361 or 78.1% compared to the 2nd Quarter of 2014 as a result of the increased net sales and reduced operating expenses as detailed above.
 
About HealthWarehouse.com
 
HealthWarehouse.com, Inc. (OTCQB:HEWA) is a trusted VIPPS accredited online pharmacy based in Florence, Kentucky.  The Company is focused on the growing out of pocket prescription market, which is expected to grow to $80 billion in 2015.  With a mission to provide affordable healthcare to every American by focusing on technology that is revolutionizing prescription delivery, HealthWarehouse.com has become the largest VIPPS accredited online pharmacy in the United States.

HealthWarehouse.com is licensed in all 50 states and only sells drugs that are FDA-approved and legal for sale in the United States. Visit HealthWarehouse.com online at http://www.HealthWarehouse.com.
 
 
 
 
 

 
Page 1 of 2

 
 
 
 


Forward-Looking Statements
 
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results may differ significantly from management's expectations. These forward-looking statements involve risks and uncertainties that include, among others, risks related to competition, management of growth, new products, services and technologies, potential fluctuations in operating results, international expansion, outcomes of legal proceedings and claims, fulfillment center optimization, seasonality, commercial agreements, acquisitions and strategic transactions, foreign exchange rates, system interruption, inventory, government regulation and taxation, payments and fraud. More information about factors that potentially could affect HealthWarehouse.com's financial results is included in HealthWarehouse.com's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and subsequent filings.

Use of Non-GAAP Measures
 
HealthWarehouse.com, Inc. (the "Company") prepares its condensed consolidated financial statements in accordance with the United States generally accepted accounting principles ("U.S. GAAP"). In addition to disclosing financial results prepared in accordance with U.S. GAAP, the Company discloses information regarding adjusted EBITDAS, which differs from the term EBITDA as it is commonly used. In addition to adjusting operating loss to exclude interest, depreciation and amortization, adjusted EBITDAS also excludes stock issued for services, and certain other non-cash charges. Adjusted EBITDAS is not a measure of performance defined in accordance with U.S. GAAP. However, adjusted EBITDAS is used internally in planning and evaluating the Company`s performance. Accordingly, management believes that disclosure of this metric offers investors, bankers and other shareholders an additional view of the Company`s operations that, when coupled with the GAAP results, provides a more complete understanding of the Company’s financial results.

Adjusted EBITDAS should not be considered as an alternative to net loss or to net cash used in operating activities as a measure of operating results or of liquidity. It may not be comparable to similarly titled measures used by other companies, and it excludes financial information that some may consider important in evaluating the Company`s performance. The following provides a reconciliation of net loss to Adjusted EBITDAS:
 
   
For the Three Months Ended
   
For the Six Months Ended
 
   
June 30,
   
June 30,
 
   
2015
   
2014
   
2015
   
2014
 
   
(unaudited)
   
(unaudited)
 
                         
Net loss
  $ (79,681 )   $ (365,042 )   $ (280,469 )   $ (670,683 )
Non-GAAP adjustments:
                               
Interest expense
    45,205       85,617       119,957       159,153  
Depreciation and amortization
    46,313       42,266       91,974       83,887  
Gain on settlement of accounts payable
    (21,790 )     -       (87,969 )     -  
Imputed value of contributed services
    -       29,167       -       116,667  
Stock-based compensation
    119,563       105,500       198,568       268,263  
Change in fair value of collateral securing
                               
     employee advances
    -       6,429       2,143       4,715  
                                 
Adjusted EBITDAS
  $ 109,610     $ (96,063 )   $ 44,205     $ (37,998 )
 
 
Contact:
 
Mr. Lalit Dhadphale, CEO
lalit@healthwarehouse.com, (859) 444-7341
 
 
 
 
 

 
Page 2 of 2

 

 
 
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