Revenue Composition - FOCUSfactor represents 64% of the company's revenue, while the Flat Tummy brand accounts for 32%[15][16]. - The company relies heavily on Costco and Walmart, which together comprise 78% of net revenue from retail sales[23]. Sales Strategy - The company plans to diversify its sales network and expand online sales channels to enhance market penetration[19][27]. Research and Development - The company outsources research and development to manufacturers experienced in product development[20]. - FOCUSfactor is the only product in its category with both a patent and clinical study supporting its claims[29]. - The company has a patent (U.S. Patent 8,329,227) for FOCUSfactor's formulation, which enhances mental function[25]. Workforce and Growth - The company had 36 full-time employees as of April 2020 and plans to grow its workforce in response to business demands[34]. - The company intends to continue developing product extensions and expanding into new markets[14]. Risk Factors - The COVID-19 pandemic poses risks that could disrupt business operations and impact financial conditions[35]. - The company is focused on compliance with applicable laws and regulations, which may impact future operations[30][33].
Synergy CHC Corp.(SNYR) - 2019 Q4 - Annual Report