Seeking roughly a $50 million valuation, the CA-based direct seller of fitness apparel filed for an initial public offering reporting sales last year of $11,689,200 against $8,773,025 prior and a loss of $5,652,192 in 2018 against $3,832,566. Through the first quarter ended Mar. 31, sales gained 10% to $2,717,423 vs. $2,459,905 and the net loss after preferred dividends expanded to $2,235,106 from $1,204,629. The offering looks to raise a net of $15 million for a 30% interest in the company.

As of now, the company sources about 75% of its products from China, which will give it heavy exposure to the ... Log in to view full article.