Innovest
Global October Update Features Strong Revenue, Several Major
Milestones
CLEVELAND,OH.
-- October 24, 2018 -- InvestorsHub
NewsWire
--
Innovest
Global Inc.
(USOTC : IVST)
(the "Company" or "Innovest"),
Commercial & Industrial Division continues to grow with
September being the second highest monthly sales achievement this
year, at $369K, marking $1,064,000 in third quarter revenue for the
division, with $857K in current assets and zero long-term debt.
There are several major items to report:
-
The Board of
'Authority National Supply' approved their pending company sale to
IVST by Super Majority Vote, representing approximately $30 million
in new annual revenue to Innovest;
As described in a previous Company Press Release on October 22,
2018, ceremonial closing scheduled Thursday at 5PM.
-
On
Friday October 19th we released our 2017 and 2016 independent
auditors report. The report verifies financial results for 2017 and
2016 by an independent auditor to PCAOB
standards.
We
are now preparing to file a 'Form 10' to register our security with
the Securities and Exchange Commission.
-
Shepherd
Energy, an Innovest
Company,
signed two new sales contracts for the DCR100 technology solution
(a new technology we announced and launched earlier this year).
These contracts will represent $349,000 in revenue for the
company.
-
A
new contract for Contact Source Solutions was signed indicating
approximately $600,000 in annual billing. Contact Source Solutions
has added an additional 10 new employees as a result of contract.
On 9/21/18 the client asked for 5 seats & then added another 5,
we have now filled all 10 and are in full billable
production.
-
Chagrin Safety
Supply, an Innovest
Company, won a
bid and then delivered a shipping container full of HAZMAT boots to
the United States Navy 10 days ahead of schedule, weighing in at
18,000 pounds.
-
Yesterday
marked the one-year anniversary of the first acquisition for
Innovest,
Chagrin Safety Supply.
At
that time Innovest
went from zero
revenue, to approximately $500,000 in annual revenue and since had
five subsequent acquisitions, which have resulted in a proven
business model and significant revenue growth.
-
Our ribbon
cutting ceremony and open house takes place tomorrow, October
25th.
We will be joined by members of the press, customers, friends, the
community and potential acquisition candidates.
-
Our open house
officially celebrates our new world headquarters in Geauga County,
Ohio. The 13000 ft will serve as our world headquarters and is now
home to several of our subsidiaries.
"I
could not be more
proud of our people,
from our contract installation crews, to our call center
representatives, marketing team, our acquisition team everyone
continues to execute at a very high level. The company is
laser-focused, on what used to be general long-term goals, but are
now specific and right in front of us. I am very excited about
how Innovest
is
positioned right now," said Dan Martin, Innovest's
Chairman and
Chief Executive Officer.
About
Innovest
Global,
Inc.
Innovest
Global, Inc.
(USOTC : IVST)
is in the Conglomerates industry, a diversified holding company
with operations in commercial and industrial products and services,
energy, biotechnology, and health services. Our primary growth
strategy is to acquire existing companies in a select few
industries, and attract new customers in cost effective ways.
Currently, we have a Commercial & Industrial Division, a
Biotechnology & Health Services Division, and our new Building
Materials Division.
For more
information, please visit: http://www.innovestglobal.com,
and follow us on Twitter and
Facebook @innovestglobal.
Forward-Looking
Statements
This press
release 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. All statements other than
statements of historical facts included in this press release are
forward-looking statements. These statements relate to future
events or to the Company's future financial performance, and
involve known and unknown risks, uncertainties and other factors
that may cause actual results, levels of activity, performance or
achievements to be materially different from any future results,
levels of activity, performance or achievements expressed or
implied by these forward-looking statements. Investors should not
place any undue reliance on forward-looking statements since they
involve known and unknown, uncertainties and other factors which
are, in some cases, beyond the Company's control which could, and
likely will, materially affect actual results, levels of activity,
performance or achievements. Any forward-looking statement reflects
the Company's current views with respect to future
events and is
subject to these and other risks, uncertainties and assumptions
relating to operations, results of operations, growth strategy and
liquidity. Such risks, uncertainties and other factors, which could
impact the Company and the forward-looking statements contained
herein are included in the Company's filings with the OTC Markets.
The Company assumes no obligation to publicly update or revise
these forward-looking statements for any reason, or to update the
reasons actual results could differ materially from those
anticipated in these forward-looking statements, even if new
information becomes available in the future.
Contact
Information
Corporate
Office:
(216)
815-1122
info@innovestglobal.com
Twitter
@innovestglobal
Investor
Relations:
Hayden
IR
(917)
658-7878
hart@haydenir.com
