Recap of 2020 Activities and Major Accomplishments and Provides an Outline of Its New Vision for 2021
Houston, TX, May 19, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Movement Industries Corporation (OTC PINK: MVNT) (the “Company”) is excited to provide an update to highlight the accomplishments during the past year which included the burden of COVID-19. Mr. Linh Nguyen, CEO of the Company, stated: “We are proud to report that our company is on a solid foundation and continues to accomplish its goals of increasing shareholder value and maximizing revenue and profit growth during these turbulent times.”
The Company would like to highlight several major accomplishments from 2020 and 2021 thus far:
· The Company is now current and in good standing pursuant to Pink Sheet regulations and guidelines.
· The Company hopes to do another friends and family round at approximately $0.10 in future.
· No director, officer or employee of the Company has sold any of their private placement shares including participants in the Company friends and family offering.
· The Company has acquired Hi-Alloy Valve, LLC and it expects several other acquisitions or mergers by 4Q21. The Company hopes to announce letters of intent for these new acquisition or merger targets in the future.
· The Company intends to be OTC QB qualified by 3Q21. After potential upcoming acquisitions or mergers, the Company intends to become fully audited pursuant to federal guidelines and regulations.
· Manufacturing is still the core competency of the Company’s business, and since its machining capabilities are agnostic to any particular industry, the Company is able to quickly move into new industries and capitalize on specific opportunities as they present themselves.
· The Company originally planned to achieve approximately $100MM in revenue through acquisitions or mergers; however, now the Company has a game plan to meet this goal organically.
· Departure of the Company’s president, Luis Beita – The Company wishes him the best on his new endeavors.
The Company’s main business units are:
· Manufacturing Solutions – contract manufacturing, machining and job fabrication utilizing state of the art, multi-axis CNC machines and equipment, water jet cutting, welding and fabrication. Manufacturing solutions is the Company’s core competency and should allow it to manufacture multiple products for many industries.
· Upstream Solutions – artificial lift, site construction, site operation, site maintenance, asset management, predictive monitoring to prevent unexpected downtime, flow control and other products used at the well site.
· Downstream Solutions – turnaround services, turnaround equipment rental, predictive asset monitoring to prevent unexpected downtime, tower internals, flow control and other products used in refineries and petrochemical plants.
· Flow Control Solutions – API 6A & 6D valves made in the United States, patented pumps for chemical injection and artificial lift, electric, pneumatic and hydraulic valve actuation and product support for our upstream and downstream solutions.
· Technology Solutions – IoT platform, intellectual property licensing, SaaS monitoring solutions and monitoring support for our upstream, downstream and flow control solutions.
· Agricultural Solutions – dryers, irrigation systems, greenhouse construction and equipment and industrial-grade, continuous hemp extraction units with capacities from 0.5-ton to 20-tons per day.
In closing, Mr. Nguyen had this to say, “Despite the difficulties of Covid, we expect the coming year to be a breakout year for us in terms of revenue growth. I would like to thank all our shareholders, investors, employees, customers, clients and partners for the support they have shown us throughout this difficult time and we look forward to an exciting and prosperous rest of 2021 and beyond.”
About Movement Industries Corporation
Movement Industries Corporation invests in emerging growth companies in energy, oil & gas, renewables, agricultural and industrial manufacturing sectors. Movement's executive management team brings over 50 years of experience in the global energy market. The Company’s growth strategy includes deepening products and services offered to existing customers as well as acquiring complementary business units and new customers.
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To learn more about Hi-Alloy Valve, please visit their web site at:
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Contact Information:
MVNT Shareholder/Investor Inquiries
1-713-849-1300
ir@mvmnt.in
Safe Harbor Statement – In addition to historical information, this press release contains statements that constitute forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company’s future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company’s business units or the market price of its common stock. Additional factors that would cause actual results to differ materially from those contemplated within this press release can also be found on the Company’s website. The Company disclaims any responsibility to update any forward-looking statements.