LAS VEGAS, Aug. 18, 2020 (GLOBE NEWSWIRE) -- via NetworkWire – ISW Holdings, Inc. (OTC: ISWH) (“ISW Holdings” or the “Company”), a global brand management holdings company, is pleased to report operational performance data for the three months and six months ended June 30, 2020.
- Revenues for the three months ended June 30 totaled $248,675 (for the six months ended June 30, $485,593), representing year-over-year growth of 79% (and 244%) compared to comparable periods in 2019.
- Gross profits for the three months ended June 30 totaled $94,692 (for the six months ended June 30, $134,011), representing year-over-year growth of 72% (and 152%) compared to comparable periods in 2019.
- Developed new TeleCare telehealth solution for integration into Paradigm Home Healthcare (“PHH”) division services.
- Growth in PHH during the quarter included new clients and new providers.
- Signed JV agreement with Bit5ive LLC (“Bit5ive”) to deliver 1 MW cryptocurrency mining turnkey solution to major Pennsylvania mining facility.
Management continues to believe additional investments and expansion in the Company’s PHH business have the potential to yield strong returns for shareholders, particularly given recent federal steps to deregulate the telehealth marketplace. As previously announced, the Company has developed a telehealth solution, TeleCare, specifically for integration into its PHH operations, which it believes may yield special additional value.
The Company is still working on plans for further geographic expansion in PHH. In addition, TeleCare may allow for more diverse market exploration, including more rural locations for PHH, potentially expanding the total addressable market for PHH services.
After signing a partnership agreement with Bit5ive, ISW Holdings also recently completed its new Proceso S19 Pod5ive data center design, which is a turnkey cryptocurrency mining solution capable of powering 1 MW of computing mining power. Initial units will be delivered to the Bit5ive 100-MW mining project in Pennsylvania.
“We demonstrated the continued viability of our home healthcare business during a tumultuous quarter beset by tremendous challenges across the country due to the pandemic health crisis,” commented Alonzo Pierce, president and chairman of ISW Holdings. “We also set the stage for accelerating growth in the back half of the year as we look forward to continued developments in both our telehealth and crypto mining endeavors at a time when the context is very promising in both of those markets. We have shown strong topline growth now for five consecutive quarters, almost solely driven by PHH. We feel we are well positioned to continue that growth and begin to see tangible returns from our crypto mining investments over coming months, as well.”
About ISW Holdings
ISW Holdings, Inc. (ISWH), based in Nevada, is a diversified portfolio company comprised of essential business lines that serve consumer product demands. Our expertise lies in strategic brand development, early growth facilitation, as well as brand identity through our proprietary procurement process. Together with our partners, we seek to provide a structure that meets large scalability demands, as well as anticipated marketplace needs. We are able to meet these needs through a variety of strategic, innovative processes. ISWH is creating and managing brands across a spectrum of disruptive industries. It maneuvers its proprietary companies through critical stages of market development, which include conceptualization, go-to-market strategies, engineering, product integration, and distribution efficiency. The Company has also partnered with a well-known software development and consulting company, Bengala Technologies LLC, which is developing significant enhancements in the supply chain management space; the partnership has a vitally needed patent pending.
Forward Looking Statements: This press release may contain forward-looking statements that involve risks and uncertainties. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology including "could," "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" and the negative of these terms or other comparable terminology. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested in this report. Except as required by applicable law, we do not intend to update any of the forward-looking statements so as to conform these statements to actual results. Investors should refer to the risks disclosed in the Company's reports filed from time to time with OTC Markets (www.otcmarkets.com).
For more information, visit www.iswholdings.com
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