LAS VEGAS, NV, Aug. 07, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- International Spirits & Wellness Holdings, Inc. (OTCMKTS: ISBG) (“ISBG” or the “Company”), a top-tier brand incubator in the Global Wine & Spirits and CBD-Infused Products markets, is excited to announce that, as a consequence of the Company’s pivot to embrace the Health and Wellness industry as a core strategic factor in its long-term value proposition for its shareholders, ISBG will begin to recognize revenues from its growing Home Healthcare segment in its quarterly financial filings.
The Company saw sales from that segment of $165,000 last quarter, and expects to exceed that number in its current quarter. Recent data suggests the segment is currently growing at better than 120% on a year-over-year basis, and the Company anticipates a further acceleration in this pace of growth as new caregivers are brought on board. This change in accounting practices – to include those sales as part of the Company’s primary revenues – is expected to have a material impact on ISBG’s financial data as of its next quarterly filing.
“In the course of this overall strategic pivot, we have been reshaping our identity to better reflect our current business model for the benefit of present and future investors,” noted ISBG CEO, Terry Williams. “It’s all part of adjusting how we represent ourselves to the capital markets. But very little has changed in the past few months as far as our internal operational identity. That change came into place last year, when we started to significantly ramp up our focus on the Wellness space as a principal contributor to shareholder value. That has been one of the most productive decisions in Company history.”
While the Company has frequently commented on the demand growth it has seen in its CBD products segment, ISBG has not discussed its growing home healthcare services segment as a core strategic and operational factor. However, this segment has shown steady and robust top line growth on a sequential month-over-month basis in both total patients and total sales so far in 2019, and the Company expects this trend to continue and potentially accelerate in the months and quarters ahead.
Mr. Williams continued, “Our data and analysis suggests that the home healthcare segment alone will offer up a major contribution to overall top line growth in Q3 and for our full-year fiscal 2019 financial performance. We continue to be very excited about the potential for a further acceleration in the quarters ahead as we gain new patients and margins widen as volume drowns out fixed operating costs.”
About ISBG: International Spirits & Wellness Holdings, Inc. (ISBG) is an authorized importer, licensor, and marketer of premium beverage brands, with sales of innovative products and brands worldwide. Based in Nevada, the Company's expertise lies in the strategic development and aggressive early growth of its brands and the establishment of these brands as viable and profitable as an incubator. ISBG intends to nurture emerging brands through critical stages of market development, including conceptualization, go-to-market strategy, supply chain and logistics engineering, integrated marketing, and distribution. In addition, ISBG has now established itself as a health and wellness company with a focus on reshaping the CBD products market through state-of-the-art nanotechnology processes, developing a wide range of nano-infused CBD gummies and beverages formulations. These products will be sold through the Company’s website, as well as through established wholesale and retail distribution channels. The company has also partnered with Bengala Technologies to develop and commercialize enterprise and B2B software technology products targeting the logistics and supply-chain marketplace.
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).
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