LARGO, FL, Dec. 10, 2019 (GLOBE NEWSWIRE) -- Stealth Technologies, Inc., (OTC PINK: STTH), a company engaged in the business of identifying and capitalizing on emerging technology and associated markets, is pleased to update its shareholders on corporate developments.
Stealth Technologies, Inc. is pleased to inform shareholders that the Company is current in its reporting obligations with the Security and Exchange Commission. “It has been a process becoming current with our reporting obligations, but we are happy to announce its completion,” said CEO Alexander Clair. Mr. Clair continued, “We have already begun the preparation for our next required filing, the upcoming 2019 Annual Report to be filed on Form 10-K, and are confident in our ability to complete this filing in a timely manner.”
Stealth Technologies, Inc. continues to leverage its industry knowledge in the DRTV space to generate revenue for the company. “We are excited to continue our growth in the DRTV space while leveraging the years of knowledge and relationships the company has garnered,” said Clair. “In particular, we are excited for the new and improved revenue recognition structure that we have implemented. While potentially lowering the gross revenue recognition of a sale, we have signifincatly increased the net margin to the company,” said Clair. “Additionally, this revenue model will lower the potential liabilities to the company as we are no longer responsible for the inventory cash burden or potential legal liabiltes tied to the products that will allow for long- term growth with a solid revenue foundation.”
“One of the driving factors in management’s decision to change the Company’s revenue model has been the legal proceedings surrounding the Company over the past two years,” said Clair, CEO. During July 2019, Stealth was able to settle one of the pending legal proceedings by reaching a settlement with LifeAlert. The settlement has been paid in full as per the terms of the Settlement Agreement.
“We continue to improve everyday and examine what we do in order to identify the most efficient and cost effective methods of operation. We will continue to build structures and processes that support our business growth and provide the highest level of service to our clients,” stated CEO Alexander Clair.
About Stealth Technologies, Inc.
Stealth Technologies, Inc., incorporated in 2010 and based in Largo, FL, is a publicly traded company engaged in the sales and distribution of consumer electronics and other safety products through Direct Response and live shopping channels. Stealth represents leading consumer safety brands such as Help Now and its associated product the 911 Help Now Emergency Pendent. Stealth continues to leverage its industry knowledge to expand its sales growth through additional product and direct shopping channels. For more information, please visit the Company’s website at www.stealthtechinc.com.
Forward Looking Statements:
Statements included in this update that are not historical in nature, are intended to be, and are hereby identified as, "forward-looking statements." Forward-looking statements may be identified by words including "anticipate," "believe," "intends," "estimates," "expect," and similar expressions. The Company cautions readers that forward-looking statements including, without limitation, those relating to the Company's future business prospects are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements, due to factors such as those relating to economic, governmental, technological, and other risks and factors identified from time to time in the Company's reports filed with the SEC.
Contact:
Alexander Clair, Chief Executive Officer
investors@stealthtechinc.com
1-800-579-0528