CLEVELAND, July 23, 2018 (GLOBE NEWSWIRE) -- Innovest Global Inc. (OTC Pink Current:IVST) (the “Company” or “Innovest”), posted Q2 financial reports this morning, and the following Shareholder update from Dan Martin, Chairman and CEO:
Congratulations and thank you to our team, investors, and shareholders: Our stock price is up 725% on the year, on closing and integrating five acquisitions and managing them to three consecutive record sales months. These facts validate our business model and as a result, we are focused on significant growth opportunities. Other notable highlights:
- Sales are up 55.8%. ($1,104,367 in Q2 compared to $708,804 in Q1). June Sales were highest ever, at 16.8% higher than May, the previous record.
- End Q2 current assets of $877,861 include cash on hand of $561,062.
- Our capital structure includes an unchanged free-trading float of 11,796,710 common shares. There are no convertible debts, no warrants or options outstanding.
- Our headcount is 44 employees, up from 26 at the start of the quarter.
- Our stock price is up 725% as of this past Friday, since our January 2, 2018 close. Since Thursday of last week IVST saw more than double average trading volume, following the StemVax announcement.
- We received notice that Winslow Asset Management registered as a shareholder, marking our first institutional shareholder position.
- We closed several key contracts with organizations ranging from local governments, to the United States Navy, University Hospitals, Cleveland Indians, University of Louisiana, Iowa Department of Transportation, Houston Metro, Tarkette and a $650K exclusive contact from Byram Healthcare, a division of a Fortune 500 Company.
- We’ve got a world-class team including two independent members of our Board of Directors, and our key corporate leadership is highlighted on our new corporate website.
There isn’t a person on our team that hasn’t contributed exceptionally this first half of 2018. We could not be happier with our progress. We are attracting larger acquisition prospects and are engaging in discussions with opportunities that I categorize as “transformational”. We’ve now broadly proven our business model, and our ability to execute, and while we must continue to focus on organic results we are now also in pursuit of scaling our success to levels that will establish Innovest as a significant Conglomerates Industry player. This includes larger acquisitions, new attractive industry verticals, uplisted security status, more institutional exposure, and continued improvement. I’m extremely enthusiastic about our prospects for Q3, and expect to provide many additional updates soon. Congratulations again, and thank you to all our supporters!
Sincerely,
Daniel G. Martin
About Innovest Global, Inc.
Innovest Global, Inc. (OTC Markets:IVST) is in the Conglomerates industry, a diversified holding company with operations in commercial and industrial products and services, energy, biotechnology, and health services. Innovest Global utilizes novel technology and marketing to efficiently acquire customers. 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, and a Biotechnology & Health Services Division.
For more information, please visit: http://www.innovestglobal.com, and follow us on Twitter @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