Innovest Global Update: January Revenue Highest Monthly Revenue in Company’s History
CLEVELAND, Feb. 20, 2019 (GLOBE NEWSWIRE) -- Innovest Global Inc. (OTC Markets: IVST ), a diversified Industrial Company, today announced it generated record gross sales in January 2019 of $3.2 million.
Other notable events from January:
-- A Fortune 500 client expanded its sales contract by 30%, adding $600,000 per year. -- One of Innovest’s new holdings (Authority National Supply) signed four new members expected to add $5.2 million in gross sales in 2019; prior to Innovest’s ownership there had been only one new member added in the previous two years. -- Innovest Electric Solutions signed a $1.1 million contract for a NYSE listed client. -- Employee base has grown from seven in January 2018, to 85 in January 2019. -- Total Current Assets $6.7 million. -- Cash balance $825,000. -- Signed a Letter of Intent to acquire a retail auto dealer which generates $30 million sales and commensurate profits. -- In 2018 Innovest generated $7.8 million gross sales with $2.1 million gross profit, and distributed its annual letter to shareholders in January.
“Innovest continues to grow sales rapidly and is focused on the growth of its current Industrial companies, while exploring additional acquisitions that management feels could add significant shareholder value. Diversification into Biotechnology is also expected to result in progress this year both from StemVax and other efforts,” said Dan Martin, Innovest’s founder, Chairman, and Chief Executive Officer.
About Innovest Global, Inc.
Innovest Global, Inc. (OTC Markets: IVST ) has operations in Industrials (commercial and industrial products and services, energy, construction, and building materials ) and diversified holdings in biotechnology. The primary growth strategy of Innovest Global Inc is to acquire existing companies in a select few industries and attract new customers in cost effective ways. Currently, Innovest Global Inc has a Commercial & Industrial Division, a Biotechnology & Health Services Division, and a Construction & Building Materials Division.For more information, please visit: http://www.innovestglobal.com, and follow us on Twitter and Facebook @innovestglobal.
Forward-Looking StatementsThis 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.
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