NEW YORK, NY, Aug. 15, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- ILUS International Inc (OTC: ILUS) is a Mergers and Acquisitions company focused on acquiring and developing public safety technology-based companies across the globe. The company, which increased its revenue over the same quarter in 2021 by 588%, and by 553% over the first quarter of 2022, is confidently on track to exceed its annual run-rate revenue forecast.
Highlights for the three months ended June 30th, 2022, are as follows:
Net Profit: $1,132,322.21
EBITDA: $ 1,659,141.95
Working Capital: $9,640,172.49
Progress during the second quarter included ILUS acquiring the majority stake of the fully reporting OTCQB company, Wikisoft Corp. which then underwent a name and ticker change to Quality Industrial Corp (OTCQB: QIND). QIND has signed a binding Letter of Intent to acquire 51% of a United Arab Emirates based process equipment manufacturer which is generating more than $100 million in annual revenue.
Following its participation at the FDIC Exhibition in Indianapolis in April, where the ILUS Group product range gained positive attention from potential US and international customers, the company continued to focus on business development and improvement of the businesses within its group. ILUS has been especially pleased with the progress made by Georgia Fire Rescue, which delivered its strongest quarterly performance to date after moving into its new larger facility. Steady growth has been delivered across the board within the group and with the third quarter already well underway, ILUS is confident of an even stronger performance in its third and fourth quarters.
During the third quarter, ILUS expects its audit to be completed, following which it plans to file its Form 10 with the SEC to become a fully reporting entity, change its registered name, and apply to OTC Markets to up list from the OTC Pink Market to the OTCQB. The company is also progressing with closing negotiations for important acquisitions which will add specialized technology, additional manufacturing capability and further significant revenue to the group. ILUS also plans to make important announcements regarding its roadmap and important milestones during the period.
ILUS Managing Director, John-Paul Backwell, commented: “We have delivered very impressive growth during the second quarter, and we are just starting to get into our stride as a global company which aims to become a dominant conglomerate. With even bigger deals on the table and so many exciting developments taking place behind the scenes, we are thrilled about all that the back half of the year holds in store for our company and our Shareholders.”
For further information on the companies, please see their communication channels:
Certain information set forth in this press release contains "forward-looking information", including "future-oriented financial information" and "financial outlook", under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the Company's business, projects, and joint ventures; (iv) execution of the Company's vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company's projects; (vi) completion of the Company's projects that are currently underway, in development or otherwise under consideration; (vi) renewal of the Company's current customer, supplier and other material agreements; and (vii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management's beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements. Although forward-looking statements contained in this presentation are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. The Securities and Exchange Commission ("SEC") has provided guidance to issuers regarding the use of social media to disclose material non-public information. In this regard, investors and others should note that we announce material financial information via official Press Releases, in addition to SEC filings, press releases, Questions & Answers sessions, public conference calls and webcastsalso may take time from time to time. We use these channels as well as social media to communicate with the public about our company, our services, and other issues. It is possible that the information we post on social media could be deemed to be material information. Therefore, considering the SEC's guidance, we encourage investors, the media, and others interested in our company to review the information we post on the following social &media channels:
website: https://ilus-group.com Twitter: OTC_ILUS
Note: ILUS Coin does not sit within ILUS International Inc (Ilustrato Pictures International Inc), so the public are recommended to follow the correct Media Channels relating to the public company OTC: ILUS.