NEW YORK, NY , Nov. 15, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- ILUS International Inc (OTC: ILUS) is a Mergers and Acquisitions company focused on acquiring and developing public safety and industrial companies across the globe. The company reports that the third quarter was its strongest to date despite it already being overshadowed by an even stronger performance in the fourth quarter which is underway.
Third quarter revenue, net profit and assets increased by 550%, 203% and 187% respectively over the same period in 2021, with highlights for the three months ended September 30th, 2022, as follows:
· Revenue: $20,419,421
· Net Profit: $1,187,494
· Assets: $77,299,258
With impressive progress made in the consolidation and continued growth of the operating companies within the group during the third quarter, ILUS also successfully completed its audit as planned during the quarter and has since filed its Form 10 with the SEC to become a fully reporting entity. The company now expects to be fully reporting before year end, following which it plans to change its registered name and apply to OTC Markets to up list from the OTC Pink Market to the OTCQB.
ILUS Managing Director, John-Paul Backwell, commented: “Our third quarter results illustrate the enormous progress we have made as a business in the last year; however, we are already in the midst of an even stronger fourth quarter. Over the last few months, we have consolidated and strengthened key areas of our business to prepare ourselves for the exciting strategic moves ahead. We now look forward to announcing several exciting deals in line with these strategic moves over the coming weeks.”
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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 webcasts also 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