First Quarter 2019 Revenue $11.7 Million is 1,565% sales growth over Q1 2018, Second Quarter Results Expected to Maintain First Quarter Sales Range
Innovest Global Inc. (OTC Markets: IVST), a diversified industrials and biotechnology company, provides the following shareholder update.
Innovest was recently noted in ‘Wall Street PR’ as the fastest growing public company in Ohio in 2018. The revenue growth can be attributed to operations that now consist of building materials distribution, manufacturing of glass exterior walls for skyscrapers, energy efficiency solutions for businesses, and other foundational products and services for business clients.
The Industrial division move, into a former Walmart Supercenter in Bedford, OH, is underway and expected to be complete by August 1, 2019. The large, single location provides a variety of manufacturing and distribution efficiencies.
Regarding revenue growth opportunities, there are currently $85 million in manufacturing bids outstanding (if successful, these projects take 1-2 years to complete). The Company is in active discussions with meaningful synergistic acquisition targets, and continues to have open dialogue with multiple owners of auto dealerships; which would result in the creation of an Auto Division for Innovest. This potential division was first disclosed as a possibility in late 2017.
The 2018 audit is in testing phase, and other compliance and governance initiatives are in process.
Our biotech division has made significant strategic progress, with specific updates expected soon.
Please follow us across social media, a frequent medium for important updates and news @innovestglobal. Look for much more information to come soon.
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 investments in biotechnology. Our primary growth strategy is to acquire existing companies in a select few industries and attract new customers in cost effective ways.
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.