- Oops!Something went wrong.Please try again later.
LAS VEGAS, April 15, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- ISW Holdings, Inc. (OTC: ISWH) (“ISW Holdings” or the “Company”), a global brand management holdings company with commercial operations in telehealth and cryptocurrency mining, is pleased to announce the filing of the Company’s 2020 financial performance data, which features continued top-line growth, overall positive net profitability on sales, and strong growth in cash.
“While this data is important, it references a period that predates the commercial launch of our cryptocurrency mining and mining equipment segment, but we are still proud to have continued our strong trend of growth in telehealth and home healthcare, and that trend is evident in our 2020 performance data,” commented Alonzo Pierce, president and chairman of ISW Holdings.
Financial Highlights for the Year Ended Dec. 31, 2020
Paradigm Home Health (PHH) gross revenues of $1,061,927, compared to $627,498 in 2019, representing year-over-year growth of 69%.*
PHH recognized a two-year net profit average of 9.95%. Net profits for the two-year period ending Dec. 31, 2020, totaled $147,361.*
Net cash increased 528% year-over-year to $86,000.
Total assets increased 276% year-over-year.
*Paradigm Home Health (PHH) is a joint venture. The Company earns 50% of the net profit or loss associated with PHH.
Operational Highlights for the Year Ended Dec. 31, 2020
Invested in cryptocurrency mining through Bit5ive LLC partnership and design, assembly and installation of first POD5IVE mining pod.
Invested in TeleCare subsidiary, including telehealth technology, creating opportunity to materially improve home healthcare revenue share.
Established anti-dilution initiative, sharply reducing authorized and outstanding shares and convertible note liabilities.
Established stock option compensation plan in anticipation of the establishment of an advisory board and the addition of new top team members.
Set in motion process to uplist onto OTCQB exchange tier.
Despite challenges related to the pandemic health crisis, 2020 turned out to be a year of dramatic transformation for ISW Holdings. The year was marked by several major transitions, all of which form the contextual foundation supporting much bigger expectations in 2021.
Foremost among these key steps was the critical mid-year formation of the Company’s partnership with Bit5ive, LLC. That step established the Company’s cryptocurrency mining and mining equipment segment at a time when Bitcoin was trading at approximately $10,000. That was followed by aggressive investment in the design, assembly, shipping and installation of the Company’s first POD5IVE high-PUE mining pod.
The Company’s investment in establishing its TeleCare subsidiary has also turned out to be a key step, laying a foundation for its recent and beneficial restructuring of its relationship with its telehealth and home healthcare joint venture partner, Paradigm Home Health. As recently announced, that new agreement now stands to increase the Company’s share of revenues from related operations by up to 40% in 2021 versus prior years.
The Company also continues to make good on its anti-dilution initiative, which was established in 2020. To date, the Company has reduced outstanding shares by nearly 25%, reduced authorized shares by 88% down to 60 million, and eliminated over $3.4 million (or 94%) of outstanding convertible debt.
As noted in its recent corporate update, the Company anticipates at least threefold growth in top-line performance in 2021 versus 2020.
About ISW Holdings
ISW Holdings, Inc. (ISWH), based in Nevada, is a diversified portfolio company comprised of essential business lines that serve consumer product demands. Our expertise lies in strategic brand development, early growth facilitation, as well as brand identity through our proprietary procurement process. Together with our partners, we seek to provide a structure that meets large scalability demands, as well as anticipated marketplace needs. We are able to meet these needs through a variety of strategic innovative processes. ISWH is creating and managing brands across a spectrum of disruptive industries. It maneuvers its proprietary companies through critical stages of market development, which include conceptualization, go-to-market strategies, engineering, product integration and distribution efficiency. The Company has also partnered with a well-known software development and consulting company, Bengala Technologies LLC, which is developing significant enhancements in the supply chain management space, and the partnership has a vitally needed patent now pending.
For more information, visit www.iswholdings.com.
This press release may contain forward-looking statements that involve risks and uncertainties. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology including "could," "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" and the negative of these terms or other comparable terminology. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested in this report. Except as required by applicable law, we do not intend to update any of the forward-looking statements so as to conform these statements to actual results. Investors should refer to the risks disclosed in the Company's reports filed from time to time with OTC Markets (www.otcmarkets.com).
EDM Media, LLC