Movement Industries Corporation Appoints New CFO and Increases Revenues by Approximately 84% over Previous Quarter
Company Adds Key Management and Continues Revenue Growth
Houston, TX, March 09, 2022 (GLOBE NEWSWIRE) -- Movement Industries Corporation (OTC PINK: MVNT) (the “Company”) proudly announces it has appointed Jack E. Leal as Chief Financial Officer. Mr. Leal brings over 27 years of senior level experience in accounting, tax, and compliance oversight for both private and publicly held companies with roles at Petrochem Field Services, Inc., GollobMorganPeddy PC, Ham, Langston & Brezina, LLP, ExpressJet Airlines, Inc., Continental Airlines, Inc. and Deloitte and Touche, LLP. Mr. Linh Nguyen, CEO of the Company, stated, “We are excited to have Mr. Leal provide his experience and leadership to our company as we continue the growth and expansion in 2022 and beyond.” Mr. Leal, new Chief Financial Officer, affirmed, “I personally believe in our Company’s products, services and our CEO, Mr. Nguyen. My goal is to ensure that the Company and stakeholders are receiving timely and accurate financial information, which ensures the Company can move toward even greater growth opportunities.
Mr. Leal’s key role as Chief Financial Officer is to directly work with Mr. Nguyen and the management team to oversee all aspects of the Company’s financial status. This role includes preparation of periodic financial reports for both internal and external financial reporting purposes, including the consolidated income statements, balance sheets and statements of cash flows, preparation of periodic external statutory reports for various governmental agencies including the Securities and Exchange Commission. His duties will also include coordination, supervision and review of internal controls of various financial departments, including treasury management, accounts receivable, inventory, fixed assets and accounts payable.
Mr. Leal also brings senior level experience for the preparation of forecasting models of financial statements in connection with potential acquisition candidates and new lines of businesses, preparation of periodic cash forecasting models for internal reporting purposes and monitoring of available cash for the purpose of maintaining proper working capital and investment balances. Mr. Leal will also deliver additional sources of revenue and increase the Company’s cliental base from his vast experience and network.
Mr. Nguyen adds, “As per our stated 2022 focus items from our previous press release on January 12, 2022, the Company is also proud to announce that its revenue grew approximately 84% over its previous quarter. Based on the Company’s current projects and deal flow, it is also expecting continued growth with its fabrication division.”
In closing, Mr. Nguyen had this to say, “I want to thank our stakeholders for their continued support as the Company grow its brand, work experience and expand its projects worldwide.”
About Movement Industries Corporation
Movement Industries Corporation invests in emerging growth companies in energy, oil & gas, renewables, agricultural and industrial manufacturing sectors. Movement's executive management team brings over 50 years of experience in the global energy market. The Company’s growth strategy includes deepening products and services offered to existing customers as well as acquiring complementary business units and new customers.
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To learn more about Hi-Alloy Valve, please visit our website at: www.hialloyvalve.com.
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Safe Harbor Statement – In addition to historical information, this press release contains statements that constitute forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company’s future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company’s business units or the market price of its common stock. Additional factors that would cause actual results to differ materially from those contemplated within this press release can also be found on the Company’s website. The Company disclaims any responsibility to update any forward-looking statements.
