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NEW YORK, NY, July 13, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- ILUS International Inc (OTC: ILUS) is a Mergers and Acquisitions company focused on acquiring and growing public safety and technology-based companies across the globe. Now in its second year of operations since taking over from previous management, the company has completed several acquisitions and also created subsidiaries which are in the process of completing several further acquisitions. In line with the substantial progress that ILUS has made in 2022, the company has therefore significantly increased its revenue forecast for the year.
On the 11th of February 2022, ILUS announced a run rate revenue forecast of $40 to $55 million for 2022. Due to current progress and the agreed acquisitions which it expects to close in the 3rd quarter, ILUS has updated its revenue forecast to a run rate of $140 million for 2022.
Furthermore, ILUS confirmed that its second quarter results, which will be filed on the 15th of August 2022 as required, reflect the strong progress that the company has been making. The appointment of former REV Group President, Dan Peters, as CEO of ILUS’ public safety subsidiary, Emergency Response Technologies, during the second quarter, is already adding further momentum to the performance of ILUS, specifically in North America.
Recently, the ILUS owned Industrial subsidiary, Wikisoft Corp., which is undergoing an appropriate name change to Quality Industrial Corp. along with a change in operational focus, announced that it has signed a binding Letter of Intent to acquire Quality International, a United Arab Emirates headquartered process equipment manufacturer for the Oil and Gas, Utilities, and Industrial sectors. Quality International is delivering annual revenue in excess of $100 million and currently has $75 million worth of orders in production along with a further $230 million in confirmed purchase orders. Wikisoft Corp. is currently negotiating further acquisitions which will be strategically aligned with Quality International.
Regarding its audit which is currently underway, ILUS confirms that it is on track for the audit to be completed during the summer of 2022, as originally communicated.After completing the audit, ILUS will 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.
ILUS Managing Director, John-Paul Backwell, recently provided an update on the company’s progress and strategy in a video presentation. This video is available on the ILUS YouTube channel at the following link: https://youtu.be/hAsz0e_Ox3s
Nick Link, CEO of ILUS, commented: “In terms of business progress, it’s been an incredible year for us so far and we clearly expect our growth trajectory to increase in the back end of the year. Although the global economy is facing immense challenges and the markets are experiencing ongoing pressure, as a business we are surging towards our largest milestones yet. We look forward to making several important announcements in Q3, delivering on both our previously stated objectives and further new ones that we have been working on behind the scenes. Our ability to close deals such as that of Quality International serves as a guideline for what more can be expected from ILUS and its subsidiaries over the coming months.”
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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 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
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