Business
American Rebel Announces New Value Line Safes and Highlights Q1 Results
Dramatic Increases in Revenue and Narrowing of Net Loss Due to Champion Acquisition Nashville, TN, May 25, 2023 (GLOBE NEWSWIRE) -- American Rebel Holdings,
About this update from American Rebel Holdings, Inc.
[{"type":"text","content":"Dramatic Increases in Revenue and Narrowing of Net Loss Due to Champion Acquisition Nashville, TN, May 25, 2023 (GLOBE NEWSWIRE) -- American Rebel Holdings, Inc. (NASDAQ: AREB) – America’s Patriotic Brand (the “Company”) proudly announces its intention to introduce a new value line of safes to respond to strong consumer demand for safes in the $799, $999, $1,199 and $1,499 price points, in order of smaller to larger safes respectively. American Rebel, Champion, Superior and Safe Guard dealers are requesting these value line safes from the Company to meet the demands of approximately 70% of the current safe market. Also, a large big-box retailer is interested in American Rebel 2A Lockers and the Company will make a product presentation to the retailer in the coming weeks. American Rebel CEO Andy Ross says manufacturing a quality safe in the value line price point is important to provide the safety and security of a quality safe to families possibly buying their first safe or those seeking a budget friendly alternative to the Company’s other safes. “It’s vital to have a quality product available for young families and individuals just starting out,” says Ross. “They need to have the ability to lock up their firearms, even if they only have one or two guns in the home. American Rebel is a strong supporter of the Second Amendment, but we also promote gun safety and responsible gun ownership. It’s just doing the right thing so they can be safe inside and outside their home.” Prototypes of the value line safe are in process and the Company is working towards completion of the line in the third quarter. The Company closed on the acquisition of Champion Safe on July 29, 2022, which contributed to the Company growing its Q1 2023 revenue to $4,402,099 compared to $154,080 for the three months ended March 31, 2022. The Company also reported its Q1 2023 net loss decreased to $227,055 from a net loss of $2,628,237 for Q1 2022. To view the complete Form 10-Q for the period ended March 31, 2023, go to: https://www.sec.gov/ix?doc=/Archives/edgar/data/1648087/000149315223017266/form10-q.htm. CEO Andy Ross continues, “We’re very proud of the progress the Company made during the first quarter and are very excited for what the future holds for American Rebel. With our success integrating the Champion acquisition, we’re actively pursuing several add...