Business
ATIF Holdings Signs Definitive Agreement with Massimo Motor Sports, LLC to Provide Advisory Services in Support of Future Public Listing
IRVINE, Calif., Aug. 18, 2022 /PRNewswire/ -- ATIF Holdings Limited (Nasdaq: ATIF) (the "Company," "ATIF" or "We"), a holding company providing business and
About this update from Atif Holdings Limited
[{"type":"text","content":"IRVINE, Calif., Aug. 18, 2022 /PRNewswire/ -- ATIF Holdings Limited (Nasdaq: ATIF) (the \"Company,\" \"ATIF\" or \"We\"), a holding company providing business and financial consulting services in Asia and North America, is pleased to announce that it has signed a definitive agreement for US$800,000 to provide IPO advisory services to Massimo Motor Sports, LLC (\"Massimo\"), which manufactures all-terrain vehicles (ATVs) and utility task vehicles (UTVs) in Garland, Texas.\nMassimo Motor Sports is based in a 325,000 square foot factory in the heart of the Dallas/Ft Worth area, with vast product lines that include a wide selection of farm and ranch tested utility UTV's, recreational ATV's, and Americana style mini-bikes. Massimo's wholly owned subsidiary, Massimo Electric features a diverse product line of E-Scooters, E-Bikes, E-Koolers, solar panels, and EV charging stations. Massimo's affiliate company, Massimo Marine, features a wide selection of luxury boats and recreational boating supplies.\nMassimo's most recent financial report (unaudited) shows that it achieved revenues of US$81.2 million in fiscal year 2021, an increase of 63.2% from fiscal year 2020 revenues of US$49.8 million; Net income in fiscal year 2021 was US$5.4 million, compared to fiscal year 2020 net income of US$8.1 million.\nJun Liu, President, Chairman of the Board, and CEO of ATIF, commented, \"We are pleased to announce this engagement with Massimo, a proven innovator in the UTV and ATV markets. David and his team have established an impressive reputation in the industry for quality products with great customer service at reasonable prices. I look forward to seeing Massimo's growth and expansion plans come to fruition as a public company in this fast-growing sector.\"\n\"Following an extensive search process which yielded several highly qualified firms, we are excited to begin working with a world class organization like ATIF to build our listing team and help us attain our goal of being a publicly-traded company,\" commented David Shan, Founder and Chief Executive Officer of Massimo Motor Sports, LLC. \"Going public is a massive undertaking that requires an experienced team of consultants with proven track records of success, particularly when navigating challenging capital markets. We are excited to take this important step with ATIF, which will facilita...