Business
Innovest Global October Update Features Strong Revenue, Several Major Milestones
Innovest Global October Update Features Strong Revenue, Several Major Milestones.
About this update from Innovest Global Inc
[{"type":"text","content":"\nCLEVELAND, Oct. 24, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE  -- Innovest Global Inc. (USOTC : IVST) (the \"Company\" or \"Innovest\"), Commercial & Industrial Division continues to grow with September being the second highest monthly sales achievement this year, at $369K, marking $1,064,000 in third quarter revenue for the division, with $857K in current assets and zero long-term debt. There are several major items to report:\n The Board of 'Authority National Supply' approved their pending company sale to IVST by Super Majority Vote, representing approximately $30 million in new annual revenue to Innovest; As described in a previous Company Press Release on October 22, 2018, ceremonial closing scheduled Thursday at 5PM.On Friday October 19th we released our 2017 and 2016 independent auditors report. The report verifies financial results for 2017 and 2016 by an independent auditor to PCAOB standards.  We are now preparing to file a 'Form 10' to register our security with the Securities and Exchange Commission. Shepherd Energy, an Innovest Company, signed two new sales contracts for the DCR100 technology solution (a new technology we announced and launched earlier this year). These contracts will represent $349,000 in revenue for the company. A new contract for Contact Source Solutions was signed indicating approximately $600,000 in annual billing. Contact Source Solutions has added an additional 10 new employees as a result of contract. On 9/21/18 the client asked for 5 seats & then added another 5, we have now filled all 10 and are in full billable production. Chagrin Safety Supply, an Innovest Company, won a bid and then delivered a shipping container full of HAZMAT boots to the United States Navy 10 days ahead of schedule, weighing in at 18,000 pounds.Yesterday marked the one-year anniversary of the first acquisition for Innovest, Chagrin Safety Supply.  At that time Innovest went from zero revenue, to approximately $500,000 in annual revenue and since had five subsequent acquisitions, which have resulted in a proven business model and significant revenue growth.Our ribbon cutting ceremony and open house takes place tomorrow, October 25th. We will be joined by members of the press, customers, friends, the community and potential acquisition candidates.Our open house officially cel...