Business
Video River Networks Announces Company Record Annual Revenue of $1,628,136 for Full Year 2020
Video River Networks Announces Company Record Annual Revenue of $1,628,136 for Full Year 2020.
About this update from Video River Networks, Inc.
[{"type":"text","content":"\n Real Estate Sales and Increase in Proprietary Trading Revenue Drive Record Growth TORRANCE, CA , April 14, 2021 (GLOBE NEWSWIRE) -- Video River Networks , Inc. (OTC PINK:NIHK) (the \"Company\"), an Electric Vehicles and Battery Technology holding company, is pleased to announce completion of its annual audit by PCAOB-registered Auditors, and record revenue growth of $1,628,136 for the year ended December 31, 2020. This is a first for the Company in the last 11 years. The result was mainly due to the Company pivot to Electric Vehicles, Artificial Intelligence, Machine Learning and Robotics assets in its cash management portfolio. The result was contained in the Company’s 2020 Annual Report under Form 10-K, which was filed with the SEC this morning, April 14, 2020. \"I am excited about our timely pivot into EV, Ai, Machine-Learning and Robotics in the third quarter of 2020. That prescient strategic shift of business focus has started to yield fruits across our business lines. Our cash management portfolio briskly capitalized on the technological wave to generate needed alphas to carry us to the finish line, stated Frank I Igwealor, Video River Networks’ Chief Executive Officer. \"Our revenue for the year ended December 31, 2020 was $1,628,136, a first for the Company that had recorded zero revenue in each of the last 11 years. Our successful entry into the EV sector was pivotal to our overall portfolio and assets management, which has also placed us into great position for further growth in 2021 and beyond.\" Furthermore, a successful completion of the annual audit will open many doors for the Company as it try to execute its business plan and roll out its EV SPAC in the coming months. About Video River Networks, Inc. Video River Networks, Inc. is an Electric Vehicles and Battery Technology holding company that operates and manages a portfolio of Electric Vehicles, Artificial Intelligence, Machine Learning and Robotics (\"EV-AI-ML-R\") assets, businesses and operations in North America. The Company's current and target portfolio businesses and assets include operations that design, develop, manufacture and sell high-performance fully electric vehicles and design, manufacture, install and sell Power Controls, Battery Technology, Wireless Technology, and Residential utility meters and remote, mission-cr...