Business
Video River Networks Reports Record Profit, EPS of $0.002 and P/E of 25.5 in Q1, 2021
Video River Networks Reports Record Profit, EPS of $0.002 and P/E of 25.5 in Q1, 2021.
About this update from Video River Networks, Inc.
[{"type":"text","content":"\n Revenue up 34% and EPS up 4,391% to all-time record EPS of $0.002 and first profitable quarter in the Company’s most recent history TORRANCE, CA , May 13, 2021 (GLOBE NEWSWIRE) -- Video River Networks, Inc. (OTC PINK:NIHK) (the \"Company\"), an Electric Vehicles and Battery Technology holding company, is pleased to announce the first profitable quarter in its most recent history. The Company posted revenue of $665,667, up 34 percent year over year, and quarterly earnings per diluted share of $0.002, up 4,391 percent. Major highlight as follows: EPS = $0.002 Cash = $89,021Net Income = $443,555Current Assets = $478,397Working Capital = $447,767Current Liabilities = $28,630Operating Cash Flow = $155,777Price-Earning (P/E) ratio = 25.5Return of Equity = 0.99Current Ratio = 8.27 “It was really an awesome quarter. This quarter for Video River Networks wouldn’t have been possible without the tireless/innovative work and risk-management expertise of every NIHK team member,” said Frank I Igwealor, Video River Networks’ CEO. “We’re gratified by the enthusiastic this result as we work to launch our electric vehicles operation, which has been made possible through our recently executed Joint Venture Agreement with Lingstar Co. We are also focused on how we maintain consistent profitability quarter after quarter. Our March 31, 2021 quarter business performance was fueled by astute cash management and risk arbitrage, which in overall would achieve a target of reaching consistent net cash flow from operation over time.” 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-critical devices mostly engineered through Artificial Intelligence, Machine Learning and Robotic technologies. NIHK's current technology-focused business...