Sports Quest (OTC:SPQS) www.sports-quest.co is pleased to announce its entry in the water packaging industry. The bottled water packaging market was valued at USD 181.70billion in 2020 and is expected to reach USD 278.31 billion by 2026, at a CAGR of 6.86% over the forecast period 2021 - 2026. CAGR: 6.86 % Fastest Growing Market: Asia Pacific Largest Market: North America Source: https://www.mordorintelligence.com/industry-reports/bottled-water-packaging-market#:~:text=Market%20Overview,the%20forecast%20period%202021%20%2D%202026
The Company retained a Phoenix based consulting firm AZ Water Co a Hiru Corporation Co as consultants, to assist the company in the launch of its new start-up water project www.clearvoda.com SPQS has secured certain financing which allows us to launch this 2nd water division. See SPQS CEO comments below including filings March 14 2022 and explanation of the stalled financing and swap exchange; which has now finally been resolved. In addition to that the fundor (financier) agreeing to commit approximately $1,6 Million dollars in Clear Voda which is basically a start up; they have also expressed interest in financing SPQS of an energy drink co. We will shortly file a management report for our followers' review. Although a start up Clearvoda is expected to commence generating revenue within the 1st quarter of operations.
CEO Katie Gavin HIRU CEO has extensive experience in the water industry. Katie said "HIRU is operating at 100% capacity with our main customer Alkaline88 with 3 operating lines. Even when HIRU reaches 5 or 7 lines runing and operating on a 24-hour 3 shift cycle we will still have a backlog order that can fill many more lines. We as a company can either monetize on these orders or we lose them. By assisting SPQS we do not see them as a competitor but rather an outlet to outsource our overflow of business. Under the terms of the agreement, HIRU will be paid a small percentage of monies on every bottle filled as a "royalty" fee. Depending on the number of lines we ultimately end up with this could easily represent a prophet margin of several hundred thousand dollars per year perhaps even as much as $1 million."
Jeff Burns CEO of SPQS said "Katie will be named as an SPQS Interim COO and beverage advisor. This is purely a one-time Consulting arrangement and Katie will be SPQS interim COO until a new pernament COO is located. With the accredited investor, we have secured certain financing which we will use towards building the water line fulfillment orders. The Water Division will be operating as a completely new and separate division from our current core business model Magnum first which produces and distributes smart electrical devices for the institutional market.
Again as this is worth repeating, and not finalized yet however worthy of mentioning, we are also in discussions with another completely separate and completely unrelated beverage manufacturer with revenues of approximately $5 million dollars as a possible operating company SPQS would take under our corporate wings. That 2nd transaction would also be financed by the same financier which is currently bankrolling us on the ClearVoda transaction. These transactions have been in the works for the past couple of months and were moving at a frustrating snail's pace as we and our shareholders will surely agree. In the last couple of weeks, the pace has picked up and is now at a dizzying level as we wrestle to compile all the relevant information to report to our followers. Without the energy drink we project SPQS revenue (Gross) to exceed $15 million per year. with about a 30% margin including our fees to HIRU.
Mr.Burns added SPQS management is using this opportunity to update our followers and advise of our intent to file a management update report on all of these moving parts and various options we are currently exploring. We expect to be able and being a position to complete our management report filing Upon our return from Arizona within the next 2 to 4 business days.
More details will follow on a timely basis.
About SportsQuest
SPQS operates a smart wireless devices sales & distribution from its New York location. SPQS resides at the center of the convergence of connected and smart building technologies. Our intelligent sensor technologies perform advanced computing functions at the edge level and yet can also integrate to larger, data analyzing platforms. Our customers benefit from having a scalable, flexible wireless solution that spans both HVAC and lighting and our OEM partners benefit from our wireless expertise and rapid design and development services The Company also operates a finance division from the Florida location and is exploring the opportunities in sports and entertainment sector.
SPQS Management
Contact info:
Twitter @SpqsOtc
Phone: +1 561 631 9221
Email: ir@sports-quest.co
Web: https://sports-quest.co
Disclosure:
Information in this news release may contain statements about future expectations, plans, prospects or performance of SPQS that constitute forward-looking statements for purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be", "expects", "may affect", "believed", "estimate", "project" and similar words and phrases are intended to identify such forward-looking statements. SPQS caution you that any forward-looking information provided by or on behalf of SPQS are not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind SPQS’ actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond SPQS’ control. In addition to those discussed in SPQS’ press releases, public filings, and statements by SPQS’ management, including, but not limited to, SPQS' estimate of the sufficiency of its existing capital resources, SPQS’ ability to raise additional capital to fund future operations, SPQS’ ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match SPQS’ capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. SPQS does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events