Sacramento, CA, May 03, 2018 (GLOBE NEWSWIRE) — A new update has been published on Innovest Global, Inc. (OTC PINK: IVST). Innovest Global, Inc. is a diversified holding company that focuses on acquiring niche, high-growth businesses that are capable of generating significant annual revenue. The company’s planned subsidiaries operate across telehealth, biotech, commercial energy, business-to-business distribution, national call center and auto sales.
The report provides an overview of Innovest Global, Inc., its subsidiaries, financials, industry analysis and more. The content also covers the global outlook for commercial energy and LED lighting markets.
Renub Research: Global LED Lighting Market Forecast To Be Worth $100 Billion By 2024
Innovest Global’s primary operating divisions are across commercial/industrial energy and biotech & health sciences. Both divisions have deep roots in high-growth markets with long term potential.
Energy efficiency continues to be a growing trend within the global business community, as companies search for ways to cut costs and boost revenues. It is surprising to hear that there is still a massive amount of companies out there that continue to rely on decades-old, outdated, and inefficient energy solutions. Ultimately, running these inefficient systems leads to higher energy costs, as well as lower productivity.
According to Renub Research, the global LED lighting market is estimated to be worth $100 billion by the end of 2024. The market research firm sees the vast global growth primarily stemming from exponential global urbanization and greater awareness to energy efficiency systems.
According to MarketsAndMarkets, the global LED lighting market is estimated to be worth $92.40 billion by 2022, which represents a compound annual growth rate (CAGR) of 13.66%. The market research firm sees the growth being driven by increasing demand for energy efficiency products, LED costs are falling, and overall greater adoption of the technology as a general lighting source.
In PwC’s “2017 Power and Utilities Trend” report, analysts concluded that a vast majority of the growth will come from a “blueprint for a service-based model.” This would include: emerging technologies, monitoring equipment, sensors, energy management technology, and more.
Innovest Signs Two Big Energy Sales Contracts, Announces LOI To Acquire Forensic Energy Auditing Firm With $500K Annual Revenue
On April 23, 2018, Innovest Global announced that it has signed its first Demand Cost Reduction (DCR) system client for a $118,000 sales contract. The DCR System is a primary metering system that can help clients eliminate up to 50-70% of wasted demand charge and reduce electricity costs by 30-40%.
On April 30, 2018, the company’s Energy Group announced that it has signed a five-figure lighting sales contract with the world-renowned equestrian facility, Stachowski Farms. Stachowski has a strong history of excellence with over 300 National Championships, over 250 Reserve National Championships, and over 1,500 top tens.
On May 2, 2018, Innovest Global announced that it has signed a Letter of Intent to acquire a forensic energy auditing firm that is generating annual revenues of $500,000. The business model of the acquisition target is to conduct forensic energy audits for businesses and organizations and then providing recommendations on how to improve cost savings. This serve is particularly valuable for high-use energy clients and large organizations.
Outside of the operational milestones that management continues to churn out, Innovest Global CFO, Mike Yukich, recently provided an update on the company’s audit and uplisting efforts. Mr. Yukich notes that the PCAOB audit is expected to be completed by the end of May, whereby the company will immediately begin uplisting to the OTCQB Venture Market.
“Dan Martin (Innovest Chairman and CEO) has been fanatical about advancing Innovest shareholder interests,” said Mr. Yukich. “He is concerned with one thing: maximizing shareholder value. We make decisions with long-term focus and have avoided short-term thinking. He and the board, and I, believe OTCQB is an ideal immediate goal to achieve our long term goals. Once we apply, we will be on their (OTC Markets) timeline so it’s difficult to predict if and when we may be successful. But, OTC has been an incredibly helpful partner over the past several months, and we are looking forward to the process.”
Recently, Innovest Global released their first quarter 2018 earnings report. The company reported total revenues greater than $708,000, gross profit of just under $330,000, and cash on hand greater than $600,000. Furthermore, the company reported total current assets of $932,096 and total current liabilities of $352,165, giving Innovest Global a strong quick ratio of 2.60, which is four times stronger than the conglomerate industry average of 0.60.
Management announced it has also cancelled 50 million common shares, which provides the company with the updated share structure, as of March 31st:
Authorized Shares: 500 Million
Outstanding Shares: 96.52 Million
Shares in Float: 11.80 Million
Innovest Global, Inc. was also featured on an episode of Spotlight Growth Live, a video web series that focuses on emerging growth companies.
For more information on Innovest Global, Inc., please visit http://innovestglobal.com and https://spotlightgrowth.com//2018/05/02/innovest-global-inc-otc-pink-ivst-signed-loi-to-acquire-forensic-energy-auditing-firm-with-500k-annual-revenue/
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