MWG 6-K
Multi Ways Holdings Ltd (MWG)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of December 2024
Commission File Number: 001-41669
Multi Ways Holdings Limited
(Translation of registrant’s name into English)
3E Gul Circle
Singapore 629633
+65 6287 5252
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
EXHIBIT INDEX
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Date:<br>December 31, 2024 | Multi<br>Ways Holdings Limited | |
|---|---|---|
| By: | /s/<br>Lim Eng Hock | |
| Name: | Lim<br>Eng Hock | |
| Title: | Chief<br>Executive Officer and Director |
Exhibit 99.1
Multi Ways Holdings Limited and Subsidiaries.
(Incorporated in Cayman Islands)
(Company Registration No.: CT-391248)
Interim Earnings Result for the six months ended
30 June 2024
Multi Ways Holdings Limited (“Multi ways” or the “Company”) (NYSE American: MWG), a leading supplier of a wide range of heavy construction equipment for sales and rental in Singapore and the surrounding region, today announced its unaudited financial results for the six months ended June 30, 2024.
Financial Highlights for the First Half of Fiscal Year 2024
| For the Six Months Ended June 30, | |||||||
|---|---|---|---|---|---|---|---|
| ($ millions, except per share data) | 2024 | 2023 | % Change | ||||
| Revenue | 14.09 | 14.37 | -1.95 | % | |||
| Gross profit | 4.66 | 4.29 | 8.62 | % | |||
| Gross profit margin | 33.09 | % | 29.85 | % | 10.85 | % | |
| Income/(Loss) from operations | 0.54 | (4.65 | ) | n.m | |||
| Operating profit margin | 3.83 | % | -32.34 | % | n.m | ||
| Net income/(Loss) | 0.08 | (4.75 | ) | n.m | |||
| Basic & Diluted earnings per share($ cents) | 0.25 | (17.13 | ) | n.m | |||
| Net book value per share | 0.70 | 0.54 | 29.63 | % |
All values are in US Dollars.
| ● | Revenue<br>marginally decreased 1.95% to approximately $14.09 million for the six months ended June<br>30, 2024 from approximately $14.37 million for the six months ended June 30, 2023. The decreased<br>was mainly attributable to the constraint on containers supply. |
|---|---|
| ● | Gross<br>profit increased by 10.85% to approximately $4.66 million for the six months ended June 30,<br>2024 from approximately $4.29 million for the six months ended June 30, 2023. Gross profit<br>margin was 33.09% for the six months ended June 30, 2024, compared to 29.85% for the six<br>months ended June 30, 2023. The increased of gross profit was primarily attributable to proportionate<br>of revenue contributed by Rental equipment segment was relatively higher. |
| --- | --- |
| ● | Income<br>from operations were approximately $0.54 million for the six months ended June 30, 2024,<br>compared to Loss from operations of approximately $4.65 million for the six months ended<br>June 30, 2023. The operating profit margin was 3.83% for the six months ended June 30, 2024,<br>compared to operating loss margin of 32.34% for the six months ended June 30, 2023. The increase<br>of operating profit margin was primarily attributable to the non-recurring of fee in connection<br>with the initial public offering exercise incurred for the six months ended June 30, 2023. |
| --- | --- |
| ● | Net<br>Income was approximately $0.08 million for the six months ended June 30, 2024, compared to<br>net loss of approximately $4.75 million for the six months ended June 30, 2023. |
| --- | --- |
| ● | Net<br>book value per share was $0.70 as of June 30, 2024, compared to $0.54 as of June 30, 2023. |
| --- | --- |
Financial Results for the First Half of Fiscal Year 2024
Revenue
Revenue decreased marginally of approximately $0.28 million or 1.95% to approximately $14.09 million for the six months ended June 30, 2024 from approximately $14.37 million for the six months ended June 30, 2023. The decrease was largely attributable to constraint on containers supply for the six months ended June 30, 2024.
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Gross Profit
Our gross profit increased by approximately $0.37 million, or 8.62%, to approximately $4.66 million for the six months ended June 30, 2024 from approximately $4.29 for the six months ended June 30, 2023. Gross profit margin was 33.09% for the six months ended June 30, 2024, as compared to 29.85% for the six months ended June 30, 2023. The increased of gross profit was primarily attributable to proportionate of revenue contributed by Rental equipment segment was relatively higher.
Selling and Distribution Expenses
Total selling and distribution expenses was approximately $0.73 million for the six months ended June 30, 2024, compared to approximately $0.50 million for the six months ended June 30, 2023. Selling and distribution expenses increased by approximately $0.23 million or 46.00%, during the six months ended June 30, 2024 compared to the six months ended June 30, 2023. The increase was mainly attributable to the additional space storage rented, after disposal the property on second half of 2023.
General and Administrative expenses
Total general and administrative expenses was approximately $3.40 million for the six months ended June 30, 2024, compared to approximately $8.44 million for the six months ended June 30, 2023. General and administrative expenses decreased by approximately $5.04 million or 59.72% for the six months ended June 30, 2024 compared to the same period in 2023. The decrease was primarily due to non-recurring of fee in connection with the initial public offering exercise incurred for the six months ended June 30, 2023.
Income/(loss) from Operations
As a result of the factors described above, total operating income was approximately $0.54 million for the six months ended June 30, 2024, compared to operating loss of approximately $4.65 million for the six months ended June 30, 2023.
Other Income (Expenses)
Total other expenses, net, were approximately $0.46 million for the six months ended June 30, 2024, compared to other expenses of approximately $0.09 million for the six months ended June 30, 2023. The relatively increase of other expenses was primarily attributable to the absent of approximately US$0.22 million rental income from sublet property at 22 Gul Circle after disposed it second half of 2023 and non-recurring of approximately US$0.10 million insurance compensation received in respect of damages to crawler tower crane.
Net Income (loss) before income taxes
As a result of the factors described above, net income before income taxes was approximately $0.08 million for the six months ended June 30, 2024, compared to net loss before income taxes of approximately $4.73 million for the six months ended June 30, 2023.
Financial Condition as of June 30, 2024
As of June 30, 2024, cash and cash equivalents, restricted cash and short-term investments totalled $3.91 million, compared to $7.32 million as of December 31, 2023. Short-term bank borrowings were $10.44 million as of June 30, 2024, compared to $4.59 million as of December 31, 2023.
Accounts receivable was $7.64 million as of June 30, 2024, compared to $5.34 million as of December 31, 2023. Inventories were $42.27 million as of June 30, 2024, compared to $36.69 million as of December 31, 2023. Accounts payables and accrued liabilities were $3.79 million as of June 30, 2024, compared to $4.76 million as of December 31, 2023.
Total current assets and current liabilities were $60.32 million and $40.14 million, respectively, leading to a current ratio of 1.50 as of June 30, 2024. This compared to total current assets and current liabilities were $52.38 million and $31.48 million, respectively, and current ratio of 1.66 as of December 31, 2023.
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Cashflows for the First Half of Fiscal Year 2024
Cash flows from operating activities
For the financial period ended June 30, 2024, our net cash used in operating activities was approximately $8.03 million, which primarily consisted of our net income before income tax of approximately $0.08 million, adding back (i) the non-cash depreciation of property, plant and equipment and right-of-use assets of approximately $0.57 million; (ii) interest expenses approximately $0.69 million; (iii)) the increase in accounts payables and accrued liabilities of approximately $2.04 million but partially offset by (a) the gain on disposal of property, plant and equipment of approximately $0.05 million; (b) the written back of inventories of approximately $0.12 million; (c) the increase of account receivables of approximately $2.45 million; (g) the increase on inventory of approximately $5.47 million and (d) the increase of deposits & other receivables of approximately $3.31 million.
Cash flows from investing activities
For the financial period ended June 30, 2024, our net cash used in investing activities was approximately $0.18 million, primarily consisting of the purchases of property, plant and equipment of approximately $0.53 million; and the investment in financial assets available for sales of approximately $0.02 million but mitigated by the proceeds from property, plant and equipment of approximately $0.36 million and proceeds from disposal of investment in financial assets available for sales of approximately $0.01 million.
Cash flows from financing activities
For the financial period ended June 30, 2024, our net cash generated from financing activities of approximately $5.22 million, which mainly consisted of proceeds from bank borrowings of approximately $19.07 million; proceeds from lease liabilities of approximately $2.83 million but offset by the repayment of bank borrowings of approximately $13.55 million; repayment of lease liabilities of approximately $2.51 million and interest payments of approximately $0.63 million.
About Multi Ways Holdings Limited.
Multi Ways Holdings supplies a wide range of heavy construction equipment for sales and rental in Singapore and the surrounding region. With more than two decades of experience in the sales and rental of heavy construction equipment business, the Company is widely established as a reliable supplier of new and used heavy construction equipment to customers from Singapore, Australia, UAE, Maldives, Indonesia, and the Philippines. With our wide variety of heavy construction equipment in our inventory and complementary equipment refurbishment and cleaning services, Multi Ways is well-positioned to serve customers as a one-stop shop.
For more information, please visit www.multiwaysholdings.com. For further information on the Company’s SEC filings please visit www.sec.gov.
Safe Harbor Statement
This press release contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur.
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MULTI WAYS HOLDINGS LIMITED AND SUBSIDIARIES
UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS
(Currency expressed in United States Dollars (“US$”))
| June 30, 2024 | Dec 31, 2023 | ||
|---|---|---|---|
| ’000 | ’000 | ||
| ASSETS | |||
| Current assets: | |||
| Cash and cash equivalents 3,656 | 7,073 | ||
| Accounts receivable, net 7,638 | 5,341 | ||
| Inventories 42,274 | 36,692 | ||
| Amounts due from related parties 1,221 | 1,068 | ||
| Financial assets available for sales 256 | 242 | ||
| Deposits, prepayments and other receivables 5,273 | 1,965 | ||
| Total current assets 60,318 | 52,381 | ||
| Non-current assets: | |||
| Property and equipment, net 1,841 | 1,817 | ||
| Right-of-use assets 1,168 | 1,592 | ||
| Investment in equity securities 2,200 | 2,200 | ||
| Deferred tax assets 11 | 11 | ||
| Total non-current assets 5,220 | 5,620 | ||
| TOTAL ASSETS 65,538 | 58,001 | ||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | |||
| Current liabilities: | |||
| Accounts payable and accrued liabilities 3,785 | 4,758 | ||
| Customer deposits 6,486 | 3,238 | ||
| Amounts due to related parties 14,860 | 15,099 | ||
| Bank borrowings 10,440 | 4,588 | ||
| Lease liabilities 4,272 | 3,482 | ||
| Income tax payable 300 | 313 | ||
| Total current liabilities 40,143 | 31,478 | ||
| Long-term liabilities: | |||
| Bank borrowings - | 431 | ||
| Lease liabilities 3,700 | 4,265 | ||
| Total long-term liabilities 3,700 | 4,696 | ||
| TOTAL LIABILITIES 43,843 | 36,174 | ||
| Shareholders’ equity | |||
| Ordinary share, par value 0.00025, 400,000,000 shares authorized, 30,840,000 ordinary shares issued and outstanding 8 | 8 | ||
| Additional paid-in capital 18,945 | 18,945 | ||
| Retained earnings 3,101 | 3,024 | ||
| Accumulated other comprehensive loss (359 | ) | (150 | ) |
| Total shareholders’ equity 21,695 | 21,827 | ||
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 65,538 | 58,001 |
All values are in US Dollars.
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MULTI WAYS HOLDINGS LIMITED AND SUBSIDIARIES
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF OPERATION AND COMPREHENSIVE INCOME
(Currency expressed in United States Dollars (“US$”))
| Six Months ended June 30, | ||||
|---|---|---|---|---|
| 2024 | 2023 | |||
| ’000 | ’000 | |||
| Revenues, net | 14,091 | 14,371 | ||
| Cost of Sales | (9,428 | ) | (10,083 | ) |
| Gross Profit | 4,663 | 4,288 | ||
| Operating costs and expenses: | ||||
| Selling and distribution | (728 | ) | (495 | ) |
| General and administrative | (3,395 | ) | (8,440 | ) |
| Total operating costs and expenses | (4,123 | ) | (8,935 | ) |
| Profit/(Loss) from operations | 540 | (4,647 | ) | |
| Other Income/(expenses):- | ||||
| Gain from disposal of plant and equipment | 50 | 125 | ||
| Interest income | 121 | 3 | ||
| Interest expenses | (694 | ) | (522 | ) |
| Dividend income | 12 | 14 | ||
| Government grants | 15 | 17 | ||
| Foreign exchange loss, net | (4 | ) | (73 | ) |
| Other income | 38 | 350 | ||
| Total other (expenses)/income, net | (462 | ) | (86 | ) |
| Profit/(loss) before income taxes | 78 | (4,733 | ) | |
| Less: Income tax expenses | (1 | ) | (62 | ) |
| NET INCOME/(LOSS) | 77 | (4,795 | ) | |
| Less: Net income attributable to Non-controlling interest (NCI) | - | 50 | ||
| NET INCOME/(LOSS) ATTRIBUTABLE TO EQUITY HOLDER OF THE COMPANY | 77 | (4,745 | ) | |
| Other comprehensive (loss)/income: | ||||
| Foreign currency translation adjustment | (209 | ) | 206 | |
| COMPREHENSIVE LOSS | (132 | ) | (4,539 | ) |
| Net income per share | ||||
| Basic and Diluted (cents) | 0.3 | (17.1 | ) | |
| Weighted average number of ordinary shares outstanding | ||||
| Basic and Diluted | 30,840 | 27,703 |
All values are in US Dollars.
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MULTI WAYS HOLDINGS LIMITED AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
(Currency expressed in United States Dollars (“US$”), except for number of shares)
| Ordinary Shares | Additional | Accumulated Other | Non | Total | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| No. of shares | Amount | paid-in capital | comprehensive loss | Retained earnings | Controlling Interest | shareholders’ equity | |||||
| ‘000 | ’000 | ’000 | ’000 | ’000 | ’000 | ’000 | |||||
| Balance as of January 1, 2022 | 24,800 | 6 | 5,440 | (345 | ) | 257 | - | 5,358 | |||
| Foreign currency translation adjustment | - | - | - | (74 | ) | - | - | (74 | ) | ||
| Net income for the year | - | - | - | - | 978 | 50 | 1,028 | ||||
| Balance as of December 31, 2022 | 24,800 | 6 | 5,440 | (419 | ) | 1,235 | 50 | 6,312 | |||
| Foreign currency translation adjustment | - | - | - | 269 | - | - | 269 | ||||
| Net income for the year | - | - | - | - | 1,789 | (50 | ) | 1,739 | |||
| Issue of new shares net of deferred offering costs | 6,040 | 2 | 13,505 | - | - | - | 13,507 | ||||
| Balance as of December 31, 2023 | 30,840 | 8 | 18,945 | (150 | ) | 3,024 | - | 21,827 | |||
| Foreign currency translation adjustment | - | - | - | (209 | ) | - | - | (209 | ) | ||
| Net income for the year | - | - | - | - | 77 | - | 77 | ||||
| Balance as of June 30, 2024 | 30,840 | 8 | 18,945 | (359 | ) | 3,101 | - | 21,695 |
All values are in US Dollars.
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MULTI WAYS HOLDINGS LIMITED AND SUBSIDIARIES
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASHFLOWS
(Currency expressed in United States Dollars (“US$”))
| Six Months ended June 30, | ||||
|---|---|---|---|---|
| 2024 | 2023 | |||
| ’000 | ’000 | |||
| Cash flows from operating activities | ||||
| Net Income/(loss) before income taxes | 78 | (4,733 | ) | |
| Adjustment for : | ||||
| - Depreciation of property, plant and equipment | 166 | 462 | ||
| - Amortisation of Right-of-Use assets | 404 | 431 | ||
| - Inventory written back | (117 | ) | - | |
| - Gain on disposal of property, plant and equipment | (50 | ) | (84 | ) |
| - Gain on disposal of Investment available for sales | (7 | ) | (8 | ) |
| - Gain on fair value adjustment on Investment available for sales | (4 | ) | (9 | ) |
| - Interest expenses | 694 | 305 | ||
| 1,164 | (3,636 | ) | ||
| Change in working capital | ||||
| - Trade and other receivables | (2,453 | ) | 340 | |
| - Inventories | (5,465 | ) | (2,485 | ) |
| - Deposits, prepayments and other receivables | (3,307 | ) | (1,365 | ) |
| - Accounts payables and accrued liabilities | 2,041 | 553 | ||
| Cash used in operations | (8,020 | ) | (6,593 | ) |
| Income tax paid | (14 | ) | (436 | ) |
| Net cash used in operations activities | (8,034 | ) | (7,029 | ) |
| Cash flows from investing activities | ||||
| Purchase of property, plant and equipment | (527 | ) | (1,079 | ) |
| Investment in Equity securities | - | (2,200 | ) | |
| Additional of Right-of-use assets | - | (879 | ) | |
| Purchase of Investment available for sales | (18 | ) | (34 | ) |
| Proceeds from disposal of property, plant and equipment | 358 | 121 | ||
| Proceeds from Investment available for sales | 10 | 168 | ||
| Net cash used in investing activities | (177 | ) | (3,903 | ) |
| Cash flows from financing activities | ||||
| Proceeds from share issuance | - | 15,100 | ||
| Proceeds from borrowings | 19,074 | 19,279 | ||
| Proceeds from lease Liabilities | 2,825 | 3,896 | ||
| Additional of ROU liabilities | - | 844 | ||
| Repayment of borrowings | (13,545 | ) | (17,872 | ) |
| Payment of principal portion of lease liabilities | (2,507 | ) | (5,722 | ) |
| Repayment of ROU liabilities | - | (437 | ) | |
| Interest paid | (632 | ) | (279 | ) |
| Net cash generated from financing activities | 5,215 | 14,809 | ||
| Net (decrease)/increase in cash and cash equivalents | (2,996 | ) | 3,877 | |
| Effect of exchange rate changes | (421 | ) | 310 | |
| Cash and cash equivalents | ||||
| Beginning of financial year | 7,073 | 1,003 | ||
| End of financial periods | 3,656 | 5,190 |
All values are in US Dollars.
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Exhibit 99.2
Multi Ways Holdings Announces First Half 2024 Unaudited Financial Results, Provides Corporate Updates
NEW YORK, NY, December 31, 2024 (GlobeNewswire) — Multi Ways Holdings Limited (“Multi Ways” or the “Company”) (NYSE American: MWG), a leading supplier of a wide range of heavy construction equipment for sales and rental in Singapore and the surrounding region, today announces first half 2024 unaudited financial results and provides corporate updates.
Mr. James Lim, Chairman and Chief Executive Officer of Multi Ways, commented, “In the first half of 2024, we navigated a challenging landscape marked by constraint on the container supply, intensified competition, and shifting buyer preferences. Despite a marginal decrease in net revenue, it’s noteworthy that our gross profit margin improved to 33.09%, demonstrating our resilient to optimisation on our key revenue stream. We’ve also observed a growing trend of buyers opting for rentals, which account for 25.0% of our revenue. While our net income improved in the first half of 2024 was primarily attributable to the non-recurring of fee in connection with the initial public offering exercise incurred for the six months ended June 30, 2023, we have proactively adapted to these market dynamics to ensure the sustainability of our business for the rest of the year.”
“Looking ahead to 2025, several recent announcements related to major infrastructure projects commencing construction next year leave us optimistic about the future of our business, including expansion works on the Woodlands Checkpoint to five times its size will begin in 2025, and the first phase, comprising an extension at the Old Woodlands Town Centre and Bukit Timah Expressway, is targeted to be completed progressively from 2028.
“We remain dedicated to delivering value to our shareholders, customers, and employees, and are confident in our ability to navigate any challenges and seize the opportunities that lie ahead,” concluded Mr. Lim.
First Half 2024 Financial Highlights
● For the six months ended June 30, 2024, our net revenue marginally decreased 1.95% to $14.09 million, compared to $14.37 million for the six months ended June 30, 2023. The decrease in net revenue was largely due to several factors, including:
○ Disruption on the containers supply due to the middle east war.
○ Greater competition in the procurement of high-demand machinery due to limited supplies has led to greater lead time for machinery delivery.
○ Buyers being more cautious and opting for rentals – rental revenue as a percentage of total revenue increased to 25.0% in the first half of 2024 versus 14.7% in the first half of 2023.
● Gross profit was approximately $4.66 million, with a 33.09% profit margin, for the first six months of 2024, compared with gross profit of $4.29 million, with a 29.85% profit margin for the first six months of 2023.
● Net income was approximately $0.08 million for the first six months of 2024, compared with a net loss of $4.75 million for the first six months of 2023.
Cash Flows Summary
● Cash and cash equivalents were approximately $3.66 million as of June 30, 2024, compared to approximately $7.08 million as of June 30, 2023.
● Cash used in operating activities for the six months ended June 30, 2024, was approximately $8.03 million, compared to cash used in operating activities of approximately $7.03 million for the six months ended June 30, 2023.
● Cash used in investing activities for the six months ended June 30, 2024, was $0.18 million, a decrease of $3.72 million compared to cash used in investing activities of $3.90 million for the six months ended June 30, 2023, primarily consisting of non-recurring of investment in equity securities and absent of additional right-of-use assets.
● Cash provided by financing activities for the six months ended June 30, 2024, was approximately $5.22 million, compared to approximately $14.81 million for the six months ended June 30, 2023. On April 5, 2023, the Company completed its initial public offering, which generated gross proceeds of $15.1 million before deducting any underwriting discounts or expenses.
About Multi Ways Holdings Limited
Multi Ways Holdings supplies a wide range of heavy construction equipment for sales and rental in Singapore and the surrounding region. With more than two decades of experience in the sales and rental of heavy construction equipment business, the Company is widely established as a reliable supplier of new and used heavy construction equipment to customers from Singapore, Australia, UAE, Maldives, Indonesia, and the Philippines. With our wide variety of heavy construction equipment in our inventory and complementary equipment refurbishment and cleaning services, Multi Ways is well-positioned to serve customers as a one-stop shop. For more information, visit www.multiwaysholdings.com.
Safe Harbor Statement
This press release contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur.
Investor Relations Contact:
Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email: [email protected]