$OMHI is on a strong earnings growth curve from its

New Post Public Reply Private Reply Replies (0) Message Board
Lee Adams
89
$OMHI is on a strong earnings growth curve from its successful OneMart retail sales operations in the Caribbean:

OM Holdings International, Inc. (OMHI) Reports Continued Profitability, In Third Quarter/Nine Months Results

Company Maintains Profitability over $1 Million Despite Effects of COVID

New Company Superstores on Target for Completion in 2021

Over the Next 12 Months, Company Expects to Add $5 Million in Revenue and Over $500,000 in Operating Profits from New Stores


MIAMI, FL / ACCESSWIRE / July 20, 2021 / OneMart grocery and retail stores, and Builders Depot, in the Caribbean today announced its results for the third quarter, which ended on May 31, 2021.

Although government pandemic regulations were put into effect during the first quarter, OMHI retained all employees and was able to fully-service all customers, either in-store or via delivery, and provide them with the high-quality goods and services they expect from OneMart.

The company greatly expanded its marketing initiatives during the third quarter and nine months ended May 31, 2021 and is already seeing increases in its business from these programs, especially in the charter boat and luxury yacht market; historically, this is the largest expansion program undertaken by the company.

During the nine months ended May 31, 2021, OMHI announced the construction of two new stores in the British Virgin Islands; in addition to these new stores, management is considering four additional sites for new superstores. With its new technology subsidiary, Rydeum Caribbean, Inc., and its new stores, the nine months ended May 31, 2021, has seen the largest expansion program in company history. Management anticipates increased revenue from these activities by the end of the fiscal 2022.

THIRD QUARTER/NINE MONTHS RESULTS

The company's nine months sales performance compared to fiscal year ended August 31, 2020, was lower by 4% despite the negative effects of Covid-19 pandemic on the economy during the nine months reporting period. The third quarter reflected less than 1% difference. This demonstrates the resilient nature of the business even during such a pandemic.
For the third quarter ended May 31, 2021, sales revenue reached $7,361,292 as compared to $7,421,909 for the same prior year period; for the nine months ended May 31, 2021, revenue reached $20,629,528 as compared to $21,493,749 for the same prior year period.
The net Income for nine months which exceeded $1 million, reflected a 5% decrease over the previous year because of the COVID pandemic effect.
For the nine months ended May 31, 2021, shares were 47,101,422, as compared to 44,400,596 the same prior year period.

BUSINESS UPDATE

Significant progress has been made at both new stores under construction. The construction of OMHI's new 34,000 square foot supermarket in Fat Hogs Bay (East End) British Virgin Islands (BVI) is expected to be completed by the end of 2021. The store will be similar to the company's first store, but larger so it can offer even more goods, including food, clothing, appliances, furniture, electronics and general household items - everything shoppers need for one stop shopping. It will provide adequate parking compared to its competitors in the area.

The company's new store concept, OM Builders Depot, will be in Port Purcell, near the main port and the capital Road Town on Tortola, BVI. OM Builders Depot will comprise 15,000 square feet and will provide building materials, hardware and tools, home appliances, cement, paint and plumbing supplies to builders and contractors. White sand, gravel, rebars, blocks and lumber will be available for purchase outside the building.

OMHI has signed a long-term lease on an acre of property for the Builders Depot store - its land costs are minimal, and the company expects significant profits and growth from this store. Builders Depot is 200 feet from the first OneMart and several miles from the new store, where construction is underway. OM Builders Depot building, and inventory will cost $3 million. This store is expected to add $5 million in sales to the OMHI Group in the first 9 months (December 2021 - August 2022) and over $500,000 dollars in operating profits.

Rydeum Caribbean, Inc. has a regional exclusive software license and IT managed services agreement with Rydeum Technologies, Inc., based in Atlanta, GA. These exclusive agreements allow Rydeum Caribbean, Inc. to efficiently launch LODE-TECH in Jamaica and in 27 additional Caribbean countries. Rydeum Technologies, Inc. is in the process of applying for three U.S. patents for a novel decentralized architecture which will have the ability to power multiple Local On-Demand Economies, allowing local businesses to easily onboard and enable customers to obtain transportation, delivery, and professional services via a single mobile app.

OMHI will vertically integrate Local-On-Demand Economy (LODE) technologies to power the purchase and delivery of retail merchandise and services for all customers throughout the Caribbean. Via Rydeum's DoGetGo app, customers will be able to shop at the company's stores from their smartphones have their purchases delivered; the app also enables both residents and visitors to get around the island by car. On July 12, 2021, OMHI announced Rydeum Caribbean Inc. has signed a five-year contract with the Jamaican Union of Travelers Association (JUTA) and its 12,000 members.

"In spite of the pandemic, which severely hurt the Caribbean economy, our results demonstrate our team's ability to maintain the provision of our premier service to all of our customers," said Mark Vanderpool President & CEO of OM Holdings International, Inc. "With our new marketing and buying initiatives, we anticipate improved results by year-end."

"We are launching DoGetGo in Jamaica, and we expect to roll the app out throughout the Caribbean," Mr. Vanterpool continued. "We are confident the mobile app will significantly increase business from our current customers and from new customers, and we expect to see additional B2B and B2C transactions. The technology agreement, DoGetGo, the JUTA contract, and the opening and operation of our new stores should make fiscal 2022 the beginning of dramatic growth for OMHI for years to come."

About OM Holdings International, Inc.

OM Holdings International, Inc. (OTC PINK:OMHI), founded in 1986 in the British Virgin Islands (BVI) by Mark Vanterpool, operates delivery services and grocery stores in the Caribbean, with a mobile application delivery platform that provides an expedient, contactless option for the transportation of people and essential goods. The company's storefront, OneMart, is the second-largest grocery store in the BVI. OHMI's delivery subsidiary, Rydeum, founded by Mark Hannah in 2019, has partnered with Jamacia's largest taxicab union to provide an Uber Eats delivery service model to Jamaican consumers. The company also provides lumber and other construction supplies to contractors throughout the Caribbean. For more information, please visit https://omholdingsinc.com/.

Forward-Looking Statements

With the exception of the historical information contained in this news release, the matters described herein, may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded by, followed by or that otherwise include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans" and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could" are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. These statements, involve unknown risks and uncertainties that may individually or materially impact the matters discussed herein for a variety of reasons that are outside the control of the company, including, but not limited to, the company's ability to raise sufficient financing to implement its business plan, the impact of the COVID-19 pandemic on the company's business, operations and the economy in general, and the Company's ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward- looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the company's filings with the SEC, which are available at the SEC's website (www.sec.gov). The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Relations

Michael J. Porter, President
Porter, LeVay & Rose, Inc.
T: (973) 865-9357
E: mike@plrinvest.com
LinkedIn@PlRinvest
Scroll down for more posts ▼

Top 10 Most Recent News Articles

A Fresh Perspective on Asakusa's Cultural Wonders

Updated Category News Views 111

Unveiling the Hidden Layers of Asakusa When most tourists wander through Tokyo's Asakusa district, they rarely scratch beneath the surface of what truly animates this historic area. It’s more than just the Sens?-ji Temple or the bustling Nakamise shopping street. We're talking about the beating heart of Asakusa’s living cultural heritage—the very artisans and...

Continue Reading
One Stop Swap Empowers Retirees in Resale Boom

Updated Category News Views 42

Tapping into the Retirement Market There's a shake-up brewing in the resale economy, and it’s got 'retirement' written all over it. Thanks to One Stop Swap's fresh Second Act initiative, there's a move to transform retirees from passive consumers into active entrepreneurs. It's not just about letting folks clear out their basements; it's about placing a bet on the...

Continue Reading
Tradier Brokerage Data Breach Sparks Legal Probe

Updated Category News Views 0

Data Breach Drama Hits Tradier Brokerage Picture a broker-dealer like Tradier Brokerage, out in Charlotte, getting its customers' details hanging out there for the world to see. A calamity, courtesy of a cyberattack on their third-party vendor, Etna Software Corp. And we're talking Social Security numbers, tax IDs—emails across Texas and Massachusetts were popping up...

Continue Reading
McKay Brothers Enhances Fastest Routes for Market Data

Updated Category News Views 149

Breaking Down McKay Brothers' Latest Maneuver Yeah, the financial market isn't just numbers and screens—it's about moving those numbers faster than a cheetah chasing prey. McKay Brothers knows this game inside and out, and they're laying down new wires, or rather, wireless, to make sure they've got the quickest routes in the room. Let me tell you, they're throwing money...

Continue Reading
Cousins Lobster Hits Arkansas for Tasty Pop-Up Tour

Updated Category News Views 78

A New England Delicacy Rolling into Arkansas Folks in Northwest Arkansas are about to get a bite of the coast, and it's a big deal for any foodie out there who craves that authentic, no-frills lobster experience. Cousins Maine Lobster is setting out on a pop-up tour—a whirlwind of five days from November 11-15—bringing their joy-inducing lobster rolls straight from...

Continue Reading
Fintech Shake-Up: OPay's $4B NYSE IPO Arrival

Updated Category News Views 33

It's a big day on Wall Street as OPay dives into the NYSE with a hefty market cap of over $4 billion, signaling a major moment for the fintech arena. Oh, how times are shifting! Today marks the debut of OPay under the ticker 'OPAY,' and let me tell you, there's a buzz in the air that could quicken any seasoned trader's pulse. OPay's Big Day: A New Era of Fintech Their...

Continue Reading
Shareholder Stakes at Risk in Major Mergers

Updated Category News Views 52

Deals in the Spotlight: What's at Stake? Ever wonder if you're getting the short end of the stick while company insiders walk away with the spoils? That's the song and dance investors face with the likes of ADT Inc., Instacart, and MidCap Financial Investment Corporation lately. If you're wearing the shareholder hat, you might want to tune into the noise around these...

Continue Reading
Human Judgment Crucial Amid AI Growth in Courts

Updated Category News Views 67

AI in the Justice System: Balancing Potential and Pitfalls You know, when it comes to upholding justice, there's a line between what machines can handle and what only a human can bring to the gavel. Chief Justice Sundaresh Menon of Singapore threw the spotlight on this at an event in Brisbane, hammering home the need for good ole human intuition in the courtroom even as...

Continue Reading
Are Shareholder Interests at Risk in These Deals?

Updated Category News Views 84

Potential Pitfalls in Pending Transactions In the tangled world of corporate deals, not every handshake benefits everyone around the table. This time, it's Surgery Partners, Range Resources, and Penske Automotive Group finding themselves under legal scrutiny. We'll dig into why Nasdaqq:SGRY, Nyse:RRC, and Nyse:PAG, might have some explaining to do. Whose Pockets Are...

Continue Reading
BingX's AI Enjoys Roaring Adoption in Trading

Updated Category News Views 36

Traders and their AI tools—sounds like a match made in market heaven, right? That's the buzz coming out of BingX, the multi-asset trading platform that's been shaking things up in the fintech realm. These days, it seems like everyone's hitching a ride on the AI train. Explosive Growth in AI Utilization Now, let's talk numbers, and boy, are these numbers juicy. Daily...

Continue Reading

Top 5 Most Recently Viewed Articles

F5 Delivers Exceptional Q1 Performance with Record Revenue Gains

Updated Category News Views 249

F5 Reports Record First Quarter Results F5, Inc. (NASDAQ: FFIV) recently announced impressive financial results for the first quarter of the fiscal year 2025, showcasing a remarkable year-on-year revenue growth of 11%. The company is witnessing a boost in its software and systems revenue, reflecting the success of its innovative strategies amid a rapidly changing IT...

Continue Reading
Ruffer Investment Company Shares Insights in Latest Review

Updated Category News Views 348

Ruffer Investment Company Provides Six-Month Overview LONDON – Ruffer Investment Company Limited, a closed-ended investment company incorporated in Guernsey, has recently published its Investment Manager's Period End Review for the six months ending in December 2024. This comprehensive review aims to inform shareholders about key performance indicators as well as an...

Continue Reading
Forging Alliances: Payentry Partners with Trucking Industry Leaders

Updated Category News Views 150

Introducing a New Partnership to Enhance Trucking Operations Payentry, known for its top-notch payroll and human capital management solutions, is thrilled to announce a game-changing partnership with the California Trucking Association (CTA). This collaboration is set to revolutionize how trucking businesses manage payroll and HR services, ensuring that their specific...

Continue Reading
WeRide Secures $120 Million Through Successful IPO Launch

Updated Category News Views 318

WeRide's Successful IPO Journey Chinese self-driving technology company WeRide has just completed a significant milestone by raising $120 million through its initial public offering (IPO) in the United States. This successful fundraising marks an important turning point for the company as it continues to push the boundaries of autonomous driving technology. Details of the...

Continue Reading
Nvidia Outshines Competitors with Unmatched Market Dominance

Updated Category News Views 178

Nvidia's Ascendant Market Value Exciting times are unfolding as Nvidia Corp (NASDAQ: NVDA) solidifies itself as a formidable force in the tech industry. With a market worth over $4.31 trillion, this GPU titan has now achieved a valuation that is more than double the accumulated market caps of Tesla Inc (NASDAQ: TSLA), Advanced Micro Devices Inc (NASDAQ: AMD), Palantir...

Continue Reading