Innovest Global Highlights Key Accomplishments and Revenue Streams for August 2018
Cleveland, OH -- (ReleaseWire) -- 08/24/2018 --Innovest Global Inc, (OTCMARKETS:IVST) A publicly traded operating company with diversified holdings in Commercial & Industrial, Energy, and Biotechnology & Health Services, Highlights is accomplishments for August 2018. The Company reports that their Call Center Revenue has doubled since the Acquisition, Shepherd Energy has landed a $100,000 Plus Contract, and the commercial and industrial Division Now Pacing $4,500,000 in Revenue.
The Innovest Biotech Division launched with the acquisition of a twenty percent stake in StemVax Therapeutics, and with the news that the primary technology for the StemVax brain tumor vaccine had been granted patent approval after a nine year filing process. Immediately following this news, StemVax was granted exclusive worldwide rights to this patent and three other technologies it will now use in its efforts to commercialize the vaccine.
Innovest Global previously announced that the Call Center signed a $650K+ Fortune 500 contract for providing call center services to Byram Healthcare Division was fully implemented, team trained and operational; "The Innovest team is highly professional, does an incredible job for us at the right price, and takes our business as seriously as we do," said Perry Bernocchi, Chief Executive Officer of Byram Healthcare. "To our customers, they are part of the Byram team, and they've proven we can rely on them to be a proud part of our family."
The Call Center is now generating double the baseline revenue it was generating just a few months ago, when it was acquired. The division is now pacing $4.5 million in annual revenue.
"Sally Emch, our President of Call Center Operations, has doubled the center's baseline revenue since the acquisition, and the Shepherd team just closed another six figure sale," said Dan Martin, CEO of Innovest. "The StemVax patent approval has been a recent focus of excitement, and our C&I Group is also really hitting stride. Working together well, closing big competitive sales, and excited to push through the quarter with momentum. The team is so excited at the support our shareholders have shown, and the enthusiasm is something I wish everyone could see."
The Innovest C&I Division is diligently refining organic growth strategies. "Innovest is in discussions with meaningful acquisition targets, but those transactions only work long-term if we can grow them and help them succeed - and so far I couldn't be more impressed with Division President Damon Mintz, Sally Emch, Bill Oler, Dennis Giancola and the rest of our 40 people who are doing an incredible job right now," said Mr. Martin. His comments are echoed by the Innovest mission statement, which is, "To operate our business responsibly on a daily basis to maximize shareholder value and be a source of strength to our companies, helping them reach their fullest potential."
Recent Notable Events:
First half 2018 revenue growth 55.8%
Current assets of $877,861
Cash balance of $561,062
Unchanged free-trading float of 11,796,710 common shares
No convertible debts, no warrants or options outstanding
Headcount is now 44 employees
Commercial & Industrial Division generated July monthly revenue of $351,763
Advanced an acquisition initiative on a top priority target, kept others in discussion, and finalized our second half plan
About Innovest Global, Inc.
Innovest Global, Inc. (OTCMarkets:IVST) is in the Conglomerates industry, a diversified holding company with operations in commercial and industrial products and services, energy, biotechnology, and health services. Innovest Global utilizes novel technology and marketing to efficiently acquire customers. Our primary growth strategy is to acquire existing companies in a select few industries, and attract new customers in cost effective ways. Currently, we have a Commercial & Industrial Division, and a Biotechnology & Health Services Division.
About StemVax Therapeutics
StemVax Therapeutics is a Translational Biotechnology Company that develops novel therapies for brain tumor patients. We focus our efforts on developing immunotherapeutic approaches to treating patients with Glioblastoma Multiforme (GBM), a devastating brain cancer. We also focus our research efforts on novel drug development to target Cancer Stem cells and other multi-resistant cancer cells. We seek to make a difference in patient's lives. Bringing new beginnings to the market by developing novel therapeutics. Dr. Dwain Morris-Irvin, President of Innovest's Biotech division is the StemVax founder and Chief Science Officer.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this press release are forward-looking statements. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors, which could impact the Company and the forward-looking statements contained herein are included in the Company's filings with the OTC Markets. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
Source: Innovest Global, Inc