HIRU CORPORATION - 3rd Quarter Revenue Results

Rhea-AI Summary

Hiru Corporation (OTC: HIRU) reported over $250,000 in revenues for Q3 2021, consistent with previous forecasts. The company anticipates exceeding $1,000,000 in Q4 revenues, fueled by a fully operational new facility. For the fiscal year 2022, projected revenues range between $5,000,000 and $10,000,000. This growth may necessitate multiple new facilities to accommodate increasing customer demand. CEO Kathryn Gavin highlighted that increasing production capabilities correlates with rising orders, indicating positive growth momentum.

Positive

• Achieved Q3 revenues of over $250,000, meeting forecasts.
• Forecasted Q4 revenues expected to exceed $1,000,000.
• Plans for multiple new facilities driven by increasing customer orders.
• Projected revenues for FY 2022 between $5,000,000 and $10,000,000.

Negative

• None.

PHOENIX, Nov. 12, 2021 /PRNewswire/ -- Hiru Corporation (OTC Markets: HIRU), a Georgia corporation, would like to announce 3^rd quarter ended revenues of over $250,000 USD as predicted in its August 2021 projections and a significant increase in our asset base as shown on our current balance sheet.

The Company had previously announced it would produce top line revenue in excess of $250,000 USD for 3^rd quarter ended September 30, 2021; and $1,000,000 USD for 4^th quarter ended December 31, 2021. The Company met its mark and fully expects this trend will continue off into the foreseeable future.

Ms. Kathryn Gavin (President and CEO of the Company), states…" We met our revenue target despite not having full use of the new facility until the middle of the 3^rd quarter. At the current time, based upon revenue producing activity during the month of October 2021, we feel that we will beat our predicted 4^th quarter predictions and have top line revenue in excess of $1,000,000 USD. During the current quarter, the Company's new facility is in now full operation allowing us to produce a larger amounts of client product than ever before over our previous capabilities with our cost per unit dropping precipitously."

Again, the Company anticipates that each proceeding quarter in FYE 2022 will show top line revenue growth well into the foreseeable future. Again, the Company expects top line revenue for FYE 2022 to be between $5,000,000 USD and $10,000,000 USD. The Company anticipates having to start the build out its fourth facility during the current quarter to meet anticipated increased customer orders in the first quarter of 2022. This facility which will have the same automated bottling machinery as the 3^rd buildout which is producing the revenues you see from the current income statement.

Ms. Gavin further stated…" We fully expect to be required to build several new facilities throughout FYE 2022 due to ever increasing purchase orders from our larger clients.  This will show a significant increase in top line revenue and net income each quarter, but also building a very strong balance sheet as these facilities are funded and built. These are the things you see from an operation in its growth stage like our Company. It seems the more we build and increase our capabilities, the more clients and purchase orders we are receiving. In short, our success is breeding more success. We are excited about the future and expect to become classified as a large regional water manufacturer in the very near term."

Disclaimer Regarding Forward Looking Statements

Certain statements that we make may constitute "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information concerning future strategic objectives, business prospects, anticipated savings, financial results (including expenses, earnings, liquidity, cash flow and capital expenditures), industry or market conditions, demand for and pricing of our products, acquisitions and divestitures, anticipated results of litigation and regulatory developments or general economic conditions.  In addition, words such as "believes," "expects," "anticipates," "intends," "plans," "estimates," "projects," "forecasts," and future or conditional verbs such as "will," "may," "could," "should," and "would," as well as any other statement that necessarily depends on future events, are intended to identify forward-looking statements. Forward-looking statements are not guarantees, and they involve risks, uncertainties and assumptions.  Although we make such statements based on assumptions that we believe to be reasonable, there can be no assurance that actual results will not differ materially from those expressed in the forward-looking statements.  We caution investors not to rely unduly on any forward-looking statements.

ABOUT US

Hiru Corp. is a Georgia corporation, is a public quoted Pink Sheet issuer under the ticker symbol "HIRU" (the "Company"). The Company reports as an alternative reporting issuer with OTC Markets Group, Inc. and is current in its mandatory required filings (e.g., Pink Sheet Current). Currently, the Company has one wholly owned, operational subsidiary, AZ Custom Bottled Water, Inc., a Nevada corporation ("AZ Water"), which owns and operates a commercial water bottling and labeling facility based in Phoenix, Arizona. AZ Water operates a B2C website at https://azcustombottledwater.com/.

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SOURCE Hiru Corporation

FAQ

What were Hiru Corporation's Q3 2021 revenues?

Hiru Corporation reported over $250,000 in revenues for Q3 2021.

What is Hiru's revenue forecast for Q4 2021?

Hiru Corporation anticipates exceeding $1,000,000 in revenues for Q4 2021.

What are the revenue projections for Hiru Corporation in 2022?

Hiru Corporation projects revenues between $5,000,000 and $10,000,000 for fiscal year 2022.

How is Hiru Corporation planning to meet increasing customer demand?

Hiru plans to build multiple new facilities to accommodate rising customer orders.

What operational changes contributed to Hiru's revenue growth?

The new facility became fully operational, enhancing production capabilities and reducing costs.