HIRU CORPORATION -- 4th Quarter Revenue Results

Rhea-AI Summary

Hiru Corporation (OTC: HIRU) reported $976,544 in 4th quarter revenues, slightly below its forecast of $1,000,000, but nearly quadrupling the 3rd quarter results. The company anticipates revenues of $1,500,000 for Q1 2022 and $3,000,000 for Q2 2022, attributed to new bottling lines coming online. Additionally, Hiru plans to cancel 288,012,618 shares, reducing outstanding shares by 16.47%. CEO Kathryn Gavin expressed optimism about continued growth and meeting contractual obligations.

Positive

• 4th quarter revenues of $976,544, nearly 4 times 3rd quarter revenue.
• Projected revenue growth to $1,500,000 for Q1 2022 and $3,000,000 for Q2 2022.
• Cancellation of 288,012,618 shares, decreasing outstanding shares by 16.47%, potentially increasing shareholder value.

Negative

• 4th quarter revenue fell short of the $1,000,000 forecast.

PHOENIX, Feb. 22, 2022 /PRNewswire/ -- Hiru Corporation (OTC Markets: HIRU), a Georgia corporation, would like to announce 4th quarter ended revenues of $976,544 USD and a significant increase in our asset base as shown on our current balance sheet.

The Company had previously reported anticipated revenues for the fourth quarter of $1,000,000 USD. The 4^th quarter revenue results were almost 4 times the revenue booked for 3^rd quarter ended 2021. Again, 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 were just under our predicted revenue for 4^th quarter ended 2021. We fully expect that during calendar year 2022 we will increase top line revenues each quarter as we move forward to full production of our current bottling lines and the additional line that is going online this week. The future of the Company is solid and our continued growth in all areas of our business operations is exciting to say the least."

The Company expects revenues to increase to approximately $1,500,000 USD for the end of the 1^st quarter of 2022 and will hit $3,000,000 USD for the end of the 2^nd quarter of 2022.  The continued revenue growth is a direct result of our new bottling lines being in full productions allowing us to meet our contractual requirements with our new and growing client base."

Ms. Gavin further stated… "Additionally, we would like to announce that we are processing the final documents with our legal counsel and our stock transfer agent to cancel the 288,012,618 shares of Common Stock that we announced in late November 2021.  When this is completed, we will notify the public that it has been completed and the amount is deducted from our issued and outstanding common stock by our new transfer agent, Empire Stock Transfer based in Las Vegas, Nevada. The New issued and outstanding common stock will be 1,4650,1659,677 which is a 16.47% decrease."

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 4th quarter revenues for 2021?

Hiru Corporation reported 4th quarter revenues of $976,544.

How do Hiru Corporation's 4th quarter revenues compare to the 3rd quarter?

4th quarter revenues were nearly 4 times the revenue booked for the 3rd quarter.

What is Hiru Corporation's revenue forecast for Q1 and Q2 of 2022?

Hiru is forecasting revenues of approximately $1,500,000 for Q1 2022 and $3,000,000 for Q2 2022.

What share reduction did Hiru Corporation announce?

Hiru announced the cancellation of 288,012,618 shares, resulting in a 16.47% decrease in outstanding shares.

Who is the CEO of Hiru Corporation?

Kathryn Gavin is the President and CEO of Hiru Corporation.