HELO CORP - HLOC STOCK NEWS

Helo Corp. (OTC PINK:HLOC) announced new strategic initiatives aimed at reducing costs and refocusing its business model amid challenging market conditions. CEO Sean McVeigh noted that revenue has been negatively impacted by issues in the network marketing distribution channel. The company plans to discontinue its global network marketing operations, significantly reducing headcount, while expanding its portfolio with Helo-branded devices. Additionally, Helo aims to launch an affiliate-based customer acquisition model and contribute to a blockchain-based health data platform.

Helo Corp. (OTC PINK:HLOC) reported its Q2 2022 results with revenue of $3.5 million, a significant 83% decline year-over-year. The gross margin fell to 5%, down 5,000 basis points, due to rising material costs. Selling expenses increased to 45% of revenue, and general and administrative costs rose to 88.6%. The company faced a loss of $4.6 million for the quarter, with earnings per share at a loss of 5 cents, compared to a profit of 1 cent last year. Helo ended the quarter with $8.1 million in net assets and no debt.

Helo Corp (OTC PINK:HLOC), a developer in wearable technology, announced on June 10, 2022, the appointment of M&K CPAS, PLLC as its new independent auditor. This strategic change aims to facilitate Helo's transition from an alternative reporting company to a fully reporting company with the SEC. CEO Sean McVeigh highlighted this as a step towards their goal of listing on Nasdaq and enhancing shareholder value. The previous auditor, Wei, Wei & Co., LLP, had no disagreements on GAAP matters.

Helo Corp. (OTC PINK:HLOC) reported a 39% increase in revenue for Q1 2022, totaling $10.7 million. Gross margin decreased to 67.7%, down by 430 basis points, attributed to higher material costs. Selling expenses rose to 35% of revenue, while general and administrative costs grew to 27.7%. Overall profitability fell to 4.5%, with earnings per share down by four cents. The company ended the quarter with $25.9 million in total assets and no debt. Helo remains optimistic about navigating COVID-related challenges and expanding into new markets.

Helo Corp. (OTC PINK:HLOC) has announced the appointment of Clayton Jones as chief legal officer, effective March 31, 2022. Jones brings extensive legal expertise gained from his previous roles at Grōv Technologies and Nu Skin. CEO Seán McVeigh expressed confidence that Jones will enhance the executive team amid the company's growth in wearable technology and digital health. Helo Corp. continues to innovate by integrating blockchain and AI in its wellness solutions, empowering consumers with data control.

Helo Corp. (OTC:HLOC) announced its 2021 results, showcasing a record annual revenue of $64.7 million, representing a remarkable 276% growth.

Despite a 180 basis point decrease in gross margin to 68.7%, profitability improved by $10.2 million, and earnings per share stood at $0.12. The company ended the year with total assets of $27.8 million and no debt, indicating a strong balance sheet. Helo attributes its success to technological advancements and a shift in business model, while navigating challenges related to COVID-19.

Helo Corp. (OTC PINK:HLOC) has appointed Robert 'Bo' Short as CEO of its subsidiary, Vyvo Inc., to spearhead the U.S. launch and global expansion of its wellness technology products. With over 32 years in the direct selling industry, Short is recognized as a top leader and income earner, bringing valuable experience from two direct selling companies and leadership roles in various organizations. Helo Corp. focuses on digital health and creating a wellness-centered ecosystem through its advanced technology, including the Vyvo LifeWatches and data-driven platforms.

Helo Corp. (OTC PINK:HLOC) announces the appointment of Ryan C. Wood as the new chief financial officer, effective March 2, 2022. Wood has a strong background in finance, having previously served as vice president of global financial planning at Nu Skin Enterprises and holds degrees in finance and accountancy from Brigham Young University. CEO Seán McVeigh expressed confidence in Wood's ability to enhance the leadership team and drive growth. Helo Corp. focuses on digital health technology and wellness, utilizing its Life-Watch devices for data collection and user wellness.

Helo Corp. (HLOC) has announced funding of £150,000 in convertible debt to support the development of santéPatch, a technology aimed at monitoring micronutrient levels in users. This investment is part of Helo's strategy to enhance its precision nutrition offerings through its subsidiary, Vyvo Technology Corp. With the precision nutrition market expected to grow from over $8 billion in 2020 to over $24 billion by 2028, Helo aims to leverage this technology to provide personalized nutrition data, thereby improving customer health outcomes.