Leone Asset Management Releases Q1 Update

Rhea-AI Summary

Leone Asset Management (OTC PINK:LEON) provided a Q1 update on April 11, 2023, emphasizing a shift from a holding pattern post-Covid to an aggressive growth strategy. The company is engaging a PCAOB auditing firm to update its financials and aims for full reporting status on OTCQB. Leone continues its M&A strategy to acquire profitable entities, enhancing shareholder value. The company highlighted positive market conditions for its flagship product, Cholesterade, due to supply chain disruptions affecting psyllium husk production, with potential for increased market penetration. Leone's production process is fully natural, offering an environmentally-friendly alternative amidst the crisis. Given that North America accounts for a significant portion of retail psyllium sales, Leone is well-positioned to capitalize on this opportunity.

Positive

• Engaging PCAOB auditing firm for financial updates and full OTCQB reporting.
• Continuing M&A strategy to increase shareholder value through profitable acquisitions.
• Favorable market conditions for Cholesterade due to psyllium supply disruptions.
• Natural production of Cholesterade without harmful chemicals, appealing to health-conscious consumers.

Negative

• None.

CLEARWATER, FL / ACCESSWIRE / April 11, 2023 / Today, Leone Asset Management (OTC PINK:LEON) announced a Q1 update.

"Since the Covid Pandemic, Leone Asset and its subsidiaries have mainly been in a holding pattern. 2023 is our year to kick our operations and corporate development back into High Gear. I am pleased to announce that we have engaged our PCAOB auditing firm to bring our books and records up to date and have our financials fully audited. Once completed, we will be filing our application with OTC markets to be a fully reporting company on the OTCQB.

Over the past few years, Leone Asset has entertained multiple corporate acquisitions to assist in expediting its growth and overall shareholder value. As we embark into a new year, our M&A strategy remains the same. Management at Leone will continue to seek out profitable and fast-growing entities that operate in industries that will complement our current holdings while increasing revenues and cash flow.

We see many positive market conditions that will boost our sales in Cholesterade®. Several of the product categories participants use psyllium husk as their active ingredient to help lower cholesterol and assist with digestive issues. 80% of world psyllium production exports comes from India and as a result of massive flooding in the region and the continuing effects of COVID 19 including logistics issues, most of the world's supply of psyllium has stopped.

It will take years to re-establish production, which may not even be feasible, creating a massive unmet need. Apart from the physical side effects of psyllium, conventionally produced psyllium husk is treated with methyl bromide, which is both poisonous and causes environmental pollution. No such externalities are generated in Cholesterade® production, which is all natural, derived from Acacia and processed without any chemical additives. As a note, North America currently accounts for 56% of the retail psyllium husk sales.

This market development creates an amazing opportunity for Leone to push forward with greater market penetration for our flagship product."

About Leone Asset Management

Leone Asset Management, Inc., is a multi-national, multi-industry conglomerate with subsidiary companies that operate in Health and Wellness, Media & Communications, Infrastructure development, agriculture management and mining exploration. For additional information, please visit www.leoneasset.com.

Forward-Looking Statements Disclosure:

This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company's expected future business and financial performance, and often contain words such as "anticipates," "beliefs," "estimates," "expects," "intends," " plans," "seeks," "will," and other terms with similar meaning. These forward-looking statements by their nature address matter that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements based are reasonable, it can provide no assurances that these assumptions will prove to be correct. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risk, and uncertainties, and by reference to the underlying assumptions.

Contact:

James Price
JPriceceo@gmail.com

SOURCE: Leone Asset Management, Inc.

View source version on accesswire.com:
https://www.accesswire.com/748627/Leone-Asset-Management-Releases-Q1-Update

FAQ

What is the latest update from Leone Asset Management (LEON)?

Leone Asset Management announced a Q1 update focusing on operational growth and engagement with a PCAOB auditing firm for financial updates.

What are Leone Asset Management's plans for 2023?

The company plans to kickstart operations and corporate development, emphasizing a strategy for mergers and acquisitions.

How is the supply chain affecting Leone Asset Management's Cholesterade product?

Supply disruptions in psyllium production due to flooding and logistics issues present a significant market opportunity for Cholesterade.

What is Leone Asset Management's strategy regarding mergers and acquisitions?

Leone aims to acquire profitable and fast-growing entities to complement their current holdings and enhance revenue.