MHHC Enterprises Inc. Provides Corporate Update and Plans for 2021
MHHC Enterprises (OTC PINK:MHHC) provided a corporate update, outlining plans to list on the OTCQB and create at least five wholly owned subsidiaries by year-end 2021. The company aims to strengthen its core businesses: MHHC Warranty Services, MHHC Reinsurance, and ONBLi. With over 1,000 retail locations, MHHC Warranty generates significant revenue through extended service contracts. The company also emphasizes sustainability in its operations while seeking to enhance shareholder value through growth and innovation.
- Plans to list on OTCQB enhances visibility and market credibility.
- Intention to establish at least 5 wholly owned subsidiaries may drive future growth.
- Expansion of warranty services could increase monthly recurring revenue.
- Development of ONBLi aims to improve e-commerce integration with warranty services.
- Dependence on continued growth in the warranty services market poses risks.
- No specific financial metrics or guidance provided for future performance.
OLYMPIA, WA / ACCESSWIRE / May 19, 2021 / MHHC Enterprises Inc. ("MHHC" or the "Company") (OTC PINK:MHHC), a diversified holding company is pleased to provide a corporate update and further discussion on its subsidiaries: MHHC Warranty and Services, Inc., MHHC Reinsurance, Inc., and ONBLi Inc. Along with the intention to provide shareholders and potential investors with audited financials, MHHC plans to list on the OTCQB and establish at least 5 wholly owned subsidiaries while continuing to significantly expand its existing businesses by YE 2021. "Our vision for MHHC Enterprises and its wholly owned subsidiaries is to lead in both excellence and innovation in all products and services we deliver. We have learned a lot over the past year and like many, we look forward to bouncing back from the pandemic stronger than before, exceeding expectations of customers, shareholders, and potential investors throughout 2021 and beyond. The growth of our core businesses along with the build-out of additional wholly owned subsidiaries will continue to drive shareholder value for years to come," stated Frank Hawley, CEO of MHHC Enterprises. In parallel to the Company's growth plans, MHHC intends to do its part to promote sustainability and a low carbon footprint in any product built, sold, or delivered to the public.
MHHC Warranty Services
Most of the Company's revenue to date has been generated through the sale of extended services contracts ("ESC") sold online and through more than 1,000 retail locations in the United States via its MHHC Warranty Services subsidiary. Its ESC's warranty services provide original equipment manufacturer ("OEM") customers with extended warranties for consumer electronics and other related products that are supported with help desk and other warranty administrative support. As of late, the Company has been developing and rolling out new warranty services lines which management hopes will lead to an increase in monthly recurring revenue. "By expanding our portfolio of products serviced under our Warranty Services business, we hope to bundle multiple products per household, thereby decreasing consumers' overall warranty expenditures while increasing our footprint within the household," stated MHHC's CEO, Frank Hawley. The Company intends to continually layer in additional product lines throughout the year.
MHHC Reinsurance
MHHC Reinsurance is designed to allow the holding and reinvestment of surplus warranty reserves as an additional pool of funds available in the unlikely event that the warranty reserve funds become strained. Working alongside MHHC Warranty Services, MHHC Reinsurance continues to grow its surplus as Warranty Services continue to grow.
ONBLi
ONBLi, Inc. is the Company's wholly owned e-commerce subsidiary which, in its infancy, among other features will offer a streamlined easy to use customer focused process that will directly link e-commerce with the Company's ESC warranty services while leveraging proprietary technology that solves several issues its e-commerce competitors at large have yet to address. Stay tuned for more. "At ONBLi, we prioritize the customer and their wants, needs, and budget. We want them to stop searching and start finding," expressed Anderson Salgado, CEO of ONBLi.
About MHHC Enterprises, Inc.
MHHC Enterprises Inc. (MHHC) is a diversified holding company, focused on its core businesses: MHHC Warranty and Services Inc., MHHC Reinsurance, Inc. and ONBLi, Inc. Currently MHHC has over 1,000 retail locations selling Extended Service Contracts (ESC) across the United States and online. MHHC is a leading national provider of help desk and warranty insurance administration services for a wide variety of industries and consumers. Additionally, the Company's organization creates and specializes service programs for a variety of manufacturers and commercial construction such as heating, ventilating and air conditioning (HVAC) industries. MHHC is a leader in call center "on-shoring" by creating jobs in the United States for professional phone representatives - both sales and customer service employees. The Company's call center processes claims and service calls offering warranty support solutions for a variety of businesses.
MHHC prides itself in offering troubleshooting solutions over the phone and developing processes to eliminate overhead costs of shipping and timely repairs on approved claims. The highly skilled staff at MHHC consistently provides mission-critical solutions and results that assist industries and manufacturers in driving down warranty support and repair costs for their organization.
Follow MHHC Enterprises on Twitter: https://twitter.com/MhhcEnterprises
Safe Harbor and Forward-Looking Statements
This news release contains statements that involve expectations, plans or intentions (such as those relating to future expansion or financial results) and other factors discussed from time to time in the Company's OTC Markets filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward- looking statements by words such as "may," "should," "expect," "anticipate," "believe," "estimate," "intend," "plan" and other similar expressions. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors not within the control of the Company. The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
Contact:
Investor Relations
Email: Investors@mhhcco.com
SOURCE: MHHC Enterprises Inc.
View source version on accesswire.com:
https://www.accesswire.com/648193/MHHC-Enterprises-Inc-Provides-Corporate-Update-and-Plans-for-2021
FAQ
What are MHHC Enterprises' plans for 2021?
How does MHHC generate revenue?
What is ONBLi in relation to MHHC?
What is the significance of MHHC's corporate update?
