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OMHI Holdings International, Inc. serves consumers and retail customers by providing a multi-tenant on-demand technology platform for the delivery of goods and services throughout the Caribbean from a single mobile app. The firm vertically integrates contactless delivery of essentials and provides multi-modal transportation. OMHI was formed through the fusion of Rydeum, an on-demand technology platform founded by Mark Hannah in 2019, and OneMart, a 35-year-old grocery store founded by Mark Vanterpool in 1986. OMHI's technology subsidiary, Rydeum, partnered with Jamaica's largest taxicab union (12,000 drivers) in 2021. This segment offers a platform akin to Uber, Grubhub, and Instacart, catering uniquely to the local on-demand economies in the Caribbean. Onemart, OMHI's storefront and essential goods subsidiary, is the second largest grocery provider in the British Virgin Islands, offering groceries, home goods, electronics, and furniture.
OMHI reported record sales of $4 million in December 2021 and a total of $12 million for the first four months, indicating strong performance heading into 2022. The company, which operates OneMart stores in the British Virgin Islands, anticipates an additional $7 million to $10 million in sales growth and a projected $2.5 million net profit. The CEO credits the sales increase to a store remodel, recovering tourism, and effective marketing. Three new stores are set to open in the next six months, underlining the company's growth strategy.
OM Holdings International Inc. (OTCQX: OMHI) reported a strong financial performance for Q1 2022, achieving a net income of $155,381, reversing a loss of $51,462 from the previous year. Revenue increased by 33.3% to $8,002,587, driven by a resurgence in food service and tourism. The company is optimistic about growth prospects with plans to open three new stores and launch its DoGetGo mobile app in Jamaica in February. Overall, fiscal 2022 is expected to be pivotal for OMHI in the Caribbean market.
OM Holdings International Inc. (OMHI) reported a 10% increase in net income to $1.7M for the fiscal year ending August 31, 2021, compared to the previous year. Total revenue grew by 2.5% to $28.9M, driven by higher sales in food service and yacht provisioning. The company plans to open three new stores by June 30, 2022, and launch the DoGetGo Mobile App in Jamaica soon. An uplisting to the OTCQX tier is expected shortly, indicating potential future growth for investors.
OM Holdings International (OTC PINK: OMHI) recently featured in a USA Today article as part of its marketing strategy to educate investors. The article, published on September 28, 2021, highlights the company's DoGetGo app, which aims to enhance the flow of goods and services in the Caribbean. CEO Mark Vanterpool emphasized the significant reach of USA Today's platform, which attracts almost 173 million unique readers monthly. This initiative aims to increase awareness and shareholder value.
OMHI is set to launch its on-demand app, DoGetGo, across up to 28 Caribbean countries within five years, targeting the $4.6 billion food delivery and taxi market. The company has filed a provisional patent for an AI-based risk score system aimed at ensuring accountability and standardizing customer experiences. This system will utilize Ethereum blockchain technology to maintain score integrity, facilitating transparency in service provider scores that users can view before engaging services. CEO Mark Vanterpool emphasized the importance of this technology in achieving predictable customer experiences across diverse Caribbean cultures.
OM Holdings International (OTC PINK: OMHI) has secured exclusive rights to the Rydeum DoGetGo mobile app for 20 years, enabling revenue generation across 28 Caribbean countries. This app targets the $4.6B food delivery and taxi market, aiming to revolutionize contactless transportation and delivery services.
Set to launch in Jamaica soon, DoGetGo is affiliated with the Jamaican Union of Travelers Association, representing 70% of the $120M Jamaican taxi market. CEO Mark Vanterpool highlights its adaptability for diverse Caribbean business needs.
OM Holdings International Inc. (OTC PINK:OMHI) has submitted its application for up-listing to the OTCQX Tier, expected to be approved soon. The OTCQX segment requires companies to meet specific financial and operational standards, enhancing investor confidence and liquidity. CEO Mark Vanterpool highlighted that this move aims to broaden trading access and is a step towards future Nasdaq listing. OMHI has recently constructed five new stores and secured a B2B contract with Jamaica's largest taxicab company, JUTA, while reporting $28 million in revenue for its One Mart store in 2020.
OM Holdings International Inc. (OMHI) has announced the issuance of 200 contactless debit cards to the Jamaican Union of Travelers Association (JUTA), enabling immediate service launch in Montego Bay. The launch event, expected within 30 days, will progressively add 11,800 JUTA members. The DoGetGo app, developed in partnership with JUTA, is positioned as a contactless service to enhance the tourism experience amid COVID-19 restrictions. The company anticipates this trial will pave the way for future Caribbean expansion, leveraging its BVI operations for broader regional rollout.
OM Holdings International, Inc. (OTC PINK: OMHI) has appointed Bob Barbieri as Chief Operating Officer. With extensive experience, including leading Lawson Software through a $2 billion IPO, Barbieri is expected to manage the company's rapid growth. Under construction are five new stores, with openings slated for October. Barbieri aims to ensure timely completions and drive revenue. Since its reverse merger in May 2021, OMHI has focused on expanding its operations across the Caribbean, including its recent acquisition of Rydeum Caribbean.
OM Holdings International (OTC PINK:OMHI) will present at the Emerging Growth Conference on September 1, 2021. This live event allows investors to interact with management in real-time. Since its reverse merger in May 2021, OMHI has announced five new stores set to open in October 2021. The company's technology subsidiary, Rydeum Caribbean, launched a mobile app connecting local businesses and consumers. The presentation is scheduled for 11:30 AM Eastern time. Archived webcasts will be available for those unable to attend live.
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