Renavotio, Inc. - RIII STOCK NEWS

Renavotio, Inc. (OTC: RIII) updates shareholders on recent developments as of May 13, 2022. The Company has amended its $2.1 million note related to glove purchases, planning to pay the remaining balance by July 2022 after making a $1.23 million payment. New work trucks and installation equipment have been acquired. The Company is participating in new bids in utility management, having outbid 3 of 4 competitors for a recent contract. Additionally, a $750,000 line of credit has been established to support future growth, and significant shipping of protective equipment is underway. SEC filings are expected to be current by the end of June.

Renavotio, Inc. (OTC: RIII) announced key shareholder updates on March 30, 2022. The company is finalizing its 2020 re-audit and 2021 audit, aiming for re-submission to the OTC Bulletin Board. Highlights include a $1.9 million loan from the SBA to pay off debts, reconditioning of a new fleet, and plans for upcoming bids in water and sewer management. Renavotio seeks to enter forbearance agreements for convertible notes to enhance liquidity while pushing for compliance and growth.

Renavotio, Inc. (OTCQB: RIII) has completed the sale of $1.7 million worth of nitrile medical examination gloves to an overseas client, boosting its cash position. The company settled a balance of $1,502,204 to finalize the transaction and aims to enhance its inventory through a $2.1 million purchase of additional gloves, aiding in further overseas orders. This sale allows Renavotio to pay down convertible debt and fund upcoming infrastructure investments. The company is also working towards filing its amended 2020 10-K and 9/30/21 Form 10Q by the end of March.

Renavotio, Inc. (OTCQB: RIII) announced its plans to reapply for trading on the OTC Bulletin Board as it works towards finalizing its 2020 audit and amended 2021 filings. The company is actively securing equipment for fiber installation crews, with a focus on broadband infrastructure across Eastern Missouri, Southern Kansas, and Northern Oklahoma. CEO Billy Robinson highlighted the significant steps taken to enhance shareholder value, including expanding opportunities for Utility Management & Construction, LLC.

Renavotio, Inc. (OTCQB: RIII) reports a surge in demand for PPE products due to the rapid spread of COVID variants. The company is preparing its inventory of medical gloves and gowns for shipment, which will help reduce its convertible debt and provide necessary working capital for operations in 2022. Renavotio is also focused on completing the audits for fiscal years 2020 and 2021 and pursuing compliance with OTCQB status. Additionally, its subsidiary, UMCCO, has received a Federal Cage Code, allowing it to bid on government infrastructure projects, with each crew potentially generating $2,500 daily.

Renavotio, Inc. (RIII) received an extension until February 15, 2022, to file its third quarter Form 10-Q, maintaining its OTCQB status. Following the $1.9 trillion infrastructure bill, the company upgraded operational facilities and is seeking bids for new trucks and equipment reconditioning. Key allocations from the bill include $55 billion for clean water initiatives and $65 billion for broadband deployment. The company is focused on expanding infrastructure operations, particularly in rural areas. Additionally, Renavotio is addressing convertible debt and has secured orders for PPE inventory.

Renavotio, Inc. (OTCQB: RIII) announced a purchase order from an overseas client for $1.7 million worth of nitrile medical examination gloves from its inventory of Personal Protective Equipment (PPE). The order includes an advance payment of $233,796, with the remaining $1,502,204 due upon shipment confirmation. This sale aims to reduce inventory and enhance cash flow, enabling the company to invest in infrastructure and expand its management team. The CEO expressed optimism regarding upcoming infrastructure bids in early 2022.

Renavotio, Inc. (OTCQB: RIII) has announced an initial order of $300,000 for medical examination gloves from an overseas client, as it ramps up its inventory of Personal Protective Equipment (PPE) in anticipation of a potential Covid surge this winter. The company has increased its stock levels of essential PPE, including gowns and nitrile gloves, focusing on U.S. products and overseas partnerships. CEO Billy Robinson emphasized their readiness to meet the expected demand for protective products in schools and medical facilities this winter.

Renavotio, Inc. (OTCQB: RIII) announced that the recent passage of the $1 trillion federal infrastructure bill provides new opportunities for the company. This bill allocates $55 billion for clean water initiatives and $65 billion for high-speed internet access, which aligns with Renavotio's focus on utility management and infrastructure. The company is expanding its operations in rural areas, aiming to bid on projects related to these funds. CEO Billy Robinson emphasized plans for growth through hiring skilled management, upgrading equipment, and targeting new infrastructure opportunities.