Renavotio, Inc. - RIII STOCK NEWS

Renavotio, Inc. (OTCQB: RIII) announced the appointment of Marcum LLP as its new independent auditor, effective October 25, 2021. This change follows the resignation of the former auditor, Yichien Yeh, due to the revocation of their PCAOB registration. The resignation was not related to any disagreements over accounting practices. The company will re-audit its 2020 financials alongside 2021 and plans to file a new S-1 for potential up-listing. The Board of Directors approved the transition, with positive remarks from CEO Billy Robinson on Marcum's experience.

Renavotio, Inc. (OTCQB: RIII) announced a Settlement and Release Agreement with its subsidiary, Renavotio Infratech, Inc., and other parties. The company exchanged Series D Preferred shares worth $2.2 million for a 50% stake in Harrowdale Ltd., aimed at expanding personal protective equipment (PPE) opportunities globally. Additionally, RIII assigned a $1.2 million judgment related to counterfeit masks, with proceeds intended to reduce debt and enhance operating capital. Funding partner Teybridge Capital Ltd. will contribute up to $4.2 million to the partnership.

Renavotio, Inc. (OTCQB: RIII) is positioned to capitalize on the ongoing discussions around the $1.2 trillion federal infrastructure bill following its approval by the House and Senate. CEO Billy Robinson expressed optimism about the bill's potential to unlock infrastructure spending, particularly in 5G and utility construction. The company has already enhanced its capabilities in underground fiber optic installation, aligning with federal mandates to improve rural internet services. Reports indicate a projected $5.937 trillion investment in infrastructure is needed from 2020 to 2029, emphasizing Renavotio's strategic focus on utility management and construction.

Renavotio, Inc. (OTCQB:RIII) announced its participation in the SNN Network Summer Virtual Event 2021 on August 18, 2021, at 9:30 AM ET. CEO Billy Robinson will present and engage with investors during the event. The company focuses on innovative infrastructure solutions, including 5G, medical protective equipment, and utility management. Attendees can access the live presentation via webcasting and book 1on1 meetings with company representatives. Recordings of the presentations will also be available post-event.

Renavotio, Inc. (RIII) reported significant financial growth for the first half of 2021, highlighting a 100% increase in revenue to $2.58 million compared to the previous year. Gross profit reached $0.76 million with a margin of 29.5%, and total assets grew by 1,177% to $5.9 million. Notably, the company reduced its debt obligations and secured new projects in 5G infrastructure. Management expressed confidence in sustaining growth and enhancing shareholder value.

Renavotio, Inc. (OTCQB: RIII) announced significant developments, including a 5G fiber installation subcontract won by its subsidiary, Cross-Bo Construction, for a major telecommunications firm. This project aims to enhance rural connectivity across parts of Oklahoma, Kansas, and Arkansas.

Additionally, the company provided updates on a $2,150,000 order for surgical gloves, detailing the logistics of the purchase and emphasizing its role in ongoing organic growth and infrastructure projects. Renavotio's strategic positioning supports their infrastructure initiatives amidst evolving market opportunities.

Renavotio, Inc. (OTCQB: RIII) has engaged a leading investment bank to enhance its growth strategy, focusing on infrastructure, 5G, and utility management. Year-to-date, the company has eliminated over $900,000 in debt using restricted equity, with $300,000 remaining. Plans are in place to clear this by August 2021. Renavotio is optimistic about the potential benefits of the Biden administration's Infrastructure Bill, anticipating increased funding for its projects. The company aims to up-list to a national securities exchange, which would enhance its market visibility and shareholder value.

Renavotio, Inc. (OTCQB:RIII) announced its participation at the Planet MicroCap Showcase: VIRTUAL 2021 on April 21, 2021 at 8:00 AM ET. CEO Billy Robinson will present and engage with investors. The showcase focuses on innovative infrastructure solutions across sectors like medical protective equipment, 5G, and IoT. Attendees can register for 1-on-1 meetings and view the presentation via the conference platform. For more details and access links, visit the Planet MicroCap Showcase website.

Renavotio, Inc. (OTCQB:RIII) reported 2020 financial results, achieving $4.1 million in revenue, primarily driven by acquisitions in the PPE sector and utility management. The company generated $3.1 million from PPE alone. Despite revenue growth, Renavotio posted a net loss of $1.76 million, consistent with the prior year. Key developments included partnerships to enhance its PPE offerings and plans for infrastructure expansion. The company aims to leverage its acquisitions and strategic alliances to drive future growth.