Starfleet Innotech Reports Second Quarter 2022 Results

Rhea-AI Summary

Starfleet Innotech (OTC: SFIO) reported a revenue of $7.05 million for the quarter ending June 30, 2022. Key milestones include converting approximately 269 million shares into Series B Preferred Shares and completing feasibility studies for its flagship Epiphany Cafe in Southeast Asia. The company signed Letters of Intent for acquisitions in the Philippines and Mexico, enhancing its portfolio. The appointment of Steven Insalaco as president will strengthen operations and drive growth. Starfleet aims for uplisting onto Nasdaq, reflecting its ongoing commitment to shareholder value.

Positive

• Revenue of $7.05 million for Q2 2022.
• Converted 269 million shares to Series B Preferred Shares to enhance long-term engagement.
• Completed feasibility studies for potential F&B expansion in Southeast Asia.
• Signed multiple Letters of Intent for acquisitions, broadening its market reach.
• Onboarded Steven Insalaco as president to improve operations and growth.

Negative

• None.

NEW YORK, Aug. 18, 2022 (GLOBE NEWSWIRE) -- Starfleet Innotech, Inc. (OTC Pink: SFIO) today reported financial and operational results for the quarter ended June 30, 2022. The company posted a quarter revenue of $7.05 million, and accomplished a number of major milestones towards its goal of uplisting onto the Nasdaq.

“This quarter’s results speak to Starfleet’s continued commitment to forge new global business opportunities,” said Jeths Lacson, Starfleet Innotech CEO. “As always, we are championing shareholder value, which reflects not only in our achieved milestones but in the infrastructure we continue to build in order to achieve long-term growth.”

During the period covered, the company was able to successfully convert approximately 269 million shares held by current officers and key partners into a new class of Series B Preferred Shares. The goal of this initiative is to demonstrate Starfleet’s commitment for long term engagement. Within the specific key divisions of the company, progress has been made in expanding across Real Estate and F&B. In real estate, a detailed business plan has been completed for MORAYA, charting its pilot micro-township projects in the Philippines.

Meanwhile, market research and feasibility studies have been completed for Starfleet’s flagship F&B business, Epiphany Cafe. These studies map out potential expansions for Epiphany Cafe beyond New Zealand and Australia into Southeast Asia, specifically in Malaysia and the Philippines. In addition to these plans, the company is also in early talks for potential expansions into the US through M&A with established, multi-store brands already in the country.

Following the covered period, Starfleet also managed to secure a number of strategic partnerships and onboard critical new talents. These milestones include:

• Letter of Intent signed on July 7, 2022, exploring an acquisition of Enjoy Health Philippines, a company involved in the distribution of organic and superfood products in the Philippines, UAE, and the US.
• Letter of Intent signed on July 16, 2022, exploring an acquisition of Process Plastic De Mexico (PPM Toys), a Mexico corporation, manufacturing several branded/licensed toys. Operating since 1970, with more than ten product lines and have sold more than 75 million toys, PPM brings not only significant business to the ecosystem, but also major opportunities in the fields of licensing, merchandising, e-commerce, and non-fungible tokens. PPM Toys has since completed its initial financial audit as part of Starfleet’s due diligence requirements.
• Letter of Intent signed on July 20, 2022 exploring an acquisition of Ecoelements, Inc., a company that owns and distributes ‘Herbs of the Earth’ food supplements manufactured in the US, distributed in the Philippines, as well as in other parts of Asia and the US.
• Soft Landings Business Accelerators, Inc. joined Starfleet Innotech on July 26, 2022 as a strategic financial advisory team to oversee major projects in the Philippines. Soft Landings’ services span financial advisory, M&A, asset joint ventures, project term loans, general project management, sales and marketing management, and more.
• The company officially onboarded its new president, Steven Insalaco. Insalaco brings over 30 years of executive management, corporate finance, and family office experience to SFIO. His expertise is focused company operations and capital structure, utilizing mergers and acquisitions, as well as other business modalities, to improve efficiencies and drive growth, valuations, and returns for capital sources and investors.
  

For media enquiries, please contact:
Craymond Yeong, PR & Marketing Specialist
Starfleet Innotech, Inc.
Phone: (+64) 21 0833 2966
Email: info@sfio.co.nz
Twitter: @SFIO_Inc
Facebook: SFIO
YouTube: SFIO (Starfleet Innotech)

About Starfleet Innotech, Inc.
Starfleet Innotech, Inc. (OTC: SFIO) is a global investment holding company focused on innovation through disruptive collaborations across its three key industries: Food and Beverage (F&B), Real Estate, and Technology. With a strong presence across New Zealand, Australia, Malaysia, the United Arab Emirates, the United States, and the Philippines, SFIO makes strategic investments in high-growth businesses, building synergies across its diverse portfolio to provide maximum shareholder value. Guided by tradition, driven by innovation, and enabled by collaboration—SFIO is on a hyper-growth path to build a thriving global business ecosystem, shaping the futures of its core industries.

FORWARD LOOKING STATEMENTS

The statements contained herein may contain certain forward-looking statements relating to Starfleet Innotech, Inc. “Starfleet” that are based on the beliefs of Starfleet as well as assumptions made by and information currently available to Starfleet’s management. These forward-looking statements are, by their nature, subject to significant risks and uncertainties. These forward-looking statements include, without limitation, statements relating to Starfleet’s business prospects, future developments, trends and conditions in the industry and geographical markets in which Starfleet operates, its strategies, plans, objectives and goals, its ability to control costs, statements relating to prices, volumes, operations, margins, capital expenditures, overall market trends, risk management and exchange rates.

When used herein, the words “anticipate”, “believe”, “could”, “estimate”, “expect”, “going forward”, “intend”, “may”, “ought to”, “plan”, “project”, “seek”, “should”, “will”, “would” and similar expressions, as they relate to Starfleet or Starfleet’s management, are intended to identify forward-looking statements. These forward-looking statements reflect the Starfleet’s views at the time such statement were made with respect to future events and are not a guarantee of future performance or developments. You are strongly cautioned that reliance on any forward-looking statements involves known and unknown risks and uncertainties. Actual results and events may differ materially from information contained in the forward-looking statements as a result of a number of factors, including any changes in the laws, rules and regulations relating to any aspects of Starfleet’s business operations, general economic, market and business conditions, including capital market developments, changes or volatility in interest rates, foreign exchange rates, equity prices or other rates or prices, the actions and developments of the Starfleet’s competitors and the effects of competition in the food manufacturer and service sector , technology applications and components, and real estate development. Sales and property management on the demand for, and price of, Starfleet’s products and services, various business opportunities that Starfleet may or may not pursue, changes in population growth and other demographic trends, including mortality, pandemics, morbidity and longevity rates, persistency levels, Starfleet’s ability to identify, measure, monitor and control risks in Starfleet’s business, including its ability to manage and adapt its overall risk profile and risk management practices, its ability to properly price its products and services, including property development capital expenditures and establish reserves for future policy benefits and claims, seasonal fluctuations and factors beyond the Starfleet’s control. Subject to the requirements of the Listing Rules, Starfleet does not intend to update or otherwise revise such forward-looking statements, whether as a result of new information, future events or otherwise. As a result of these and other risks, uncertainties and assumptions, forward-looking events and circumstances discussed herein might not occur in the way Starfleet expects, or at all. Accordingly, you should not place reliance on any forward-looking information or statements. All forward-looking statements herein are qualified by reference to the cautionary statements set forth in this section.

FAQ

What were Starfleet Innotech's financial results for Q2 2022?

Starfleet Innotech reported a revenue of $7.05 million for the quarter ended June 30, 2022.

What plans does Starfleet Innotech have for expanding its business?

Starfleet is exploring expansions in Southeast Asia and potential acquisitions in the Philippines and Mexico.

Who joined Starfleet Innotech as president recently?

Steven Insalaco has been appointed as the new president of Starfleet Innotech.

What is Starfleet Innotech's goal regarding Nasdaq?

Starfleet aims to achieve uplisting onto Nasdaq to enhance shareholder value.

What strategic moves did Starfleet Innotech make recently?

Starfleet signed Letters of Intent for acquisitions and completed feasibility studies for its Epiphany Cafe brand.