SFLMaven Announces $11 Million Preliminary 2021 Revenue Guidance

Rhea-AI Summary

SFLMaven Corp. (OTC PINK:SFLM) estimates its revenues will grow nearly 40% year-over-year to at least $11 million for 2021. This projection follows a record weekly sales figure of $318,000 and $2.7 million in first quarter revenues. The company aims to enhance profitability through improved advertising strategies and diversifying sales channels. SFLMaven plans to complete an audit and file a Form 10 to transition to the OTCQB exchange, eventually targeting a Nasdaq listing.

Positive

• Estimated revenues expected to grow nearly 40% YoY to at least $11 million.
• Achieved a weekly sales record of $318,000.
• First quarter revenues reached $2.7 million.
• Plans to enhance profitability through refined ad campaigns and sales diversification.
• Aiming for transition to OTCQB and potential Nasdaq listing.

Negative

• None.

Company Expects Revenues to Grow Nearly 40% YoY to at Least $11.0 Million

FORT LAUDERDALE, FL / ACCESSWIRE / July 15, 2021 / SFLMaven Corp. (OTC PINK:SFLM), ('SFLMaven' or the 'Company'), a leading provider of high-end luxury goods, today announced that estimated revenues for the year ending December 31, 2021 are expected to grow to at least $11 million.

"This preliminary estimate is based on the accelerating pace of revenue growth, including the recent multi-year weekly sales record of $318,000 and first quarter revenues of $2.7 million," said Joseph Ladin, Chief Executive Officer of SFLMaven. "Our conservative projections now put us on track to generate at least $11 million of revenue this year, a nearly 40% increase over 2020 revenues and a return to our pre-pandemic revenue base.

"Combined with an increasingly strong gross margin profile driven by robust competitive bidding dynamics for our one-of-a-kind products, we believe operational execution in the months ahead will transition us towards near-term profitability. These efforts include refining ad campaigns to reduce expenses, improving advertising efficiency and scaling the quantity of listings. We are also broadening our multi-channel digital strategy and exploring other sales channels outside of eBay to diversify and expand our reach - we hope to provide more color on this front shortly.

"Looking ahead, we are turning our focus towards completing an audit of our financial statements so that we can file a Form 10, become fully reporting and move to the OTCQB exchange as an interim stop towards our longer-term goal of an eventual Nasdaq listing. I look forward to working closely with the team at SFLMaven to create value for all of our stakeholders," concluded Ladin.

Final recognized revenue is subject to the SFLMaven Corp.'s annual and quarterly audits and will accordingly be released with the Company's audited financial statements and related annual and quarterly reports once fully reporting.

About SFLMaven

SFLMaven Corp. (OTC:SFLM), is a premium provider of high-end luxury goods to discerning clientele globally. SFLMaven has driven over $130 million in sales and 98,000 positive reviews since inception, famous for its Thursday Night Auction events on its top-rated eBay store. For more information, please visit the Company's website at www.sflmaven.com or follow the Company on Twitter at @sflmaven.

Forward-Looking Statements

This press release may contain forward-looking statements, including information about management's view of SFLMaven Corp.'s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words 'believes,' 'expects,' 'intends,' 'plans,' 'anticipates,' or 'may,' and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of SFLMaven, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on SFLMaven's future results. The forward-looking statements included in this press release are made only as of the date hereof. SFLMaven cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, SFLMaven undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by SFLMaven.

Investor Relations Contact:

Lucas Zimmerman
MZ Group - MZ North America
949-259-4987
SFLM@mzgroup.us
www.mzgroup.us

SOURCE: SFLMaven Corp.

View source version on accesswire.com:
https://www.accesswire.com/654399/SFLMaven-Announces-11-Million-Preliminary-2021-Revenue-Guidance

FAQ

What are SFLMaven's revenue expectations for 2021?

SFLMaven Corp. expects revenues to grow nearly 40% year-over-year to at least $11 million for 2021.

What was SFLMaven's first quarter revenue?

SFLMaven reported first quarter revenues of $2.7 million.

What record sales figure did SFLMaven achieve recently?

SFLMaven achieved a weekly sales record of $318,000.

What steps is SFLMaven taking to improve profitability?

SFLMaven plans to enhance profitability by refining ad campaigns, improving advertising efficiency, and diversifying sales channels.

Is SFLMaven planning to move to a different exchange?

Yes, SFLMaven plans to complete a financial audit and file a Form 10 to transition to the OTCQB exchange, with a long-term goal of a Nasdaq listing.