VICTORY MARINE HLDGS CORP - VMHG STOCK NEWS

Victory Marine Holdings (OTC PINK:VMHG) reported a near 300% increase in gross sales for 2021, totaling $6.2 million, up from $2.2 million in 2020. CEO Orlando Hernandez attributed this record performance to the company's resilience amid inventory shortages and the impacts of COVID-19. Despite industry predictions of a decline in boat sales during the pandemic, consumer demand remained strong. The company is optimistic about its stalled projects as it moves into 2022, aiming to capitalize on recovery and growth opportunities.

Victory Marine Holdings (OTC PINK:VMHG) announced the sale of the 22-meter motor yacht VANTAGE, listed at $1,499,000. The yacht, sold by Mike Smalley of Intermarine Boats, was introduced to the buyer by Carlos Linares of Victory Yachts. Built by Pershing in 2009, VANTAGE accommodates six guests and two crew members. With a maximum speed of 45 knots, it features luxury amenities, including Poltrona Frau upholstery and a state-of-the-art entertainment system. The vessel will also be available for charter in South Florida and the Bahamas.

Victory Marine Holdings (OTC Pink: VMHG) has announced the sale of the ultra-fast motor yacht "Octopussy" for $3,995,000. Built by Heesen, this 43.58-meter yacht can reach speeds of 53.17 knots and has been refitted to increase guest capacity and comfort. Accommodating 10 guests in luxurious cabins, "Octopussy" boasts a main saloon with a bar and entertainment center. The yacht is set to join the charter market in Miami, catering to clients in South Florida, the Bahamas, and the Caribbean.

Victory Marine Holdings Corp. (OTC PINK:VMHG) announced key developments aimed at expanding its product offerings and strengthening partnerships. The company is negotiating to purchase used boats from Venezuela, exploring mergers and acquisitions, and expanding financing and service agreements. Additionally, it plans to enhance its brokerage business and conduct sea trials for new models in the UAE. CEO Orlando Hernandez expressed optimism about securing financing for growth and emphasized the company’s commitment to transparency with shareholders.

Victory Marine Holdings Corp. (OTC PINK:VMHG) reported a significant decline in financial performance for the first quarter of 2021. Net sales were $62,000, down from $181,000 in Q1 2020. The company also faced an operating loss of $137,881, contrasting with a profit of $46,000 in the same period last year. CEO Orlando Hernandez acknowledged the revenue drop but emphasized positive aspects, such as strong deal flow and solid partnerships with yacht manufacturers. The first quarter is typically slow for boat deliveries, and the company aims to expand its offerings.

Victory Marine Holdings (OTC PINK:VMHG) has retained STK Financial to assist in preparing financial statements and reports. Zia Choe, CPA, with over 15 years of experience, will oversee the account. CEO Orlando Hernandez emphasized that this partnership marks a crucial step towards becoming a fully reporting public company and supports future uplisting goals. STK Financial specializes in financial documentation and pre-audit services, implying a commitment to enhancing Victory Marine's financial practices.

Victory Marine Holdings reported a 47% revenue increase in its fiscal 2020 results, totaling $2.3 million compared to $1.6 million in 2019. The company's gross profit surged 148% to $228,000, while the net loss shrank to $24,000 from $163,000 the previous year. Additionally, the company has enlisted Barwicki Investor Relations to enhance its global financial communication and investor outreach initiatives.

Victory Marine Holdings has updated shareholders on its recent activities, now being current in reporting requirements with OTC Markets after the Covid-19 disruption. The company plans to hire an accounting firm for an audit, retain a new Public Relations firm, seek larger office space, and interview candidates with military backgrounds for its ArmaCraft Defense Vessels. CEO Orlando Hernandez expressed confidence in the growth potential of the marine industry, anticipating continued operations and expansion. The company operates in the recreational marine sector, providing a one-stop experience for clients.

Victory Marine Holdings has secured exclusive distribution rights for ArmaCraft's high-speed diver delivery crafts and reconnaissance vessels. This agreement, effective as of March 9, 2021, will be managed by Stealth Marine, a wholly owned subsidiary of Victory Marine. The Trident program, known for its innovative underwater capabilities, is anticipated to undergo sea trials in 2021 with commercial launch by early 2022. The partnership aims to enhance market access in Central America, addressing increasing demands related to security challenges.