NEW YORK, NY / ACCESSWIRE / November 15, 2023/ Starfleet Innotech, Inc. (OTC PINK:SFIO), the global investment holding company, proudly unveils its exceptional financial achievements for the third quarter ended September 30, 2023, signaling sustained operational prowess and strategic resilience.
Third Quarter Financial Triumphs Reflect Operational Excellence
- Revenue soared to an impressive $7.25 million.
- Gross profit reached a substantial $4.47 million.
- Net operating income demonstrated a robust performance at $1.47 million.
- Total liabilities recorded a significant reduction from $7.58 million to $4.97 million, showcasing Starfleet's commitment to financial prudence.
The remarkable financial results are a testament to Starfleet's unwavering dedication to operational excellence over the years. The company's consistent and sustainable operations have fortified its existing businesses, providing a stable foundation for future growth.
Strategic Consistency Paves the Way for Future Uplisting
Starfleet's unwavering commitment to consistent operations serves as a springboard for its anticipated uplisting in the near future. The company's steadfast adherence to its roadmap has yielded consistent results, positioning it for a successful transition and enhanced market visibility.
In alignment with this strategic consistency, Starfleet Innotech proudly announces:
Expanded Share Buyback Program:
Building on its commitment to optimizing shareholder value, Starfleet will continue its share buyback program for the next 6 months. This initiative underscores the company's proactive approach to enhancing its capital structure and reinforcing investor confidence.
Appointment of Reputable Auditor:
Recognizing the significance of transparent financial reporting, Starfleet Innotech has appointed a reputable auditor to uphold the highest standards of financial integrity. This step not only enhances the credibility of the company's financial statements but also aligns with the prerequisites for future uplisting. Details of the appointed auditor will be disclosed by year end.
Results Propel Starfleet Towards Milestones
These stellar results not only affirm Starfleet's operational resilience but also serve as a dynamic catalyst propelling the company towards the milestones set to be achieved by the end of the financial year. The financial triumphs act as a formidable driving force, charting the course for Starfleet's continued success.
Third Quarter Business Highlights Showcase Global Opportunities
- On August 21, 2023, Starfleet Innotech, Inc. (OTC:SFIO) entered into a share buyback agreement with Bounce Mobile Systems, Inc (OTC:BNCM), involving the repurchase of 100 million common shares subject to terms and final settlement. This strategic move underscores Starfleet's commitment to optimizing its capital structure for enhanced shareholder value.
- August 1, 2023, witnessed Starfleet receiving a signed Letter of Intent (LOI) from Brown Capital Funding International (BCFI) outlining a long-term, non-dilutive funding (loan) to fuel Starfleet's F&B and Real Estate projects. The subsequent commitment letter from BCFI on August 26 solidified the terms, further fortifying Starfleet's financial foundation.
- In an ongoing due diligence process, Starfleet is engaging with another two institutional investors for non-dilutive funding. This strategic initiative aims to support the execution of real estate projects and facilitate the expansion of Epiphany Café in North America starting in 2024.
Starfleet Innotech's financial triumphs and strategic initiatives underscore its unwavering commitment to operational excellence, consistency, and future growth. The company is poised for continued success as it navigates towards its envisioned milestones.
Contact Name - Jeths Lacson
Contact Phone Number - +64 21337329
Contact Email - [email protected]
SOURCE: Starfleet Innotech, Inc.