Tulsa, OK, November 17, 2020 – OTC PR WIRE — Renavotio, Inc (OTC US: RIII), (“Renavotio,” or the “Company”) today announced its recently-filed unaudited financial results for the third quarter ended September 30, 2020. For further information, please refer to the Company’s recently-filed 10Q on EDGAR.
RII has recently acquired data records and websites targeting telecommunication markets, health and wellness markets, and potential customers such as medical practitioners, pharmacies, health industry professionals, government, and hospitals. The Company has also recently completed product-specific websites as potential revenue generating opportunities and leads for each of the operating divisions in its efforts to expand its medical and utility in infrastructure brands. RII plans to launch these branded marketing websites to drive business and capture interested parties contact information and to facilitate organic growth in these vertical markets in the near future.
“We are very excited to be nearing completion of Renavotio’s business transformation by building out our three operating divisions: Utility Management & Construction, Infrastructure, and Personal Protective Equipment (PPE) & Medical Manufacturing. We look forward to continued growth in the coming quarters and believe that our re-branding and new focus for the Company will create shareholder value in the near future,” said William “Billy” Robinson, CEO.
Third Quarter 2020 Operational and Other Financial Highlights
|STATEMENTS OF OPERATIONS|
|For the Nine Months Ended September 30,|
|Revenue||$ 2,149,095||$ 234,812|
|Cost of Revenues||1,258,494||111,265|
|General and administrative||1,784,764||676,727|
|Net Income (Loss) from Operations before Taxes||(1,133,250)||(553,180)|
|Provision for Income Taxes||–||–|
|Foreign currency translation adjustment||(2,616)||(66)|
|Net Income (Loss)||(1,135,866)||(553,246)|
|Earnings (Loss) per Common Share-Basic and Diluted||$ (0.01)||$ (0.01)|
|Weighted Average Number of Common Shares Outstanding|
|Basic and diluted||87,911,551||75,053,480|
ABOUT RENAVOTIO, INC.:
Renavotio’s business focuses on three unique infrastructure opportunities, including medical protective equipment, 5G, utility construction, utility management, IoT, water, waste management technology, and related industries. www.renavotio.com
The Company’s wholly owned subsidiary, Renavotio Infratech, Inc. (“RII”), includes business and acquisition strategies concentrating on medical protective equipment and infrastructure with utility construction and consulting/operational agreements with small towns or county CO-OPS that operate their own water and sewer systems, providing long-term savings, utilizing smart-utility monitoring, and dedicated engineering and service personnel. These platforms capture utility data from hand-held GPS devices or in-place sensors, with planned use of drones to identify waste contamination, leak detection, and topographic underground utility installation planning. RII’s wholly owned subsidiary, Utility Management Corp, is a holding company focused on infrastructure, 5G, utility construction, utility management, IoT, water and waste management technology, and related industries. Utility Management Corp’s subsidiary, Utility Management and Construction (UMCCO), is an engineering and smart utility management company that provides a one-stop solution to rural communities to reduce the consumption of electricity, natural gas, and water utilities for commercial, industrial and municipal end users. UMCCO’s unique approach creates immediate bottom-line savings for its clients, by providing engineering, planning, permitting and installation through their second wholly-owned subsidiary, Cross-Bo Construction, which specializes in water, sewer, Telcom, and 5G design and installation, establishing a long-term value proposition while also achieving respective sustainability goals. www.umcco.com
Tritanium Labs USA, Inc. is an Oklahoma based supply chain technology company and the manufacturer of consumer products available at Costco Warehouse Clubs and other fine retailers across the United States. The TriCleanz, TruCleanz, and TruSafe brands of sanitizers, disinfectants, sanitizing wipes, and Pro N95 USA, LLC with plans to become a US manufacture of N95 mask providing personal protective equipment (PPE) that will be manufactured in the United States with transparency, trust, and traceability. Its products are manufactured using the same Tritanium Traceability Technologies it provides to its manufacturing and logistics clients. Since 2018, Tritanium is working towards being a leader in Supply Chain Traceability Solutions and the founder of one of the first public distributed ledger immutable traceability technology specifically for product traceability. Tritanium’s solutions, software developers and technology providers can add immediate global traceability to sickness, food, manufacturing and logistic applications. www.tritaniumlabs.com
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release includes certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include general business, economic, competitive, regulatory, capital markets, political and social uncertainties. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements, including the level of sales of PPE products as well as whether the Company will successfully conduct PPE production. Accordingly, readers should not place undue reliance on forward-looking statements. No information in this news release should be construed as any indication whatsoever of the Company’s future stock price, revenues, or results of operations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
IR Contact :
Utility Management Corp.
Tritanium Labs, Inc.
601 South Boulder Ave.
Tulsa, OK 74119
Skyline Corporate Communications Group, LLC
Lisa Gray, Senior Account Manager
One Rockefeller Plaza, 11th Floor
New York, NY 10020
Office: (646) 893-5835
James S. Painter III
Emerging Markets Consulting, LLC
390 North Orange Avenue, Suite 2300
Orlando, FL, US, 32801
48 Wall Street Suite 1100
Skype ID: james.painter47