Tulsa, Oklahoma, August 14, 2020 – OTC PR WIRE – Success Entertainment Group International, Inc. a/k/a/ Renavotio, Inc., (OTCQB: SEGN) (“Renavotio,” or the “Company”), today announced its recently-filed unaudited financial results for the second quarter ended June 30, 2020. For further information, please refer to the Company’s recently-filed 10Q on EDGAR.
In response to the current COVID-19 medical crisis and the continuing need for such products – both now and in the future – RII 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 that should provide revenue generating opportunities and leads for each of the operating divisions. This data should be a huge benefit to the Company and help expand its medical and utility infrastructure brands, product marking websites, and customer data bases. RI 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 hope to close our acquisition of PPE Solutions Group, Inc. soon, and expect to report meaningful revenue in the third quarter of 2020 once we report our consolidated financials from acquisitions closing in that quarter. 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.
Second Quarter 2020 Operational and Other Financial Highlights
|STATEMENTS OF OPERATIONS|
|For the Six Months Ended June 30, 2020|
|Revenue||$ –||$ 194,641|
|Cost of Revenues||–||98,858|
|General and administrative||254,659||520,004|
|Net Income (Loss) from Operation before Taxes||(254,659)||(424,221)|
|Provision for Income Taxes||–||–|
|Net Income (Loss)||(254,659)||( 424,221)|
|Earnings (Loss) per Common Share-Basic and Diluted||$(0.00)||$(0.01)|
|Weighted Average Number of Common Shares Outstanding|
|Basic and diluted||82,033,352||75,000,000|
ABOUT SUCCESS ENTERTAINMENT GROUP INTERNATIONAL, INC. (SEGN):
Success Entertainment Group International Inc. (OTCQB: SEGN), plans to operate three (“3”) infrastructure and financial-based models and fiber optic, 5G, utility management, medical technology, and personal protective equipment (PPE) infrastructure products, e-commerce based organization, sharing platforms, and database membership financial growth management. Such revenue streams may contribute viable and steady growth to the Company.
ABOUT RENAVOTIO, INC. (RII):
Renavotio, Inc. is a holding company focused on infrastructure opportunities including Medical, 5G, utility construction, utility management, IoT, water, waste management technology, and related industries. RII initial targets along with recent medical protective gear are infrastructure companies with utility construction, 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.
ABOUT UTILITY MANAGEMENT CORP
Utility Management Corp is a holding company focused on infrastructure, 5G, utility construction, utility management, IoT, water and waste management technology, and related industries. One subsidiary, Utility Management and Construction (UMCCO), is an engineering and smart utility management company that provides a one-stop solution for 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 clients, by providing the engineering, planning, permitting and installation through their second wholly-owned subsidiary, Cross-Bo Construction, specializing in water, sewer, Telcom, and 5G design and installation, establishing a long-term value proposition while also achieving respective sustainability goals.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release includes certain “forward-looking statements” under applicable US securities legislation. 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 which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals, where applicable and the state of the capital markets. 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. Accordingly, readers should not place undue reliance on forward-looking statements. 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.
Success Entertainment Group International Inc.
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