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Innovest Global Inc. $932K in Current Assets and Cancelled 50 Million Shares, Q1 Highlights

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CLEVELAND, April 17, 2018 (GLOBE NEWSWIRE) -- Innovest Global Inc. (OTC PINK:IVST) reports over $600K in cash on hand and $708K in first quarter revenue. Innovests exit from mining cancelled 50 million shares. Financials posted yesterday afternoon and are available on the OTC Markets website.

Successful acquisitions in the Commercial & Industrial Division during the first quarter led to the higher than expected revenue number. Total current assets of $932,000 compared to current liabilities of $352,000 show the company has a “quick ratio”, or short-term acid test of financial strength of 2.6, four times stronger than the Conglomerates industry average ratio of 0.6.

Our board of directors is poised for the next level. John Klopp and Jason Painley, CPA are independent members that joined Dan Martin, the CEO and largest shareholder, who is the Chairman.  

Last week, Innovests Leadership team met in Cleveland, and in addition to Q1 review, presented to several acquisition candidates in a group setting. “We have several acquisition candidates that are impressive just as they are. I am ecstatic at what we can do together, as a team, if they move forward with us as a group.” said Innovest CEO, Dan Martin. “It was invaluable to be face to face, and give them an opportunity to interact with our team and each other.”

Innovest is in the Conglomerates Industry, currently operating a Commercial & Industrial Division under the leadership of Division President Damon Mintz, and soon launching a Biotechnology & Health Sciences Division, by Division President Dr. Dwain Morris-Irvin, Ph.D., M.P.H. Revenue growth strategy continues to focus on organic sales, and acquisitions of existing companies that are strategically appropriate. Management is very enthusiastic about the start of 2018 and the continued demand for its products, services, and partnership opportunities.

More about our Independent Board of Director Members:

Jason Painley:

Mr. Painley was an Examiner and Accounting Policy Specialist for the Federal Reserve Bank of Cleveland From 2001 to 2011, with responsibilities at the national Federal Reserve System level. While there, he was charged with monitoring, analyzing, interpreting, and proactively addressing a wide variety of factors related to ensuring that financial institutions were operating in a safe manner, and in compliance with banking laws and regulations. He also led onsite examinations of institutions ranging from small, to over $250 billion assets, and worked constructively with financial institution executives and boards of directors.

Since then, until last month he was Senior Vice President and Chief Risk Officer of Park National Corporation (NYSE: PRK), which has over $7 billion in assets and employs nearly 2,000 associates.  His job spanned all functional areas of the bank, and was to constantly evolve a risk-aware culture in order to avoid, proactively minimize, and immediately address all forms of potential and manifested risks, financial and otherwise. Now, he has taken on greater functional responsibility becoming the Chief Financial Officer of Ohio based Mechanics Bank.

John Klopp:

Mr. Klopp is Chief Executive Officer, of the second-generation firm Klopp Investment Management headquartered in Cleveland, OH. The firm is a large-cap, blue chip platform fund, which is available to Klopp clients and trust accounts directly, and others through their financial advisors and investment platforms. Their balanced blue chip strategy of investing in large companies, has averaged 13.8% growth per year 2009-2017.

He received an MBA from Baldwin Wallace College, then worked in New York City and for many years was responsible for inter Broker-Dealer transactions, then Compliance, Trading, Research, Asset Allocation, and Portfolio Management. He is a member of the Cleveland Society of Security Analysts and is active in the Chartered Financial Analysts program.

Follow us on Twitter @innovestglobal for important company updates! For more information on Innovest contact info@innovestglobal.com, or call Innovest investor Relations Matt Rego at 216.815.1122.


Safe Harbor Statement: This news release contains "forward-looking statements", which are statements that are not purely historical and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission. 

For more information on Innovest Investor Relations, Spotlight Growth, please visit http://www.SpotlightGrowth.com and http://www.Corporate.SpotlightGrowth.com.

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Contact Information
Corporate Office:
(216) 815-1122
Twitter @innovestglobal