ATLANTA, GA / ACCESSWIRE / November 16, 2018 / CRUZANI, Inc. (OTC PINK: CZNI), a North American business development company focused on creating and acquiring franchise concepts and peripheral food-related businesses throughout North American is excited to report their financial results for the third quarter ended September 30, 2018.
With the Company recording its first-ever revenue, Everett Dickson, Chief Executive Officer of Cruzani Inc. (CZNI) commented, "We are very excited to announce that during the third quarter, Cruzani along with its subsidiaries, proudly recorded our first ever revenue. It is an exciting time for Cruzani, we are proud to be able to record revenue with our growing company. This growth was led by two of our subsidiary companies; Oventa Foods and our newest acquisition - Recipe Food Co. which has enhanced our restaurant image in the downtown Toronto Dining District. We have been able to expand on our catering services to special events with companies such as Shopify."
Mr. Dickson further commented "At our Oventa Foods subsidiary, we began to accelerate growth, increase our product offerings, and aggressively reduce the outstanding mortgage on the facility. October showed the results materializing with $93k in sales for the month. This represents a 100% growth over September. We are extremely confident that our focus on consumer satisfaction will drive growth on all of our brands for many years to come."
Cruzani reported initial revenue of $95K for Q3. These revenues reflected initial sales growth from their Oventa Foods subsidiary acquisition that occurred at the end of the second quarter 2018. The revenue reported represents only a partial quarter of revenue since the Oventa asset purchase.
The Recipe Food Co acquisition was completed during the third quarter, which leads to total revenues for the quarter growing substantially in comparison to the prior year. Cruzani is now driving quarterly revenues for the first time in their history.
Everett Dickson, CEO summarizes as follows, "We're excited to report our first ever revenue for our Q3 reporting period. Our sales growth was driven by the launch of our Oventa Foods subsidiary, which possesses a 40,000 square foot bakery operation in the Greater Toronto Area (GTA) of Ontario, Canada. We also recognized initial revenue on our Recipe Food Co. acquisition secured in the final month of Q3."
"With Cruzani now driving sales for a full quarterly reporting period, we are excited to project that our Q4 revenues to grow exponentially to $300K to $400K based on the current monthly revenue run rate from our Oventa Foods and Recipe Food Co. subsidiaries. We are also expecting to secure our next acquisition; VitaminFizz, during this final quarter of 2018, which should substantially enhance quarter over quarter growth."
"I wish to thank our shareholders for their support as we remain focused on our mission of acquiring companies that fit into our vision and that enhance shareholder value via expanded product offerings and growth in the food sector."
About CRUZANI, Inc.
CRUZANI Inc., formerly US Highland, Inc., is a franchise development company that builds and acquires popular franchise concepts, and other food related businesses, throughout the United States and International markets. Our management team selects up and coming concepts with substantial growth potential. We bring fresh innovative brands to consumers that have great potential. All of our brands are unique in nature by focusing on niche markets with untapped potential for development. CRUZANI maintains social media accounts for the purposes of SEC Fair Disclosure at www.CRUZANI.com/Cruzani-CEO-Blog, https://twitter.com/CruzaniCEO and https://www.facebook.com/Cruzani-2216678448562308
Safe Harbor Statement
This communication contains statements that may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of US Highland, Inc. and members of its management as well as the assumptions on which such statements are based.
Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully, and the ability to complete before-mentioned transactions.
The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
For More Information
Everett M. Dickson, CEO
3500 Lenox Road, Suite 1500
Atlanta, GA 30326
(404) 419-2253
info@cruzani.com
www.cruzani.com, http://twitter.com/CruzaniCEO, and http://www.facebook.com/Cruzani-221667844562308
SOURCE: CRUZANI, Inc.
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https://www.accesswire.com/528244/Cruzani-Incs-New-Acquisitions-Lead-to-Record-Third-Quarter-Results
