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

CLEVELAND, April 17, 2018 -- 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 [email protected], or call Innovest investor Relations Matt Rego at 216.815.1122.

http://www.innovestglobal.com 

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