Record Breaking Revenues, Profitable Grocery & Retail Public Company with Further Expansion Plus Mobile App Coming in 2022: OM Holdings International, Inc. (Stock Symbol: OMHI) OMHI has a very Low Share Structure
– Operator of Successful, OneMart Grocery in the British Virgin Islands.
– Up-Listed to the OTCQX Market Tier on January 4th.
– Record First Quarter Revenues Increase 33.3 Percent, Net Income Turns Positive, Gross Profit Increases 47.7 Percent.
– 20 Year Exclusive Agreement for Rydeum’s DoGetGo App in 28 Countries.
– Patent Application for Generating an On-Demand Provider Risk/Performance Score Using AI and Blockchain Technology.
– Contactless Debit Cards Issued to the Jamaican Union of Travelers Association, Montego Bay Chapter
OMHI Holdings International, Inc. (OTCQX: OMHI) serves consumers and retail customers by providing a multi-tenant on-demand technology platform for the delivery of goods and services throughout the Caribbean from a single mobile app. OMHI vertically integrates contactless delivery of these essentials, while simultaneously providing multi-modal transportation.
OMHI was formed through the fusion of Rydeum, an on-demand technology platform founded by Mark Hannah in 2019, and OneMart, a 35-year-old grocery store founded by Mark Vanterpool in 1986. The OMHI technology subsidiary, Rydeum partnered with Jamaica’s largest taxicab union (12,000 drivers) in 2021. This segment provides an Uber-, Grubhub-, and Instacart-like platform which uniquely satisfies the needs of local on-demand economies (LODE) in the Caribbean. The OMHI storefront and essential goods subsidiary, OneMart is the second largest grocery provider in the British Virgin Islands. This segment offers groceries, home goods, electronics, furniture, and some building supplies – just like Walmart. It sells wholesales products to restaurants and hospitality venues and caters to retail customers as well. OMHI is a Nevada Corporation headquartered in Miami, Florida.
– Record Results for First Quarter Ended November 30, 2021
Revenues Increase 33.3 Percent, Net Income Turns Positive,
Gross Profit Increases 47.7 Percent
Company Expects to Open Three New Stores in 2022
DoGetGo Mobile App Scheduled to Launch in February
On January 20th OMHI announced its financial results for the first quarter ended November 30, 2021.
For the first quarter of fiscal year 2022 ended November 30, 2021, OMHI reported net income of $155,381, compared to a loss of $51,462 for the period ended November 30, 2020. Revenue for the first quarter of fiscal year 2022 increased 33.3 percent to $8,002,587, compared to $6,002,894 for the three months ended November 30, 2020.
“We had an excellent quarter. With a break in the Covid lockdown and more people traveling, we saw an increase in revenue from food service thanks to the reopening of restaurants, and BVI residents continue to support our supermarkets,” said OMHI CEO Mark Vanterpool. “Our staff returned to a 40-hour week, and we made some additional hires for our new stores. We also saw an increase in deliveries, even though the government lifted restrictions.”
“We continue our commitment to serving our customers and our community throughout these difficult times,” Mr. Vanterpool added. “Additionally, since November we have seen a significant rise in tourism, which gives us increased assurance that this year will be another record one for our company. We also expect significant growth from the three new stores we will open this year, as well as from the launch of our mobile app DoGetGo in Jamaica in several weeks. I am confident fiscal 2022 will be a pivotal year for our goal of becoming a major economic force in the Caribbean retail and mobile app delivery marketplace.”
Summary of the first quarter ended November 30, 2021 (unaudited):
|Total Operating Expenses||$363,947||$40,425|
|Income from Operations||$168,889||$(44,545)|
|Income (loss) per share||$0.00||($0.00)|
|Weighted average shares outstanding||52,200,596||44,400,596|
– OTC Markets Group Welcomes OM Holdings International, Inc. to OTCQX
On January 4th OTC Markets Group Inc. announced OM Holdings International, Inc. (OTCQX: OMHI has qualified to trade on the OTCQX(R) Best Market. OMHI upgraded to OTCQX from the Pink(R) market.
The OTCQX Market provides investors with a premium U.S. public market to research and trade the shares of investor-focused companies. Graduating to the OTCQX Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.
“We are thrilled to see OMHI begin trading on the OTCQX Market,” said CEO of OMHI Mark Vanterpool. “OMHI has been building new stores and gaining market share consistently, even during the pandemic, and we believe we are poised for even greater growth in 2022 and beyond. Graduating to the OTCQX Market will give us enhanced visibility and, ultimately, greater liquidity. We see being a transparent and investor-focused public company as one of our brand’s core values, and trading on the OTCQX Market is core to our growth strategy.”
– Filing of Patent Application for Generating an On-Demand Provider Risk/Performance Score Using AI and Blockchain Technology
On September 29th OMHI announced filing a provisional patent application (63/243,632) for methods and systems to provide business-to-consumer (B2C) on-demand services utilizing artificial intelligence (AI) and ERC223, also known as the Ethereum blockchain.
Previously, OMHI announced a 20 year exclusive agreement for Rydeum’s DoGetGo App in 28 Caribbean countries for the $4.6B food delivery and taxi market. OMHI plans to aggressively launch its DoGetGo app in up to 28 Caribbean countries over the next five years. This patent solves the problem of objectively managing end user experiences during this rapid expansion period.
The OMHI goal for this patent is to utilize AI to learn from past performances of each on-demand service provider and then generate a risk/performance score that anticipates the future experience a consumer may have with that provider, like a credit score. Users will be able to see the score of providers prior to obtaining services and providers will be able to monitor changes to their score in real-time.
To ensure objectivity, transparency, and score standardization across the 28 countries of the Caribbean, scores will be stored on the Ethereum Blockchain to guard against the possibility of esoteric score manipulation.
OMHI believes that this type of accountability is essential to ensure a uniform level of service across the several different cultures, economies, and laws that span these Caribbean countries it plans to serve.
– 200 Contactless Debit Cards Issued to the Jamaican Union of Travelers Association, Montego Bay Chapter
On September 8th OMHI announced it had issued 200 contactless debit cards to the Jamaican Union of Travelers Association (JUTA), Montego Bay Chapter. Previously, on July 13, 2021, OMHI announced its first business to business (B2B), Local On-Demand Technology (LODE-TECH) contract with JUTA, the largest taxicab company in Jamaica.
The control center consisting of two computers, six 32″ monitors, and one 65″ LED TV, which is required for JUTA to manage the DoGetGo platform have been installed in the JUTA Montego Bay office and configured and tested in preparation for launch:
– Rydeum has issued the first 200 driver debit cards, which allow drivers to receive contactless payments shortly after rides are complete.
– Cards have been issued through a relationship which Rydeum has previously established with MasterCard & Intercash.
– Debit cards give drivers an option to withdraw cash from ATMs or to use at any vendor that accepts MasterCard.
For more information on OM Holdings International, Inc. (OMHI) visit: https://omholdingsinc.com.
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