SNOHOMISH, WA, September 20, 2021 (GLOBE NEWSWIRE) – Nilam Resources, Inc, (OTC PINK: NILA) $ NILA announces corporate and operating activities and announces three acquisitions.
“The company and team have worked very diligently over the past few months to update and file all filings, disclosures and company information in the OTC markets, as well as to close three large acquisitions. We are pleased with the progress and have achieved Pink Current status and significant sales compared to the prior fiscal quarter, ”said Kim Halvorson, CEO of Nilam Resources.
The company has worked hard with our finance team to update and publish all financial data, disclosures and company information to OTC Markets, OTCIQ. We have met all the requirements to achieve Pink Current status. The company has also issued an Attorney Option Letter relating to our published disclosure statements and financial information. We have achieved our goal of OTC: Pink Current Status and will keep shareholders informed of further progress.
We are confident in the company’s realignment by entering the functional mushroom space through the acquisition of three (3) ecommerce and drop shipping companies.
The highlights of this quarter, including our three new acquisitions:
The shares issued and in circulation amount to 236,062,345. Revenue for that quarter has increased to $ 1,860,936, compared to July 2020 of the same quarter last year, which was zero. Net income for this quarter was $ 293,167 compared to the prior year quarter which was zero. Gross margin was an impressive $ 1,033,305 for the quarter. The acquisitions were made through share swap agreements and / or the assumption of liabilities.
“Moving to a fully online revenue model enables NILA and its newly acquired companies to sustain growth during the pandemic. Many people are switching to online purchases to avoid contact, which enables the company to leverage extensive SEO to reach those seeking and researching the benefits of functional mushrooms from the comfort of their homes, ”stated Kim Halvorson, CEO by Nilam Resources, Inc.
“The company has not seen this excitement in many years and we are very focused on the business goals and objectives,” commented Kim Halvorson, CEO.
The company’s business strategy is simple; Growth through consolidation, acquisitions and increased efficiency. The functional mushroom area is an emerging growth sector in the online e-commerce market for health and wellness. The company believes we need to focus on revenue and growth through acquisitions to lead this new area.
Finally, the company would like to announce the launch of its newly branded website www.nilahub.com. This new web portal will be used as a one-stop-shop for the company’s functional mushroom brands and will also serve as a point of contact for investors to gather additional information about the company and its operations.
ABOUT NILAM RESOURCES, INC.
Nilam Resources Inc. develops, invests in and manages early stage companies. The company is expanding in a new direction by offering “Farm to Consumer” functional medicinal mushrooms and CBD oils shipped directly online. The company is focused on key synergetic acquisitions that offer our customers a wide range of health and wellness options. The company’s new direction will enable it to bring together complementary companies that can deliver vertically integrated solutions for this exciting market. We target the Phyto Functional and Forward Medical markets to create synergies. Since cannabis was legalized, there has been increasing research to back up the observed benefits of CBD and functional mushrooms, which in turn has raised awareness of the various health benefits. The company plans to benefit from this market segment through acquisitions.
SAFE HARBOR DECLARATION
This press release contains forward-looking statements that can be identified by words such as “believes”, “expects”, “potentially”, “plans”, “recommended”, “could”, “should”, “could”, “intends” ” or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the future results implied by such statements. These factors include, but are not limited to, our ability to further improve our products and systems to meet changes in the industry, our ability to expand our customer base and retain existing customers, our ability to be effective in our market segment to compete, the lack of public information about our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue operating, and a limited public market for our common stock, among other risks. Many factors are difficult to predict with accuracy and are generally beyond the control of the company. Forward-looking statements speak only as of the date on which they are made and we undertake no obligation to update any forward-looking statements to reflect circumstances or events that occur after the date of the forward-looking statements.
Signed.
/ S / Mrs. K. Halvorson
For more information just press:
PR CONTACT:
Kim Halvorson
info@nilahub.com
www.nilahub.com
source https://www.bisayanews.com/2021/09/20/nilam-resources-inc-provides-corporate-and-operational/
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