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MarketScreener Homepage  >  Equities  >  OTC Bulletin Board - Other OTC  >  Momentous Holdings Corp.    MMNT

MOMENTOUS HOLDINGS CORP.

(MMNT)
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Delayed Quote. Delayed OTC Bulletin Board - Other OTC - 01/26 11:20:15 am
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Momentous Holdings Corp. Provides March Update

03/31/2020 | 09:01am EST

Momentous Holdings Corp. (Ticker: MMNT) herein after “Momentous” and/or “the Company”) is pleased to provide an update with regards to its development strategy and planned operational activity during the global pandemic.

Following the merger to become a publicly traded company, the Company has subsequently completed its first annual audit as a combined entity. The audit entailed the adoption of several new accounting practices including reverse merger and predecessor/successor accounting. 

The Company is now focused on meeting our set objectives for 2020. Predominantly, we plan to continue with an up-scaled version of our current business model, which has allowed us to generate growing revenues over the years since our inception. With the global spirits market valued at $617.8 billion*, we believe that we will be able to increase our share of the sector over the coming months and years.

Andrew Eddy, CEO, noted “I am pleased to have completed the audit process, the vast scale of the requirements for the audit work exceeded the total staffing at the Company, due to the large number of transactions from the distillery prior to our merger. Going forwards, I am pleased to say that the process will not be as onerous and we have strengthened our internal accounting, compliance and reporting departments. Thankfully our capital raising efforts have been met with success during the past few months which gives us added confidence that investors and consumers see real value in our product line.”

The Company is also taking operational considerations during this period as a result of the COVID-19 derived restrictions. Max Chater, our Chief Distiller, is currently in a personal isolation phase which is to enable him to continue to run operations and the distillery at a minimally reduced capacity. The distillery has undergone an additional deep clean and all other workers have been sent home - with the cessation of all tours and masterclasses at our distillery for the time being. Sales are directed through both online and contactless transactions, with deliveries setup to allow for non-contact collections. 

Max Chater, Chief Distiller, said “These are unprecedented times for the Company. We do however have infrastructure in place to provide our products through safe online delivery which is allowing our customers to continue to enjoy our products at their homes. We have also created our own hand sanitizers and hand balm which we supply free of charge to our customers as our little part in the effort against COVID-19.”

To date, the product range consists of Victory Gin, Victory Bitter, Victory Vodka, Victory Pink and Victory Negroni (Ready-To-Drink Cocktail). Outlined below are some strategies that Management wish to implement in order to boost shareholder value for the coming fiscal year.

• Product expansion of additional cold distilled eco-friendly alcoholic beverages and Ready-To-Drink cocktails, and alternate recyclable packaging options.
• Key industry appointments to Management and Advisory team.
• Redevelopment of our websites with an up-scaled online store, and subsequently opening a tap room or bar.
• Further improve our branding and product design in conjunction with readily identified and costed facilities improvements to production equipment.
• Expansion into alternative flavors of vodka and gin.
• Foreign and domestic sales and distribution network expansion.
• Pop up bars and events.
• Submission of new and existing products for beverage awards to bolster our existing International Wine and Spirit Competition "IWSC" results.
• Name and symbol change to better reflect the business, followed by up-listing to the OTCQB or beyond.
• Production of CBD infused alcoholic products that have been developed in house during the past two quarters.
• Initiate a sales force in North America and commence marketing program within the territory.
• Execute contracts to have our spirit lines supplied at high-profile events such as major sporting fixtures, and to continue to grow our sideline business of distillery tours and cocktail masterclasses.
• Partnership with a strategic airline, or other travel destination or operator.
• Promote brand awareness through celebrity endorsements.
• Expanding sales force to other European countries with an existing market for our products, and sign strategic partnerships to help increase our global presence.

About Momentous Holdings Corp.
Momentous Holdings Corp. is engaged in the business of designing, producing, marketing and selling low carbon, eco-friendly alcoholic beverages. Through its wholly owned subsidiary, V Beverages Limited., the Company produces a range of alcoholic spirits under its trademarked brand 'Victory'. Victory Gin and Victory Bitter are 2018 IWSC award winners, and the distillery has also added a premium Vodka and Ready-To-Drink Cocktails to its portfolio. The Company is publicly traded on the OTC Markets in the United States (Ticker: MMNT). For more information visit www.vbeverages.com

Safe Harbor Statement

This release contains certain "forward-looking statements" relating to the business of the Company. All statements, other than statements of historical fact included herein are "forward-looking statements", including statements regarding: the continued growth of the beverages segment and the ability of the Company to continue its expansion into that segment; the ability of the Company to attract customers and partners and generate revenues; the ability of the Company to successfully execute its business plan; the business strategy, plans, and objectives of the Company; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions and involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume any duty to update these forward-looking statements.

*Marketline, Global Spirits Report, August 2017

 

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Financials (USD)
Sales 2019 0,16 M - -
Net income 2019 -0,16 M - -
Net Debt 2019 0,11 M - -
P/E ratio 2019 -135x
Yield 2019 -
Capitalization 3,42 M 3,42 M -
EV / Sales 2018 -
EV / Sales 2019 133x
Nbr of Employees 3
Free-Float 53,9%
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Managers and Directors
NameTitle
Andrew Eddy President, CEO & Executive Director
Max Roberto Derek Chater Chief Operations Officer & Director
Andrew Parry Independent Non-Executive Director
Peter Keen Head-Group Accounting