CORRECTION: CAVU Resources Announces Record Quarterly Gross Revenue of $1,504,567
CHARLOTTE, N.C., June 11, 2020 (GLOBE NEWSWIRE) -- In a release issued on Thursday, June 11th by CAVU Resources, Inc. (OTC: CAVR), please note that the headline should read "CAVU Resources Announces Record Quarterly Gross Revenue of $1,504,567", not "CAVU Resources Announces Record Quarterly Net Revenue of $1,504,567." The corrected release follows:
CAVU Resources (OTC: CAVR), a Charlotte based real estate development and technology company, today announced company record breaking numbers for both quarterly net revenue and income.
With its acquisition of Sinacori Builders closing on February 12th, 2020, the company achieved its quarterly net revenue and income numbers in just 6 weeks. The company expects significant growth going forward.
Q1 2020 Financial Highlights
- Gross revenue was a record $1,504,567
- Net income was a record $1,059,946
- Positive earnings per share of $0.000816
Q1 Earnings Call
- Audio recording of the call:
Management Commentary
“This is just the start of something special. Our team is focused, prepared and beyond excited about what is yet to come. I want all our shareholders to know, this quarter, these records are for them. I can’t thank them enough for believing in us,” commented Bob Silver, chairman and CEO of CAVU Resources.
Forward-Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, among other thing, statements regarding the offering, the expected gross proceeds, the expected use of proceeds and the expected closing of the offering. Any forward-looking statements contained herein are based on current expectations and are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell its products; the expected benefits and efficacy of the Company's products; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and, the Company's business, research, product development, marketing and distribution plans and strategies.
Company Contact:
Bob Silver
Email: https//cavuresource.com/
