OTC: ILUS, ILUS International (Ilustrato Pictures International Inc) Provides an Update on Progress and Second Quarter Plans
NEW YORK, NY, April 04, 2022 (GLOBE NEWSWIRE) -- via ILUS International Inc (OTC: ILUS) is a Mergers and Acquisitions company focused on acquiring and developing public safety technology-based companies across the globe. Following submission of its 2021 annual filings and Share Structure update by the required date, the company now wishes to summarize current progress and outline some expected highlights for the second quarter of 2022.
ILUS previously announced that its audit by AJSH & Co LLP is underway. The company expects its audit and subsequent name change to Ilus International Inc. to be completed during the summer of 2022, following which it plans to up list to the OTCQB. ILUS confirmed that these plans are running concurrently to plans for its subsidiaries such as Emergency Response Technologies, which are also in progress.
Having completed three acquisitions during the first quarter of 2022, ILUS also made significant sales progress within its group. Overall performance was strong, and the company achieved its first quarter targets, laying a solid foundation to exceed 2022 projections. ILUS will submit its filings for the first quarter when required on the 15thof May 2022. During the first quarter, ILUS completed the acquisitions of Vira Drones, KurveXR and Georgia Fire and Rescue Supply.
ILUS announced part of its European Phase 1 deal in Čačak, Serbia on the 31st of March 2022. The company plans to announce substantially more information once it takes occupation of the site. This information will include the deal structure for ILUS EV Technologies in Serbia and its enormous benefits to ILUS. The company will also outline more detailed growth plans for the site as well as release photos and videos of the facilities.
Following the Serbian elections which were held yesterday, with incumbent President Vucic remaining in power, ILUS expects its larger European Phase 2 deal to complete during the second quarter of 2022. With the strong support of the Serbian Government, ILUS is confident that the deal should progress smoothly following the elections. The Phase 2 deal is expected to include several phased emergency response and defense contracts.
During the first quarter of 2022, ILUS completed further acquisition negotiations, with some Letters of Intent signed. The primary focus for the second quarter remains on the progress of ILUS’ Emergency Response Technologies (ERT) subsidiary. In addition to previously discussed acquisition plans, during the second quarter, ILUS is planning to complete the acquisition of a significant wildfire company with sales in 70 countries, including the US. The company is also planning to complete the acquisition of a well-established and rapidly expanding US based emergency response communications company. ILUS is also continuing with its due diligence on a potential acquisition with over $100m in annual revenue.
In terms of progress with current ILUS acquisitions, according to the group’s sales forecasts for the second quarter, the outlook is very positive. Although there are still supply backlogs due to ongoing shipping and related logistics issues, travel has finally opened up, making it easier for demonstrations to take place and projects that have been stuck in the sales pipeline to progress. The teams at BCD Fire and KurveXR are currently negotiating large orders which are expected in the second quarter. In addition to this, FireBug, The Vehicle Converters and BCD Fire are currently discussing orders for large projects linked to the $500 billion NEOM smart city project in Saudi Arabia. In the US, Bull Head Products is expecting to receive two significant new manufacturing contracts during the second quarter, following successful proof of concept builds which are currently underway.
During the month of April 2022, Georgia Fire and Rescue supply will be moving into its new 9,000 square foot facility. This move will double the area of its current facility, providing much needed stockholding capability to fulfil the current increased demand and to hold stock of additional product lines, including those from FireBug and Bull Head Products. Bull Head Products is having a new 15,000 square foot facility built, with the building expected to be completed in six to seven months’ time. This would be in line with scale up plans for new manufacturing contracts that are in negotiation.
From the 28th to 30th of April 2022, ILUS will be exhibiting technology from Georgia Fire and Rescue Supply, FireBug, KurveXR, 911Inform and a new range of wildland firefighting equipment at the FDIC Conference in Indianapolis. From the 20th to 25th of June 2022, the company will then exhibit more technology, including the M500 rescue drone from Vira Drones at Interschutz in Hannover, Germany.
During its January 2022 Annual Shareholder’s Meeting, ILUS announced plans to create a Defense subsidiary. Using its existing capability to manufacture products for the defense sector, the company has already been manufacturing firefighting equipment and vehicles for the defense sector, however, this will soon be supplemented by defense acquisitions. ILUS is currently working on a significant defense acquisition, with discussions progressing well thus far. The targeted acquisition is strategically aligned with revolutionary technology and has a large pipeline of global sales.
ILUS confirms its plans to offer Shareholders the opportunity to lock shares up in a preference category. Within weeks, the company will release information on the details and incentives for Shareholders to lock up their shares in a preference category for a defined period. Following release of the information during the month of April 2022, interested Shareholders will be offered the opportunity to register their interest for the Share lock up, which is expected to commence during the second quarter of 2022. ILUS is currently working through the incentives and roll out plan with its attorneys, factoring in the considerations and incentives related to ERT and other ILUS subsidiaries, given the immense progress that the company is making in this regard. ILUS plans to announce an attractive incentive benefit to Shareholders and the subsequent share lock up is expected to cause a reduction in outstanding common shares.
ILUS Managing Director, John-Paul Backwell, commented: “As stated in the most recent Shareholder Q&A released this past weekend, we have accomplished a great deal in only 15 months, although we do believe that the next 6 months will be even more exciting for ILUS and its Shareholders. With everything from completion of the European deals, tremendous acquisitions, contract awards, ERT plans coming to fruition and so much more, it is crunch time for the ILUS team and we have never been more excited.”
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Certain information set forth in this press release contains "forward-looking information", including "future-oriented financial information" and "financial outlook", under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the Company's business, projects, and joint ventures; (iv) execution of the Company's vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company's projects; (vi) completion of the Company's projects that are currently underway, in development or otherwise under consideration; (vi) renewal of the Company's current customer, supplier and other material agreements; and (vii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management's beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements. Although forward-looking statements contained in this presentation are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. The Securities and Exchange Commission ("SEC") has provided guidance to issuers regarding the use of social media to disclose material non-public information. In this regard, investors and others should note that we announce material financial information via official Press Releases, in addition to SEC filings, press releases, Questions & Answers sessions, public conference calls and webcastsalso may take time from time to time. We use these channels as well as social media to communicate with the public about our company, our services, and other issues. It is possible that the information we post on social media could be deemed to be material information. Therefore, considering the SEC's guidance, we encourage investors, the media, and others interested in our company to review the information we post on the following social &media channels:
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