Here To Serve Holding Corp. Reports Annual Net Income of $3.2 Million

Highlights:

  • Net income increased by 858%
  • Revenues increased by 139%
  • The Company's subsidiary, Fortune Nickel and Gold Inc, engaged a firm for line cutting and IP surveys for its 177 mineral claims and filed its drilling permit for its Gowan project in Ontario, Canada
  • The Company's affiliate KRTL Biotech Inc. has expanded to Asia and Canada.

Rye Brook, New York--(Newsfile Corp. - December 13, 2021) - Here to Serve Holding Corp. (OTC Pink: HTSC) (the "Company") announced net income of $3,215,722, or $0.05 per basic share, for the year ended September 30, 2021, an increase of 858% as compared to net income of $335,587, or $0.01 per basic share, for the year ended September 30, 2020.

Revenues more than doubled to $1,336,294 in fiscal 2021, an increase of 139%, as compared to $559,829 in fiscal 2020.

"We are pleased with our profitable operations, the value of our mineral rights and our investment in a biotech company that has approval in South Korea to study psychedelic-inspired therapies," said Paul Riss, CEO. "We are diligently moving forward with our 100% owned nickel projects, with the vision of feeding the high-growth electric vehicle market. Our neighbor in the Timmins mining camp recently published maps that showed a large conductive anomaly directly pointing to our property We are in the process of examining that anomaly in our property, which is significantly larger."

"We are equally excited for the work being performed by our KRTL affiliate," continued Riss, "which now owns 49% of KRTL Asia Co. Ltd. and KRTL Biotech Canada, Ltd. We are eager to begin trials and we anticipate the next phase after trials is for us to partner with mental health clinics, treatment centers with doctors, mental health physicians and professionals who will become our target market for psilocybin and psychotropic substances legally produced by KRTL."

The Company has uploaded its audited consolidated financial statements to OTC Markets. Please refer to the audited financial statements for additional details of the Company's fiscal 2021 operating results.

About Here to Serve Holding Corp.

Here To Serve Holding Corp. is a holding company with three operating entities. Its subsidiary Fortune Nickel and Gold Inc. owns 177 mining cells in the Timmins mining camp in Ontario, Canada, which is highly prolific to nickel, gold and copper. The nickel is targeted as a battery metal for electric vehicles.

The subsidiary ICF Industries Inc. owns a diversified basket of minority positions in publicly traded equities. It receives these equity positions in exchange for marketing and financial reporting services.

The Transcendence Age Corp. subsidiary works with affiliate KRTL Biotech. A doctor at KRTL Biotech has MFDS approval to study psilocybin in South Korea with its team of doctors, chemists, and researchers. They believe they can work with us to give people new ways to heal.

Please call Investor Relations with any questions at 855-4NICKEL (855-464-2535) extension 1.

Forward-Looking Statements

This news release contains statements and information that, to the extent that they are not historical fact, may constitute "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives, or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as may, would, could, will, likely, except, anticipate, believe, intend, plan, forecast, project, estimate, outlook, or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to, statements with respect to the objectives and business plans of the Company; ability to realize benefits from its recent corporate appointments; ability to retain its key personnel; the intention to grow the Company's business and operations; the competitive conditions of the industries in which the Company operates; and laws and any amendments thereto applicable to the Company. Forward-looking information is based on the assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. The material factors and assumptions used to develop the forward-looking information contained in this news release include, but are not limited to, key personnel and qualified employees continuing their involvement with the Company; and the Company's ability to secure financing on reasonable terms. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, without limitation, risks relating to the future business plans of the Company; risks that the Company will not be able to retain its key personnel; risks that the Company will not be able to secure financing on reasonable terms or at all, as well as all of the other risks as described in the Company's periodic disclosure statements. Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company's management to predict all of such factors and to assess in advance the impact of each such factor on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. The Company does not undertake any obligation to update any forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/107460

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