ISW Holdings Announces Q3 Performance Data, Including 57% Topline Growth, with Telehealth and Cryptocurrency Operations Defining Outlook
Las Vegas, Nevada--(Newsfile Corp. - November 23, 2020) - ISW Holdings, Inc. (OTC: ISWH) ("ISW Holdings" or the "Company"), a global brand management holdings company, is pleased to report performance data for the three months ended September 30, 2020. ISWH, which is on the verge of reaching commercial-stage operations in its cryptocurrency mining equipment division in coming months, posted strong year-over-year and quarter-over-quarter growth powered by continued strong expansion in the Company's Home/Telehealth Care division.
Consolidated revenues for the Three Months ended September 30, 2020 totaled $284,383, representing 57% growth on a year-over-year basis and 14% on a quarter-over-quarter basis.
Consolidated revenues for the Nine Months ended September 30, 2020 totaled $769,976, representing 141% growth on a year-over-year basis.
Gross Profits for the Nine Months ended September 30, 2020 totaled $182,684, representing 82% growth on a year-over-year basis.
Management notes that the Company provided services for another $90,000 in revenues before September 30, 2020, which was billed just after quarter end, suggesting that the true growth in business during the quarter was significantly greater than the official topline numbers listed above.
Cash and cash equivalent securities increased 27% on a year-over-year basis for the Three Months ended September 30, 2020.
The Company has also completed assembly of its industry-leading self-contained cryptocurrency mining pod, designed in partnership with Bit5ive LLC ("Bit5ive"). The pod completion will have a significant impact for ISWH operational performance over coming quarters.
"In terms of overall growth, we provided over $370k in services during the quarter, which represents an annual run rate of approximately $1.5 million on the topline," commented Alonzo Pierce, President and Chairman of ISW Holdings. "The company continues to benefit from the aggressive growth rate in our Telehealth/home healthcare division. We are extremely excited about the Proceso crypto mining division, given that our investment in the data center/mining pod was made prior to powerful gains in the price of Bitcoin. Our initial pod is already assembled, and we look forward to reaping the rewards over the near and long term."
Pierce also noted that the Company's Home/Telehealth Care division continues to see robust growth, with total operational gains of well over 105% on a year-over-year basis, when taking into account services rendered during the quarter.
Additionally, as previously announced, the Company's new Proceso Pod5ive datacenter pod, which is capable of driving Megawatt-level cryptocurrency computational mining power, has been fully assembled and will be shipped to the Pennsylvania-based 100 MW renewable energy Bit5ive cryptocurrency mining project base.
Given the rapid appreciation in the price of Bitcoin over the past two months, the potential for exponential profitability of ISWH's cryptocurrency mining and mining equipment supply operations has grown appreciably, and management looks forward to providing details on the path ahead in coming communications.
About ISW Holdings
ISW Holdings, Inc. (OTC: ISWH), based in Nevada, is a diversified portfolio company comprised of essential business lines that serve consumer product demands. Our expertise lies in strategic brand development, early growth facilitation, as well as brand identity through our proprietary procurement process. Together, with our partners, we seek to provide a structure that meets large scalability demands, as well as anticipated marketplace needs. We are able to meet these needs through a variety of strategic innovative processes. ISWH is creating and managing brands across a spectrum of disruptive industries. It maneuvers its proprietary companies through critical stages of market development, which includes conceptualization, go-to-market strategies, engineering, product integration, and distribution efficiency. The company has also partnered with a well-known software development and consulting company.
Forward Looking Statements
This press release may contain forward-looking statements that involve risks and uncertainties. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology including "could", "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential" and the negative of these terms or other comparable terminology. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested in this report. Except as required by applicable law, we do not intend to update any of the forward-looking statements so as to conform these statements to actual results. Investors should refer to the risks disclosed in the Company's reports filed from time to time with OTC Markets (www.otcmarkets.com).
For more information, visit www.iswholdings.com
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