HAMILTON, New Zealand, Nov. 18, 2021 (GLOBE NEWSWIRE) -- Smokefree Innotec, Inc. (OTC:SFIO), a leading asset management company and innovation group, is pleased to share news of its recent strategic acquisitions in line with its five-year roadmap of global expansion in the fields of franchising, food manufacturing and distribution, coffee, property development, and technology and software development.
Jeths Lacson, CEO / Chairman, shared the following letter regarding the company's Q3 report:
"Dear shareholders and valued business partners,
In the last letter I addressed to you, I outlined a number of projects we had in development for Smokefree Innotec, Inc (SFIO). I am thrilled to share that we have not only accomplished many of the key milestones we had set for the Company since then, but have forged new partnerships to further concretize our ambitious roadmap for SFIO.
As I mentioned before, our primary focus entering 2021 was to build a strategy towards not only surviving, but thriving through the pandemic. To that end, we entered a period of restructuring that saw the Company not only bringing greater value to its community of shareholders, but also truly championing our mission of building global leaders across our core industries.
Last August 21 marked the first of a series of lucrative acquisitions for the SFIO group, with Agrokings, Inc. and its subsidiaries successfully joining our community. As such, our Q3 report only reflects the period between August 21 to September 30, 2021. Similarly, the report reflects only the financials of SFIO-owned businesses, and not the financials of its subsidiaries' franchisees. With that in mind, I am confident you will find that the report sets a strong baseline for future growth, buoyed by our plans for hyper-expansion.
New Acquisitions: Through its acquisition of Agrokings, Inc, SFIO now holds full ownership over Epiphany Café, an award-winning franchise recently honored among Silicon Review's 50 Most Trustworthy Companies in 2021. This includes the franchise business' three company-owned sites. Also joining the community through this recent acquisition are Gorgeous Coffee, Ardent Bakers, A+ Electrical, AG Architects, and Accord Investment Group (AIG). Through Australia-based AIG, SFIO now also holds ownership in Big Lou's Donuts and accounting firm MLV Group. In Q3, we also signed memorandums of agreement to acquire convenience store chain MetroMart and Classic Bake House Factory, along with its franchise business and company-owned site.
Balance Sheet: Our balance sheet highlights many of the strengths SFIO boasts as an asset management company. Minimal liabilities and a strong asset base make us well-positioned to continue on our path to exponential growth. The Company intends to utilize shareholder investments to fuel expansion efforts and rapidly grow our asset base in the months to come. We have already closed deals for joint ventures with landowners to develop innovative real estate concepts across prime locations in and beyond the Philippines and New Zealand. Leaning into the breadth of industries represented by our investments, our future strategy will also revolve around identifying opportunities to synergize operations across our subsidiaries, with the goal of collaborating towards greater efficiency and shared profitability. Similarly, we will be identifying opportunities to acquire and develop proprietary technologies to maximize those synergies. To do this, we will be leveraging our in-house expertise in frontier technologies such as blockchain and cloud architecture. As such, we expect the value of our intangible assets (e.g. trademarks and intellectual property) to grow in turn.
Revenue: In less than a month, the Company's recent acquisition of Agrokings, Inc. generated $2,721,628 in new revenue. Property development, in particular, proves to be a very lucrative field for SFIO, accounting for only 5% of total operating expenses, while contributing 18% of total revenue for the Company. Though margins are slim, franchising proves to be a main value driver. With development plans underway for a suite of proprietary technology platforms to streamline operations across our franchising activities, we expect this to be an even greater growth vehicle for the Company moving forward.
In light of these exciting developments and following the successful removal of SFIO's Caveat Emptor designation, garnering our OTC Pink status, we have already filed the necessary requirements for the change in the Company's shell status. This is to better reflect the vast array of negotiations and business activities the Company entered into these last few months.
As an additional follow-up to my last letter to you all, I am happy to share that we remain committed to our shareholders and are now in advanced consultations with our partners on the creation of a new class of preferred shares to be held by Company officers and key partners. More concrete updates on this are soon to come.
To guide us through this period of hyper-growth, and in the years to come, we've tapped leading voices and practitioners in the fields of leadership development, communication, and finance to join SFIO's advisory board. Jonathan Petalver and Roger Oriel, both newly appointed to our advisory board, are now hard at work developing "The Global Academy", SFIO's six-month roadshow program across the US. As a training hub for entrepreneurship, "The Global Academy" is a strategic learning provider of masterclasses and workshops for business partners, shareholders, and potential investors. Rounding off the appointments to our advisory board is our new Chief Financial Officer, Michael Venezuela, who joins us from recently-acquired accounting firm MLV Group.
With the end of the year fast approaching, our team is still hard at work advancing negotiations on strategic acquisitions, joint ventures, and cross-industry synergies. I believe we have more than accomplished our goal of thriving in 2021. This is only the beginning.
As we continue building synergies across our ever-growing community of thriving businesses, I would once again like to thank you, our shareholders, for making this growth possible. We have a brilliant team, a sound strategy, and — with your continued support — everything we need to forge a clear path towards an exciting future for all of us.
CEO and Chairman of SFIO
Forward-Looking Statements: Certain information disclosed in this letter contains forward-looking information. These information are not guarantees of future performance of SFIO and readers should not place undue reliance on them. Such forward-looking statements necessarily involve known and unknown factors. Although forward-looking statements contained in this letter are based upon what the company believes are reasonable considerations and opportunities, there can be no assurance that these will prove to be achieved, as actual results and future events could differ materially from those anticipated in such statements. SFIO undertakes no obligation to update forward-looking statements if circumstances or the CEO's estimates or opinions should change.
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About Smokefree Innotec, Inc.
Smokefree Innotec, Inc. (OTC:SFIO) is an Asset Management Company, and is a conglomerate of several companies with five strategic business divisions, namely: franchising, food manufacturing and distribution, coffee business, property development, as well as technology and software development – all of which currently have a strong presence in New Zealand and Australia.
SFIO is the new owner and operator of Epiphany Café Franchise Group, Ardent Bakers, Gorgeous Coffee Co., A+ Electrical, AG Architects and Accord Investment Group (AIG) following the successful acquisition of Agrokings, Inc.