New York, NY -- (ReleaseWire) -- 09/20/2016 -- Hispanica International Delights of America, Inc. (OTC:HISP), a diversified food and beverage company in the Hispanic and ethnic food industry, recently announced earnings results for the fiscal year ending May 31, 2016.
2016 Fiscal Year Ending results were similar to the results for the previous year. For the current fiscal year 2017, starting June 1st, 2016, the Company is forecasting considerable revenue growth and expansion.
"The Company has reached a major milestone in that we have filed three full audited years as a fully reporting public company. The year that just ended , May 31st, 2016, marked the end of our initial stage, in that our company today is much more robust than when we first started and certainly more so than just a few months ago. Since the end of the last fiscal year we have acquired an additional company, created marketing and distribution efficiencies, and increased sales to the majority of our customers," stated Chairman and CEO Fernando Oswaldo Leonzo.
"We anticipate significant sales growth during fiscal year '17, and look forward to releasing our first quarter earnings in October where the full impact of our recent transformation will be recognized. There are many opportunities for Hispanica International as we continue to take advantage of as many strategic and synergistic alliances in the Hispanic and other ethnic food categories of our industry. Our next quarter's results should allow investors better insight into the progress we are making, as well as to see where we will take the company on the next phase of our strategy to be dominant in this industry."
Below are the additional accomplishments of the Company during fiscal 2016 and the beginning of fiscal 2017:
- Completed the Company's first acquisition, of Energy Source Distributors, Inc.
- Added a new board member, Dr. Bassam Damaj (see press release 7/14/16)
- Increased the Company's direct and indirect market presence to over 2,000 retail locations
- Signed on with new brands that will be announced in the coming weeks and months
- Repaid an outstanding note to one of its note holders
- Secured and obtained over $1 Million in financing with minimal dilution to existing shareholders
Mr. Oswaldo Leonzo continued, "Our strategy for fiscal 2017 is to grow our existing operations, expand our proprietary portfolio of products, and to move forward with our next strategic acquisition that will continue to expand our top line revenue growth. This growth will give the Company a positive cash flow operational platform. We are currently in the final stages of accomplishing our next acquisition and, as we have already demonstrated this past July, we have a board and management team that understands what it takes to position the Company to execute on its business model. In the coming weeks and months the Company will be announcing when these achievements and major milestones are met."
"We ask our shareholders to please feel free to contact the Company through our corporate media representatives, with any questions, comments, or inquiries. We are starting to see a level of interest not seen since we became a public company. We would like to thank our shareholders for their interest in the growth of Hispanica and we can certainly say that we would have not gotten here without their support."
"Management believes that the Company is now well underway to start achieving accelerated revenue growth with margin expansion. As the Company completes its first quarter of consolidating after our first transaction, management is confident that the integration will be reflected in the next filing. This is an exciting time for our company and we eagerly anticipate the completion of our next transactions in the coming weeks and months."
For more information, please visit http://www.sec.gov to view our corporate filings.
About Hispanica International Delights of America, Inc.
Hispanic International Delights of America, Inc. (HISP) is a public company, founded in 2013. HISP is engaged in the distribution of proprietary, licensed and third party Hispanic and Ethnic food and beverages throughout the United States. HISP has already begun to distribute fruit juices, nectars, and milk based products and will begin to distribute teas, carbonated drinks, dry goods, preserves, frozen foods and bakery products. The brands distributed are under a proprietary basis (through distribution agreements and/or exclusive licensing arrangements). These brands emulate the flavors, tastes, and traditions, which have been known for generations among the Hispanic and other ethnic groups, and are now becoming part of the American mainstream diet. HISP is also committed in building long-term relationships with its consumers by offering superior, high quality products at the most competitive prices.
HISP is headquartered in New York State with distribution operations under way in the New York City Tri-State Region, the Washington, D.C. Metro Area, the Houston Metropolitan Area, and in Los Angeles and the Northern California Region.
For more information on Hispanica International Delights of America, Inc. please visit http://www.hispanicadelights.com/
SAFE HARBOR ACT
Forward-Looking Statements: This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Hispanica International Delights of America, Inc. its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Hispanica International Delights of America, Inc.'s ability to control, and actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Hispanica International Delights of America, Inc.'s filings with the Securities and Exchange Commission.
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