New York, New York–(Newsfile Corp. – Nov. 15, 2022) – Starfleet Innotech (OTC: SFIO), a global investment holding company, today announced financial results for the third quarter ended September 30, 2022 .

Third quarter financial results

  • Revenue of $7.5 million, an increase of 188% year over year, compared to $2.6 million in the third quarter of 2021.

  • Gross profit of $4.42 million, a year-over-year increase of 193%, from $1.51 million.

  • Net operating income of $1.73 million, a 270% year-over-year increase from $467,015.

  • Net income before tax of $1.92 million, up 226% year over year from $588,842.

Starfleet’s efforts to increase operational efficiency and seize new global opportunities in all markets are reflected in its massive improvements across the board. In the third quarter of 2022, Starfleet also reported total assets of $25.63 million and total liabilities of $7.58 million, excluding convertible notes.

Third Quarter Business Highlights

  • On August 5, the company successfully reduced its outstanding shares by converting the common shares of key executives and partners to the new class of preferred stock (Series B). The first batch of 268,570,000 common shares was converted.

  • In August, FJ Prime Philippines completed its detailed market research and feasibility study (phases 1 and 2) in the Philippines for Epiphany Café’s potential entry into the Philippine market. Phase 3 has begun and will outline the market entry strategy, operational requirements, regulatory and legal requirements, and marketing campaign strategy.

  • On August 20, the company signed a Letter of Intent (LOI) with Gravitas Software & Service Solutions Inc., a Philippines-based IT/IS service provider. Starfleet conducted its due diligence process to explore the potential acquisition of Gravitas.

  • On August 24, the company signed a Letter of Intent (LOI) with CyberQ Group, a UK-based cybersecurity company with operations in the Philippines and the United States. Starfleet conducted its due diligence process to explore a potential investment in CyberQ Group with an acquisition plan in the future.

  • On September 1, Starfleet’s wholly-owned subsidiary, Epiphany Café, hired Franchise Genesis, Inc., a North Carolina company experienced in the formation, development, operation, marketing and sale of franchise in the United States.

  • On September 12, the company engaged with Roda & Chalfant, LLC, franchise attorneys based in Cincinnati, OH, who will assist Epiphany in the preparation of an FTC-compliant franchise disclosure document. statement and other relevant franchise regulatory documents.

  • On September 23 and 26, 2022, the company signed the Memorandum of Understanding and paid the Reservation Fee to secure two six-acre properties in Melbourne, Australia. The company is currently completing its due diligence process for this project, including structuring non-dilutive debt financing for the development of the project.

Subsidiaries recognized for their commercial excellence

The Starfleet community was also recognized for its strong performance over the past quarter with a number of prestigious accolades from national award bodies.

Global F&B franchise company Epiphany Cafe received the Franchise System Excellence Award in Sustainability from the Franchise Association of New Zealand (FANZ) last week. This is the latest in a series of accolades Epiphany Cafe has won over the years for operational excellence, product innovation and community impact. As the flagship F&B business of global investment holding company Starfleet Innotech, Epiphany Cafe represents the innovative, technology-based strategies Starfleet uses to scale its businesses in emerging and developed markets.

Thanks to Starfleet Innotech, Epiphany Cafe successfully scaled a lean franchise model, built using its Smart Freeze technology. This proprietary flour premix allows their products to be frozen for up to three months while maintaining a fresh quality when thawed. This not only minimizes end-of-day waste at franchise stores, but also streamlines the franchise system’s logistical needs and corresponding emissions. Jeths Lacson, CEO of Starfleet Innotech and founder of Epiphany Cafe, describes this as a triple win for franchisees, their customers and the environment.

“The model we’ve built around Smart Freeze is a game-changer in New Zealand, where logistics and food waste are major barriers to growing F&B franchises,” he said. “During the pandemic, we saw an opportunity to restructure our business model to adapt it to the new behaviors and needs of our loyal customers. Through extensive market research, we were able to create flexible franchise and licensing models that champion sustainability while respecting the capital needs of our franchisees.Through these models, we have successfully opened 83 new locations across New Zealand, all supported by our Smart Freeze technology, increasing profits while minimizing the environmental impact.

As well as being named the National Leader in Franchise System Excellence, Epiphany Cafe was also a finalist in the Franchisee of the Year category, with FANZ honoring its Chartwell Mall location as one of New Zealand’s Most Successful Small Businesses. .

Similarly, Starfleet Innotech’s chief financial officer, Michael Venezuela, received his own award last weekend, when he was named entrepreneur of the year by the Australian Council of Multicultural Entrepreneurs. As CEO of MLV Accounting, a subsidiary of Starfleet Innotech backed by the global investment holding company, Venezuela has managed to grow its customer base by 30% this year. MLV Accounting is now moving to its new, larger offices in Melbourne, Australia to better serve this growing customer base.

Call for revenue

Starfleet Innotech will hold its third quarter 2022 earnings call at market close on Monday, November 21, 2022.

-ENDS-

For media inquiries, please contact:
Craymond Yeong, PR and Marketing Specialist
Starfleet Innotech, Inc.
Telephone: (+64) 21 0833 2966
Email: [email protected]
Twitter: @SFIO_Inc
Facebook: SFIO
YouTube: SFIO (Starfleet Innotech)

About Starfleet Innotech, Inc.

Starfleet Innotech, Inc. (OTC: SFIO) is a global investment holding company focused on innovating through disruptive collaborations in its three key industries: food and beverage (F&B), real estate and technology. With a strong presence in New Zealand, Australia, Malaysia, the United Arab Emirates, the United States and the Philippines, SFIO makes strategic investments in high-growth companies, creating synergies across its diverse portfolio to deliver maximum shareholder value. Guided by tradition, driven by innovation, and enabled by collaboration, SFIO is on a hyper-growth path to build a thriving global business ecosystem, shaping the future of its core industries.

FORWARD-LOOKING STATEMENTS

The statements contained herein may contain certain forward-looking statements relating to Starfleet Innotech, Inc. “Starfleet” that are based on Starfleet’s beliefs and assumptions made by and information currently available to Starfleet management. These forward-looking statements are, by their nature, subject to significant risks and uncertainties. These forward-looking statements include, but are not limited to, statements relating to Starfleet’s business prospects, future developments, trends and conditions in the industry and geographic markets in which Starfleet operates, its strategies, plans, objectives and goals, ability to control costs, statements regarding prices, volumes, operations, margins, capital expenditures, general market trends, risk management and exchange rates.

When used herein, the words “anticipate”, “believe”, “could”, “estimate”, “expect”, “go ahead”, “intend”, “may “, “should”, “plan”, “project”, “seek”, “should”, “fly”, “do” and similar expressions, insofar as they relate to Starfleet or the direction of Starfleet, are intended to identify forward-looking statements. These forward-looking statements reflect the opinions of Starfleet at the time the statements were made regarding future events and are not guarantees of future performance or developments. You are strongly cautioned that reliance on forward-looking statements involves known and unknown risks and uncertainties. Actual results and events may differ materially from the information contained in the forward-looking statements due to a number of factors, including any changes in laws, rules and regulations relating to any aspect of Starfleet’s business operations, the general economic , market and business conditions, including changes in financial markets, changes or volatility in interest rates, foreign exchange rates, stock prices or other rates or prices, stocks and developments of Starfleet’s competitors and the effects of competition in manufacturing and food services, technology applications and components, and real estate development. Sales and property management on the demand for and price of Starfleet products and services, various business opportunities that Starfleet may or may not pursue, changes in population growth and other demographic trends, including death rates, of pandemics, morbidity and longevity, levels of persistence, Starfleet’s ability to identify, measure, monitor and control risks in Starfleet’s business, including its ability to manage and adapt its overall risk profile and its risk management practices, its ability to properly price its products and services, including capital expenditures for property development and to build reserves for future policy benefits and claims, seasonal fluctuations and factors beyond Starfleet’s control. Subject to the requirements of the Listing Rules, Starfleet does not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise. Due to these and other risks, uncertainties and assumptions, the forward-looking events and circumstances discussed herein may not occur in the manner Starfleet expects, if at all. Accordingly, you should not rely on any forward-looking information or statements. All forward-looking statements contained herein are qualified by reference to the cautionary statements set forth in this section.

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