TOM'S RIVER, N.J., May 26, 2020 (GLOBE NEWSWIRE) -- Quad M Solutions Inc. (OTC symbol – MMMM) reported record revenues approximately $5,100,000 for its second fiscal quarter ended in March 31, 2020. The Company only commenced actual operations of its staffing and benefits services business for small and mid-size employers and the “gig” economy in November of 2019. As a result, the Company believes that these results for Q2 2020 demonstrates its management’s belief that the Company is rapidly achieving its business plan of being an innovative staffing and benefits services company that offers employees comprehensive major medical insurance benefits along with a full complement of HR support at competitive costs, especially compared with more well established old line staffing companies.
On April 6, 2020, the Company announced an important update on its progress of technical connectivity and details about commencing the onboarding of employees from its joint venture partner, Infiniti HR Inc., a leading PEO, providing payroll, human resource consulting, risk management and other HR services to businesses nationwide.
Despite the COVID-19 pandemic and national shut-down of businesses that commenced in the U.S. in March 2020, the Company is continuing to make substantial progress in meeting its anticipated level of revenues for its fiscal year ending September 30, 2020. We are confident that as we enter our fourth fiscal quarter commencing July 1, 2020 and especially during the first quarter ending December 31, 2020, the Company should be generating staffing revenue for at least 5,000 employees and depending on certain capital funding plans the total number of employees receiving the Company’s comprehensive major medical insurance benefits together with its full HR support at competitive costs, could increase to more than 20,000 employees.
The Company believes that it will meet its anticipated growth schedule and achieve the estimated level of 5000 employees receiving benefits, which will result in the Company generating staffing revenue in excess of $5 million per month with an estimated monthly operating profit of approximately $1 million. Mr. Pat Dileo, our CEO, commented “We are extremely proud of the rapid growth of our business and the success of our business model since mid-November 2019, especially taking into consideration the pronouncements of the global pandemic in March 2020. Our relatively small management team, which is expected to increase during the remainder of 2020, has been undaunting and we look forward to onboarding an increasing number of employees that shall need and use our major medical insurance benefits and HR support products and services during these difficult times. Notwithstanding some potential business slowdowns that may be experienced by our JV business partners, Infiniti and others are projecting business growth coming back as we open up the national economy later this summer.”
The revised 10-Q with a full “Explanatory Note” regarding Covid 19 and separate revised “Risk Factor” was filed May 22, 2020.
https://www.sec.gov/Archives/edgar/data/66600/000147793220003022/mmmm_10qa.htm
[Link to Form 10-Q/A above]
Information on Forward Looking Statements
The statements contained herein that are not historical facts are forward-looking statements within the meaning of the federal securities laws (Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934). You can identify such forward-looking statements by the words "expects," "intends," "plans," "projects," "believes," "estimates," "likely," "possibly," "probably," "goal," "opportunity," "objective," "target," "assume," "outlook," "guidance," "predicts," "appears," "indicator" and similar expressions. Forward-looking statements involve a number of risks and uncertainties. In the normal course of business, Quad M Solutions, in an effort to help keep our stockholders and the public informed about our operations, may from time to time issue such forward-looking statements, either orally or in writing. Generally, these statements relate to business plans or strategies, projected or anticipated benefits or other consequences of such plans or strategies, or projections involving anticipated revenues, earnings, profits, pricing, operating expenses or other aspects of operating results. We base the forward-looking statements on our expectations, estimates, and projections at the time such statements are made. These statements are not guarantees of future performance and involve risks and uncertainties that we cannot predict. In addition, we have based many of these forward-looking statements on assumptions about future events that may prove to be inaccurate. The actual results of the future events described in such forward-looking statements could differ materially from those stated in such forward-looking statements.
For Further Information:
Pat Dileo
CEO, Chairman, Quad M Solutions, Inc.
732-423-5520
844-NuAxess