SANTA MONICA, CA, Jan. 05, 2018 (GLOBE NEWSWIRE) -- Oliveda International, Inc. (OTC Pink: OLVI), a leading international natural cosmetics innovator, today commented on the recent posting of its quarterly report for the period ended September 30, 2017, which shows a 222% quarter-over-quarter increase in income, as compared to the same period in 2016, and a 90% increase in total assets from December 31, 2016 to September 30, 2017. Additional details are available in the filing posted to the OTC Markets website at https://www.otcmarkets.com/stock/OLVI/filings.
The filing also documents the return to treasury of 4 million shares of common stock that were issued as part of a merger agreement between Oliveda International, Inc. and Heritage Media, which resulted in Oliveda trading as a public company. The quarterly report also details the cancellation of all issued and/or authorized shares of both Series B and Series C Preferred Stock.
“Management believes that this quarterly report provides just a glimpse of what Oliveda can achieve as a public company,” commented Chairman and CEO Thomas Lommel “With ongoing and future planned expansion into new markets, as well as the introduction of additional products, we expect significant and continued growth for OLVI.”
With this filing completed, Oliveda will immediately focus on the removal of the “Caveat Emptor” designation on the OTC Markets website, which was assigned after an unknown third party or parties engaged in a promotion for the stock symbol OLVI.
In an Oliveda International press release dated October 4, 2017, Mr. Lommel stated, “neither the company nor any member of its management team initiated or participated in any promotion or awareness program for OLVI stock. Furthermore, neither the company nor any member of its management team authorized any 3rd party to engage in any promotion or awareness program on the company’s behalf.”
Beyond this initial objective, the company intends to become fully reporting, pursue a higher status on the OTC Markets, and ultimately grow into a company that would qualify to graduate to a Nasdaq market. As part of its market positioning efforts, the company expects to retain Securities Counsel in the near term.
Oliveda International’s revenues reflected in the quarterly report were generated from the worldwide operation of the company’s wholly-owned subsidiary, Oliveda Deutschland GmbH, which sells its products through various distribution channels, both online and brick-and-mortar, including its own corporately-owned stores. With over 20 years of manufacturing and distribution of cosmetic and holistic products built around the pure essence of the olive tree and its oils, Oliveda Deutschland GmbH offers a complete line of products that includes face, body, hair, and products for inside-the-body holistic benefits.
Oliveda intends to open more company-owned stores the coming years, with a target of 60 worldwide stores within 5 years. With its current stronghold in Europe, the company intends to reach out into additional North American and Asian markets in the next 12 months.
Additional information on the company’s current activities and future plans are expected to be disclosed in upcoming press release and filings.
Oliveda International Inc.
Oliveda International, Inc. is a leading international natural cosmetic and wearable technology company founded by German real estate investor Thomas Lommel in 2003. In addition to online sales, the company’s Olive Tree Pharmacy store concept currently operates in Berlin, Dusseldorf and Taipei, with a Los Angeles store in the planning stages. Overall, the company believes it is positioned to operate 60 stores around the world within the next 5 years. For more information on OLIVEDA International, please visit http://www.oliveda.com, http://www.olivetreepeople.com, and http://www.otp.eu.
Forward-Looking Statements
This press release may contain statements, estimates or projections that constitute "forward-looking statements" pursuant to the safe harbor provisions of the U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will" and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties, which may be found in the Company’s filings with OTC Markets Group Inc., that could cause actual results to differ materially from the Company's historical experience and present expectations or projections. Investors should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Company expressly disclaims any obligation or intention to publicly update or revise any forward-looking statements unless otherwise required by law.