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Starfleet Innotech Announces Strong Financial Results for the Third Quarter 2022

Press Release
Release date:
November 17, 2022

New York, New York--(Newsfile Corp. - November 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, a year-on-year increase of 188%, up from $2.6 million reported in the third quarter of 2021.
  • Gross profit of $4.42 million, a year-on-year increase of 193%, up from $1.51 million.
  • Net operating income of $1.73 million, a year-on-year increase of 270%, up from $467,015.
  • Net income before tax of $1.92 million, a year-on-year increase of 226%, up from $588,842.

Starfleet's efforts towards increasing operational efficiencies and striking new global opportunities across markets shows 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, with no convertible notes.

Third Quarter Business Highlights

  • On the 5th of August, the company successfully reduced its outstanding shares by converting the key officers and partners' common shares to the new class of preferred shares (Series B). The first batch amounting to 268,570,000 common shares were converted.
  • In August, FJ Prime Philippines completed its detailed market research and feasibility study (Phase-1 and 2) in the Philippines for Epiphany Café's potential market entry in the Philippines. Phase-3 has commenced which will outline the market entry strategy, operational requirements, regulation and legal requirements, and marketing campaign strategy.
  • On the 20th of August, the company signed a Letter of Intent (LOI) with Gravitas Software & Service Solutions Inc., an IT/IS service provider based in the Philippines. Starfleet has conducted its due diligence process to explore potential acquisition of Gravitas.
  • On the 24th of August, the company signed a Letter of Intent (LOI) with CyberQ Group, a Cyber Security company based in the UK and with presence in the Philippines and the United States. Starfleet has conducted its due diligence process to explore potential investment into CyberQ group with a plan of acquisition in the future.
  • On the 1st of September, Starfleet's 100% owned subsidiary, Epiphany Café, engaged Franchise Genesis, Inc., a North Carolina Corporation who is experienced in the formation, development, operation, marketing and sales of franchise system in the United States.
  • On the 12th of September, the company engaged with Roda & Chalfant, LLC, franchise lawyers based in Cincinnati, OH, who will assist Epiphany in the preparation of an FTC and state compliant franchise disclosure document and other relevant franchise regulatory documents.
  • On the 23rd and 26th of September 2022, the company signed the Heads of Agreement and paid reservation fees to secure two six-acre properties in Melbourne Australia. The company is currently completing its due diligence process for this project including structuring of non-dilutive debt financing for the project development.

Subsidiaries recognized for business excellence

Starfleet's community was also recognized for its strong performance this past quarter with a number of prestigious accolades from national awards bodies.

Global F&B franchise business Epiphany Cafe was awarded last week the Franchise System Excellence Award in Sustainability by the Franchise Association of New Zealand (FANZ). This is the latest in a series of accolades that Epiphany Cafe has garnered over the years for operational excellence, product innovation, and community impact. As the flagship F&B business of global investments holding company Starfleet Innotech, Epiphany Cafe represents the innovative, tech-enabled strategies Starfleet employs to scale its companies across emerging and developed markets.

Through Starfleet Innotech, Epiphany Cafe has managed to scale a lean franchising model, built using their Smart Freeze Technology. This proprietary flour premix allows their products to be frozen for up to three months while still maintaining fresh-like quality upon thawing. This not only minimizes end-of-day wastage at franchise locations, but also streamlines the franchise system's logistical needs and corresponding emissions. Jeths Lacson, Starfleet Innotech CEO 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 the primary hurdles for growing F&B franchises," he said. "During the pandemic, we saw an opportunity to restructure our business model to suit the new behaviors and needs of our loyal customers. Through thorough market research, we've managed to build flexible franchising and licensing models that champion sustainability while also meeting the capital needs of our franchisees. Through these models, we've managed to bring on 83 new locations across New Zealand-all buoyed by our Smart Freeze technology, driving up profits while keeping environmental impact at a minimum."

In addition to being named a national leader in Franchise System Excellence, Epiphany Cafe was also among the finalists in the Franchisee of the Year category, with FANZ honoring their Chartwell Mall location among New Zealand's most successful small businesses.

Similarly, Starfleet Innotech's Chief Financial Officer Michael Venezuela received his own award over the past weekend, being named the Entrepreneur of the Year by the Australian Council of Multicultural Entrepreneurs. As the CEO of MLV Accounting, a Starfleet Innotech subsidiary supported by the global investments holding company, Venezuela managed to grow his client base 30% this year. MLV Accounting is now relocating to its new larger offices in Melbourne, Australia to better serve this growing client base.

Earnings Call

Starfleet Innotech will hold its Q3 2022 earnings call at market close next Monday, November 21, 2022.


For media enquiries, please contact:

Craymond Yeong, PR & Marketing Specialist

Starfleet Innotech, Inc.

Phone: (+64) 21 0833 2966

Email: info@sfio.co.nz

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 innovation through disruptive collaborations across its three key industries: Food and Beverage (F&B), Real Estate, and Technology. With a strong presence across New Zealand, Australia, Malaysia, the United Arab Emirates, the United States, and the Philippines, SFIO makes strategic investments in high-growth businesses, building synergies across its diverse portfolio to provide 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 futures of its core industries.


The statements contained herein may contain certain forward-looking statements relating to Starfleet Innotech, Inc. "Starfleet" that are based on the beliefs of Starfleet as well as assumptions made by and information currently available to Starfleet's management. These forward-looking statements are, by their nature, subject to significant risks and uncertainties. These forward-looking statements include, without limitation, statements relating to Starfleet's business prospects, future developments, trends and conditions in the industry and geographical markets in which Starfleet operates, its strategies, plans, objectives and goals, its ability to control costs, statements relating to prices, volumes, operations, margins, capital expenditures, overall market trends, risk management and exchange rates.

When used herein, the words "anticipate", "believe", "could", "estimate", "expect", "going forward", "intend", "may", "ought to", "plan", "project", "seek", "should", "will", "would" and similar expressions, as they relate to Starfleet or Starfleet's management, are intended to identify forward-looking statements. These forward-looking statements reflect the Starfleet's views at the time such statement were made with respect to future events and are not a guarantee of future performance or developments. You are strongly cautioned that reliance on any forward-looking statements involves known and unknown risks and uncertainties. Actual results and events may differ materially from information contained in the forward-looking statements as a result of a number of factors, including any changes in the laws, rules and regulations relating to any aspects of Starfleet's business operations, general economic, market and business conditions, including capital market developments, changes or volatility in interest rates, foreign exchange rates, equity prices or other rates or prices, the actions and developments of the Starfleet's competitors and the effects of competition in the food manufacturer and service sector , technology applications and components, and real estate development. Sales and property management on the demand for, and price of, Starfleet's products and services, various business opportunities that Starfleet may or may not pursue, changes in population growth and other demographic trends, including mortality, pandemics, morbidity and longevity rates, persistency levels, 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 risk management practices, its ability to properly price its products and services, including property development capital expenditures and establish reserves for future policy benefits and claims, seasonal fluctuations and factors beyond the Starfleet's control. Subject to the requirements of the Listing Rules, Starfleet does not intend to update or otherwise revise such forward-looking statements, whether as a result of new information, future events or otherwise. As a result of these and other risks, uncertainties and assumptions, forward-looking events and circumstances discussed herein might not occur in the way Starfleet expects, or at all. Accordingly, you should not place reliance on any forward-looking information or statements. All forward-looking statements herein are qualified by reference to the cautionary statements set forth in this section.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/144274

Credits to: Yahoo! Finance

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