Wayne R
3 years ago
Press Release – June 24, 2021
June 24, 2021
June 24, 2021
Biloxi, Mississippi- (BUSINESS WIRE)– Global Seafood Technologies Inc. (OTC: GSFD), a company that includes subsidiary Killer Bee Bait, one of the largest bait distributors in the nation, today filed their Annual Earnings Report ending March 31, 2021.
Annual Financial Highlights
Revenue for the year ended March 31, 2021 was $4,820,312.
Current assets for the year ended March 31, 2021 was $2,447,147.
Net loss for the year ended March 31, 2021 was $(111,006).
Management Commentary
Brent Gutierrez, President and Chief Executive Officer, said, “I am incredibly proud of our entire Global Seafood Technologies team for delivering results that met our expectations during a difficult year affected by COVID 19. Despite difficult market conditions, we increased our overall market share. If it were not for increased shipping costs on both inbound/outbound shipments, increased product and packaging costs, and the closure of casino buffets as well as some one-time repairs and maintenance costs for our facilities, we would have likely turned a profit.”
Annual Report Guidance (April 2021-March 2022)
Looking forward to the next fiscal year ending March 31, 2022. We are looking forward to improved business conditions. We anticipate increased sales as our market share continues to expand and our retail clients fully open their doors for business again. Current estimates for the coming year are:
Revenue of $5 million to $5.2 million
Positive Earnings per Share
Reduced Operating Margin Expenses
Improved Relations with our Shareholders
About Global Seafood Technologies, Inc.
Global Seafood Technologies, Inc. raises, processes, packages, and distributes seafood. The Company’s products include quick frozen shrimp and saltwater bait products. Global markets its shrimp to seafood chains and grocery outlets in the United States and exports to other countries. The Company sells its bait products to retail stores and marinas throughout the Southeast United States. For more information, please visit our website at http://www.globalseafoodtechnologies.com.
Cautionary Note Regarding Forward-Looking Statements
All statements in this press release, other than those of a historical nature, are forward-looking statements. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Factors that could cause actual results to differ materially include the following: business conditions, growth rate in temporary staffing and the general economy; competitive factors; risks due to shifts in the market demand; the success of the company in attracting and retaining its management team and key operating employees; the impacts (direct and indirect) of COVID-19 on our business, our consultants and employees, and the overall economy.
David Foster, Investor Relations investorrelations@globalseafoodtechnologies.com
Click here to view the original press release!
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Wayne R
4 years ago
OK, Here is what I think about this, all just my opinion.
March 2021, they update their website which has absolutely no useful information to make a decision to buy or sell or hold.
There is this
Brent Gutierrez
CEO
Brent Gutierrez has over 40 years of experience in the Food Industry. He has been CEO and President of Global Seafood Technologies since 1997. Brent attended Mississippi State University and graduated Summa Cum Laude with a Major in Food Science and Technology with a minor in Biochemistry. As a young man he oversaw the production and route deliveries of ice and seafood in the family business, Biloxi Freezing Inc. During his time in college, the family business was sold to Conagra. He and his uncle then opened Custom Pack Inc., a seafood processing facility. Brent was able to utilize modern freezing, processing, and marketing ideas to gain a strong foothold in the market. He also serves as the President of Killer Bee Inc. which was acquired by Global Seafood Technologies and serves as a wholly owned subsidiary of the company.
Killer Bee bait doesn't look like any reason to invest in this company, but, yet, that is all their web site really talks about.
Someone answers the phone when I call, but never get a call back. Most likely some answering service. Didn't think to say that I want to buy Killer Bee Bait for my 200 retail outlets.... May or may not have gotten a call back.
I really don't know what is going on, and it is all speculation on my part, but I think, without knowing for sure, that they are setting up for a reverse merger. It is a pretty damned clean stock, prolly worth a bunch of money as a shell and less as an active company selling killer bee bait....
OR, IT IS SIMPLY WORTHLESS, or something else entirely.
Do your DD, call, see who answers, ask questions.