PHOENIX, Sept. 26, 2022 /PRNewswire/ -- Hiru Corporation (OTC Markets: HIRU), a Georgia corporation (the "Company" or "HIRU"), would like to announce that the Company has acquired three additional fully automated water bottling lines and is close to finalizing its SQF certification previously announced.
The Company is purchasing three additional automated water bottling lines with our Common Stock from a manufacturing plant that is closing in the State of California. The opportunity to purchase these lines came less than a month ago. The Company was able to visit with the seller in California, negotiate the purchase directly, and then come to terms very quickly. The Company expects to have these three automated bottling lines dismantled and packaged for travel, transported to our facility, installed professionally, and then approved by the appropriate government agencies in the next 120-150 days.
Ms. Kathryn Gavin (President and CEO of the Company), states…"This acquisition came exactly at the time we needed it as everything has during the past year of operations. We have been truly blessed at every turn since we started. With the acquisition of the SPQS gallon water bottling line we announced earlier this week, the purchase of these three automated water bottling lines now fully completes the operational footprint of our current manufacturing facility. These lines will be placed in bay three through five which each have previously been designed and constructed to utilize an automated water bottling line. Additionally, the nature of the purchase of these lines with the issuance of Common Stock has saved the Company more than $2,00,000 USD in cash and will now allow us to fully service all the current and projected future product invoices from our two largest clients without a significant outlay of the Company's cash flow or take on additional debt and its related ongoing debt service. We have now become one of the largest commercial water bottles copackers on the West Coast of the United States. Looking back at the last year of operations, we have come along way. We have taken advantage of every opportunity to expand our manufacturing capabilities which has allowed us to prove to our largest clients that we can meet their manufacturing demands on an ongoing basis, as needed and required. This has spurred our rapid growth both on the side of our manufacturing capabilities, but more importantly in our continued receipt of additional larger invoices from our clients."
The Company is also in the final process of getting its SQF certification completed. This will allow us to start the servicing invoices for products already in hand from a major nationwide retailer. Additionally, the Company is in final negotiations and should be announcing two new letters of intent, one with regards to an east coast water operation and one a west coast water operation.
Ms. Kathryn Gavin (President and CEO of the Company), further stated…"The SQF approval will be finalized very soon is a major milestone for the Company. It will be ongoing large invoices for a major retailer nationwide that will result in significant top line revenue on an ongoing basis that will grow in both size of invoice for products and frequency of receipt as we show we can meet their very large water bottling demands. As to the letters of intent that are currently being negotiated, once executed and put to final agreement, this will allow the Company to have production capabilities on both coasts and will not only increase our capacity to manufacture water bottles of all sizes, but it will also attract an all-new client base in places we are not able to service previously. Again, each month the Company has grown in top line revenue since we took it over, and it looks like this trend will continue for the foreseeable future and well in to calendar year 2023."
Certain statements that we make may constitute "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information concerning future strategic objectives, business prospects, anticipated savings, financial results (including expenses, earnings, liquidity, cash flow and capital expenditures), industry or market conditions, demand for and pricing of our products, acquisitions and divestitures, anticipated results of litigation and regulatory developments or general economic conditions. In addition, words such as "believes," "expects," "anticipates," "intends," "plans," "estimates," "projects," "forecasts," and future or conditional verbs such as "will," "may," "could," "should," and "would," as well as any other statement that necessarily depends on future events, are intended to identify forward-looking statements. Forward-looking statements are not guarantees, and they involve risks, uncertainties and assumptions. Although we make such statements based on assumptions that we believe to be reasonable, there can be no assurance that actual results will not differ materially from those expressed in the forward-looking statements. We caution investors not to rely unduly on any forward-looking statements.
Hiru Corp. is a Georgia corporation, is a public quoted Pink Sheet OTC issuer under the ticker symbol "HIRU" (the "Company"). The Company reports as an alternative reporting issuer with OTC Markets Group, Inc. and is current in its mandatory required filings (e.g., Pink Sheet Current). Currently, the Company has one wholly owned, operational subsidiary, AZ Custom Bottled Water, Inc., a Nevada corporation ("AZ Water"), which owns and operates a commercial water bottling and labeling facility based in Phoenix, Arizona. AZ Water operates a B2C website at https://azcustombottledwater.com/.
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SOURCE Hiru Corporation