ISW Holdings Announces 2020 Annual Financials Featuring 69% PHH Sales and 276%
LAS VEGAS, April 15, 2021 (GLOBE NEWSWIRE) — via InvestorWire — ISW Holdings, Inc. (OTC: ISWH) (“ISW Holdings” or the “Company”), a global brand management holdings company with commercial operations in telehealth and cryptocurrency mining, is pleased to announce the filing of the Company’s 2020 financial performance data, which features continued top-line growth, overall positive net profitability on sales, and strong growth in cash.
“While this data is important, it references a period that predates the commercial launch of our cryptocurrency mining and mining equipment segment, but we are still proud to have continued our strong trend of growth in telehealth and home healthcare, and that trend is evident in our 2020 performance data,” commented Alonzo Pierce, president and chairman of ISW Holdings.
Financial Highlights for the Year Ended Dec. 31, 2020
- Paradigm Home Health (PHH) gross revenues of $1,061,927, compared to $627,498 in 2019, representing year-over-year growth of 69%.*
- PHH recognized a two-year net profit average of 9.95%. Net profits for the two-year period ending Dec. 31, 2020, totaled $147,361.*
- Net cash increased 528% year-over-year to $86,000.
- Total assets increased 276% year-over-year.
*Paradigm Home Health (PHH) is a joint venture. The Company earns 50% of the net profit or loss associated with PHH.
Operational Highlights for the Year Ended Dec. 31, 2020
- Invested in cryptocurrency mining through Bit5ive LLC partnership and design, assembly and installation of first POD5IVE mining pod.
- Invested in TeleCare subsidiary, including telehealth technology, creating opportunity to materially improve home healthcare revenue share.
- Established anti-dilution initiative, sharply reducing authorized and outstanding shares and convertible note liabilities.
- Established stock option compensation plan in anticipation of the establishment of an advisory board and the addition of new top team members.
- Set in motion process to uplist onto OTCQB exchange tier.
Despite challenges related to the pandemic health crisis, 2020 turned out to be a year of dramatic transformation for ISW Holdings. The year was marked by several major transitions, all of which form the contextual foundation supporting much bigger expectations in 2021.
Foremost among these key steps was the critical mid-year formation of the Company’s partnership with Bit5ive, LLC. That step established the Company’s cryptocurrency mining and mining equipment segment at a time when Bitcoin was trading at approximately $10,000. That was followed by aggressive investment in the design, assembly, shipping and installation of the Company’s first POD5IVE high-PUE mining pod.
The Company’s investment in establishing its TeleCare subsidiary has also turned out to be a key step, laying a foundation for its recent and beneficial restructuring of its relationship with its telehealth and home healthcare joint venture partner, Paradigm Home Health. As recently…