New York City, April 21, 2017 (GLOBE NEWSWIRE) --
Hispanica International Delights of America, Inc. Provides Corporate Update
NEW YORK, NY April 21, 2017-- Hispanica International Delights of America, Inc. (OTCQB:HISP) ("Hispanica" or the "Company" ), a diversified food and beverage company in the Hispanic and ethnic food industry, announced today a corporate mid-year update covering Company activities, expected near-term events and comments on recent market conditions, as follows:
“2016 has been a transformative year for Hispanica as we evolved into our commercial stage and revenue generating mode,” said Fernando Oswaldo Leonzo, Chairman & CEO of the Company. “The continued execution on our business model and aggressive growth strategy has resulted in significant revenue generation. Our management team was able to secure additional financing for the company. Our focus will be to continue to build and expand our brands and distribution and grow our revenues to achieve profitability”.
“Our company has now turned the corner on integrating our DSD (Direct Store Delivery) operations as well positioning ourselves to introduce new brands that we have been working on acquiring and introducing them into our network of distribution both directly and through our wholesaler customers.” continued Mr. Fernando Oswaldo Leonzo. “We are now back on track with manufacturing our flagship products and will be giving more updates soon concerning the important development of Hispanica partnering efforts with larger players in the beverage industry.”
Here are our objectives for the coming two quarters:
The Company main corporate objectives for 2017 are as follows:
Major Milestones for Hispanica Over the Past Nine Months
Secured Financing for its Acquisition & Growth and Increase Cash Reserves
During 2016, the Company worked hard to secure financing for its growth and ongoing operations. To date, we have secured close to $1,000,000 in financing that was much needed to support our growing demand for our products.
ESD Acquisition and Integration
The company’s wholly owned subsidiary, Energy Source Distribution, Inc. has now been fully integrated into the HISP company. The company now has a platform from where to launch our upcoming products into the State of California. We have added new distributors that purchase our other portfolio products from Northern California down to Los Angeles, CA. We intend to leverage this network, in the largest state in the U.S., to disburse our GRAN NEVADA products as well as other brands we will be adding to our portfolio.
In summary, we are committed to driving topline performance with growth products in key geographic states, advancing and augmenting our pipeline of brands and aggressively managing our cost base. By doing these things well, we will preserve the ability to invest in our future, potentially start to generate strong cash flow and drive shareholder value and return over both the short and long term. Our main goal remains to continue our growth and achieve profitability soon.
Our strategy for fiscal 2017 is to grow our existing operations, expand our proprietary portfolio of brands, and to move forward with our next strategic acquisition that will continue to expand our top line revenue growth as well as give the Company a positive cash flow operational platform. We believe that we can get to an operational positive cash flow position by year end fiscal 2018 once we’re able to introduce our new brands into the marketplace where we already have a distribution foot print and where we can branch out from there. Our proprietary brands will allow the company to increase our operating margin hence allowing the company to get to a position of positive cash flow sooner.
For more information, please visit www.sec.gov to view our corporate filings.
About Hispanica International Delights of America, Inc.
Hispanic International Delights of America, Inc. (HISP) is a public company, founded in 2013. HISP is engaged in the distribution of proprietary, licensed and third party Hispanic and Ethnic food and beverages throughout the United States. HISP has already begun to distribute fruit juices, nectars, and milk based products and will begin to distribute teas, carbonated drinks, dry goods, preserves, frozen foods and bakery products. The brands distributed are done so on a proprietary basis (through distribution agreements and/or exclusive licensing arrangements). These brands emulate the flavors, tastes, and traditions, which have been known for generations among the Hispanic and other ethnic groups, and are now becoming part of the American mainstream diet. HISP is also committed in building long-term relationships with its consumers by offering superior, high quality products at the most competitive prices. HISP is headquartered in New York State with distribution operations under way in the New York City Tri-State Region, the Washington, D.C. Metro Area, the Houston Metropolitan Area, and in Los Angeles and the Northern California Region.
For more information on Hispanica International Delights of America, Inc. please visit http://www.hispanicadelights.com/
SAFE HARBOR ACT
Forward-Looking Statements: This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Hispanica International Delights of America, Inc. its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements including those relating to the Company’s financing being adequate for the Company to launch its growth and expansion plans among others, are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Hispanica International Delights of America, Inc.’s ability to control, and actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Hispanica International Delights of America, Inc.’s filings with the Securities and Exchange Commission.