FAIRFAX, VA, Sept. 10, 2021 — McapMediaWire — Futuris Company (OTC PINK: FTRS) a Human Capital Management (HCM) company focused on HCM Staffing, Consulting and Tech Services, today issued a letter to shareholders from its President, Kalyan Pathuri, providing a review of corporate milestones and initiatives for 2021.
At the end of 2020, we announced the closing of TalentBeacon International, a consulting and delivery organization for global talent acquisition, management and retention solutions. Since then, Futuris has successfully launched a “Partner Staffing Program” that assists staffing and consulting organizations that require assistance in scaling contract labor and consulting practices.
Since then, I am pleased to report that we have been hard at work executing on our roll-up strategy. Since our last update, we have acquired three additional companies into our portfolio.
Computer Deductions Inc, (“CDI”) a software development service provider to major corporations, was acquired in April 2021. CDI focuses on the design and development of large custom systems and provides top management consulting services.
In June 2021, we acquired the TASA Group Inc (“TASA”), a pioneer in the expert witness sourcing and referral industry. TASA delivers timesaving, targeted referrals to quality expert witnesses in all fields and all locations, for plaintiff or defense. For the month of June 2021, TASA revenue grew 44% over the prior year period.
Our final acquisition to date came with the acquisition of HealthHR, Inc (“HealthHR”), which marked our entrance into the medical staffing vertical. HealthHR provides the home health industry, facilities and medical offices with outstanding physical, occupational and speech therapists. HealthHR is a small acquisition, and we are actively looking to complement its operations and business model by adding management and other assets into the portfolio.
We believe that these four acquisitions will contribute strong revenue gains and create opportunities for cross-selling and market expansion. Once the Company begins the integration process, there will be additional opportunities to increase profitability and leverage synergies. The Company is also in the process of unwinding its first acquisition, Pioneer Global, and selling the firm back to its original owners. We will update you on the status as material events occur.
On September 6th, our CFO, Eric Stutzke, resigned for personal reasons. However, we entered into a consulting agreement with Mr. Stutzke where he will continue to assist the company in achieving its financial and operational objectives.
We are continually looking to add top talent to our team, and most recently expanded our Board of Directors. We recently announced the addition of Suresh Doki to the Board, and will look to add independent directors that will add value and bring particular areas of expertise that will help the Company grow.
As we look ahead over the next six months, the Company is focused on the following core initiatives:
- Integrate acquired assets to realize cost savings
- Implement systems, controls and processes to augment faster financial closing and reporting
- Build the corporate and financial infrastructure to support scalability
- Continue to execute on opportunistic tuck-in acquisitions to complement the existing portfolio
- Expand our Board to have best-in-class governance and lastly,
- Apply for OTCQB listing.
We believe that these steps are necessary to ensure we have the right foot forward before we attempt to uplist to a national exchange.
“I am proud of what we have accomplished over the first 6 months of year. I am looking forward to charting a course for the second half of the year that will allow us to accomplish our goals,” said Kalyan Pathuri, President of Futuris.
Kalyan Pathuri, President
About Futuris Company
Futuris is a Human Capital Management (HCM) company focused on executive search, Staffing and Consulting services specializing in verticals such as Medical, Accounting/Finance, Information Technology, Recruitment Process Outsourcing (RPO), and Legal. The Company is committed to building a global HCM company through highly targeted and accretive acquisitions and operational efficiencies. For more information, please visit http://futuris.company/.
Certain statements contained in this press release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, anything relating or referring to future financial results and plans for future business development activities, and are thus prospective. Forward-looking statements are inherently subject to risks and uncertainties some of which cannot be predicted or quantified based on current expectations. Such risks and uncertainties include, without limitation, the risks and uncertainties set forth from time to time in reports filed by Futuris Company with the Securities and Exchange Commission. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends affecting the financial condition of our business and although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Consequently, future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward the forward-looking statements contained herein. The company undertakes no obligation to publicly release statements made to reflect events or circumstances after the date hereof.
Phone: (347) 837-0626
SOURCE: Futuris Company