NEW YORK, NY, May 12, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- ILUS International Inc (OTC: ILUS) is a M&A company focused on acquiring and developing technology-based companies globally. The company has already completed 3 acquisitions in 2021 and has also already reached significant progress milestones during the second quarter.
ILUS International (ILUS) is focused on building solid foundations which will enable it to pursue its aggressive growth and acquisition plans. This process has continued very well since the new management took over the company in late January 2021. An aggressive administrative clean-up of the company reporting, filings and back office has been underway. The company has also successfully negotiated the settlement of the majority of the historic debt/notes with further details on this being released soon.
ILUS is currently undergoing audits in order to be fully reporting. The Form 10 preparation is underway and the official name change will commence once the Form 10 is effective. In addition, the company has submitted an application to the Canadian authorities to have a Cease Trade Order (CTO) lifted that was applied in Canada in 2012/2013. Since the submission, subsequent documents have been supplied and ILUS expects the CTO to be lifted soon.
The company is pursuing a number of global strategic acquisitions. These are at various stages of due diligence and/or negotiation. In conjunction with the acquisitions, the company is exploring the opening of a facility in India in order to facilitate imminent contracts; and beyond this, ILUS expects to open its first facility in the USA before the summer is over. The company is currently recruiting a number of senior managers to help facilitate the integration and expansion of the businesses.
The ILUS coin was successfully launched and is still in Pre-Sale stage where it can be purchased at a discount to the listing price off the ILUS Coin website. Those who are interested may follow the Coin’s news on the relevant social media channels. The ILUS coin is expected to assist ILUS with its aggressive growth plans and with social impact, as ILUS strives to make the world safer through the leasing of ILUS Fire and Life Safety Equipment to customers that urgently require the equipment but cannot afford the upfront capital outlay.
ILUS will release its Quarter 1 results during the week commencing 16th May 2021. In addition to this, the company will release further question and answer videos as well as more product updates over the coming weeks. Further Dubai facility photos will be released once many of the employees have returned from India where they are currently in a COVID lockdown and restricted from traveling to the United Arab Emirates.
ILUS will also finalize the date of its shareholder meeting soon. The company originally intended to conduct its first major shareholder meeting alongside a live product demonstration, however this is proving to be very challenging due to the ongoing COVID travel restrictions; therefore the demonstration and roadshow will be done at a later date in the USA and whilst the shareholder meeting will take place in a virtual format.
Following the Eid holiday, the ILUS team will be conducting numerous road shows around the Middle East, talking about the company, its progress and its vision to numerous Ultra High Net Worth Individuals and influential VIPs.
ILUS CEO, Nick Link, commented with the following: “While the markets at the moment are more challenging than desired, the team remains focused on delivering results and are performing well. We will continue to do well and deliver on our 2021 milestones. We would like to thank our patient and loyal shareholders who continue to support us and believe in our mission.”
For further information on the companies please see their communication channels:
Website: https://ilus-group.com
Twitter : OTC_ILUS
Contact:
Email: IR@Ilus-Group.com
Website: https://ILUS-coin.com
Twitter: ILUS_Coin
Telegram : ILUS-COIN Community
Source: ILUS
Related Links
https://ilus-coin.com
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