FORT WORTH, TX / ACCESSWIRE / September 18, 2015
/ Victura Construction Group, Inc. (OTC: VICT), a holding
company focused on strategic acquisitions within the construction
and real estate industries recently announced its unaudited 2015
financial results for the second quarter ending June 30, 2015 and
corporate updates.
Management Commentary
"I am pleased to report that we've been able to generate some
positive momentum during the first half of 2015. We were especially
able to capitalize on the flood and storm damage that swept across
Texas during the spring. We will continue to recognize a portion of
these revenues well into the third quarter as we're able to
complete the backlog of work," Said Corbin Grubbs, Victura
Construction Group's Chief Financial Officer.
Q2 2015 Financial Results
Revenue was $3.07 million, an increase of 40.99% compared to
$2.18 million in the second quarter of 2014, and an increase of
132% compared to $1.32 million in the prior quarter.
Total cost and expenses were $2.75 million, a 31.8% increase
compared to $2.09 million in the second quarter of 2014, and a
56.6% increase compared to $1.76 million in the prior quarter.
Net earnings were $319,869 or $0.00 per share, compared to net
earnings of $91,372 or $0.00 per share, in the second quarter of
2014 and a net loss of $432,945 or $0.01 per share in the prior
quarter.
Balance Sheet, Cash, Liabilities
As of June 30, 2015, the Company had cash and cash equivalents
of $369,630, an increase of 79.8% from $205,605 at December 31,
2014. Total liabilities were $4.11 million as of June 30, 2105, an
increase of 19.3% from $3.53 million at December 31, 2014.
Corporate Update
Tolltech Integrated Healthcare Letter of
Intent:
The Company is currently under re-negotiations with Toltech
Integrated Healthcare Solutions Corporation ("THIS") to account for
multiple sites recently executed under Memorandum of Understanding
or Letter of Intent by ("THIS") and other First Nations groups
throughout Canada.
C3E Holdings Letter of Intent:
C3E Holdings, a Subsidiary of Victura Construction Group Inc.,
has executed definitive company agreements and leased and subleased
its first location at 4228 Josey Lane Carrollton, Texas
75007. The sublease was signed co-terminus with the
original lease, and the company is currently soliciting bids for
tenant-improvement, furniture, and fixtures.
SAFE HARBOR
This press release contains forward-looking statements regarding
future events and our future results that are subject to the safe
harbors created under the Securities Act of 1933 (the "Securities
Act") and the Securities Exchange Act of 1934 (the "Exchange Act").
All statements other than statements of historical facts included
in this report regarding our financial position, business strategy,
plans and objectives of management for future operations, industry
conditions, and indebtedness covenant compliance are
forward-looking statements. When used in this report,
forward-looking statements are generally accompanied by terms or
phrases such as "estimate," "project," "predict," "believe,"
"expect," "anticipate," "target," "plan," "intend," "seek," "goal,"
"will," "should," "may" or other words and similar expressions that
convey the uncertainty of future events or outcomes. Items
contemplating or making assumptions about, actual or potential
future sales, market size, collaborations, and trends or operating
results also constitute such forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties, and important factors (many of which are beyond our
company's control) that could cause actual results to differ
materially from those set forth in the forward-looking statements,
including the following: oil and gas prices, general economic or
industry conditions, nationally and/or in the communities in which
our company conducts business, changes in the interest rate
environment, legislation or regulatory requirements, conditions of
the securities markets, our access to capital, changes in
accounting principles, policies or guidelines, financial or
political instability, acts of war or terrorism, and other
economic, competitive, governmental, regulatory and technical
factors affecting our company's operations, products, services and
prices.
We have based these forward-looking statements on our current
expectations and assumptions about future events. While our
management considers these expectations and assumptions to be
reasonable, they are inherently subject to significant business,
economic, competitive, regulatory and other risks, contingencies
and uncertainties, most of which are difficult to predict and many
of which are beyond our control.
Contact:
Victura Construction Group, Inc.
Patrick J. Johnson
Chief Communications Officer
(817) 546-3212
pjohnson@victuraconstruction.com
SOURCE: Victura Construction Group, Inc.
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