IRVINE,
Calif., Aug. 18, 2022 /PRNewswire/ -- ATIF
Holdings Limited (Nasdaq: ATIF) (the "Company," "ATIF" or "We"), a
holding company providing business and financial consulting
services in Asia and North America, is pleased to announce that it
has signed a definitive agreement for US$800,000 to provide IPO advisory services to
Massimo Motor Sports, LLC ("Massimo"), which manufactures
all-terrain vehicles (ATVs) and utility task vehicles (UTVs) in
Garland, Texas.
Massimo Motor Sports is based in a 325,000 square foot factory
in the heart of the Dallas/Ft
Worth area, with vast product lines that include a wide
selection of farm and ranch tested utility UTV's, recreational
ATV's, and Americana style mini-bikes. Massimo's wholly owned
subsidiary, Massimo Electric features a diverse product line
of E-Scooters, E-Bikes, E-Koolers, solar panels, and EV charging
stations. Massimo's affiliate company, Massimo Marine, features a wide selection of
luxury boats and recreational boating supplies.
Massimo's most recent financial report (unaudited)
shows that it achieved revenues of US$81.2 million in fiscal year 2021, an increase
of 63.2% from fiscal year 2020 revenues of US$49.8 million; Net income in fiscal year
2021 was US$5.4 million, compared to
fiscal year 2020 net income of US$8.1
million.
Jun Liu, President,
Chairman of the Board, and CEO of ATIF, commented, "We are pleased
to announce this engagement with Massimo, a proven innovator in the
UTV and ATV markets. David and his team have established an
impressive reputation in the industry for quality products with
great customer service at reasonable prices. I look forward to
seeing Massimo's growth and expansion plans come to fruition as a
public company in this fast-growing sector."
"Following an extensive search process which yielded several
highly qualified firms, we are excited to begin working with a
world class organization like ATIF to build our listing team and
help us attain our goal of being a publicly-traded company,"
commented David Shan, Founder
and Chief Executive Officer of Massimo Motor Sports, LLC. "Going
public is a massive undertaking that requires an experienced team
of consultants with proven track records of success, particularly
when navigating challenging capital markets. We are excited to take
this important step with ATIF, which will facilitate us in securing
important growth capital, while gaining additional exposure and
access to retail and institutional investors in the United States and abroad."
About ATIF Holdings Limited
ATIF Holdings Limited ("ATIF") is a holding group with business
consulting, asset management, and investment businesses, with
offices in Los Angeles,
California, Hong Kong, and
Shenzhen, China. ATIF mainly
provides IPO Advisory Services to small and medium-sized
enterprises in Asia and
North America. ATIF has advised
several enterprises in China in
their plans to become publicly listed in the United States. ATIF was awarded the "Top
10 Best Listed Companies 2019" from the "Golden Bauhinia Award,"
the highest award in Hong Kong's
financial and securities industry. For more information, please
visit https://ir.atifchina.com/.
To learn more about IPOEX, our financial services platform,
please visit: https://www.ipoex.com/
For more information about NFTDPO, our NFT service division,
please visit https://nftdpo.com/.
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Forward-Looking Statements
Certain statements made in this release are "forward looking
statements" within the meaning of the "safe harbor" provisions of
the United States Private Securities Litigation Reform Act of 1995.
When used in this press release, the words "estimates,"
"projected," "expects," "anticipates," "forecasts," "plans,"
"intends," "believes," "seeks," "may," "will," "should," "future,"
"propose" and variations of these words or similar expressions (or
the negative versions of such words or expressions) are intended to
identify forward-looking statements. These forward-looking
statements are not guarantee of future performance, conditions or
results, and involve a number of known and unknown risks,
uncertainties, assumptions and other important factors, many of
which are outside the Company's control, that could cause actual
results or outcomes to differ materially from those discussed in
the forward-looking statements. Important factors, among others,
are: whether companies for which the Company provides IPO advisory
services will be go public, and if they go public, that they will
be successful, that Massimo's unaudited revenues and net income for
2021 and 2020 will not be subject to material adjustment, future
financial and operating results, including revenues, income,
expenditures, cash balances and other financial items; ability to
manage growth and expansion; current and future economic and
political conditions; ability to compete in an industry with low
barriers to entry; ability to obtain additional financing in the
future to fund capital expenditures; ability to attract new
clients, complete projects for clients, and further enhance brand
recognition; ability to hire and retain qualified management
personnel and key employees; trends and competition in the
financial consulting services industry; a pandemic or epidemic; the
occurrence of any event, change or other circumstances that could
affect the Company's ability to continue successful development and
launch of its NFT collection; the possibility that the Company may
not succeed in developing its NFT platform and business due to,
among other things, changes in the business environment,
competition, changes in governmental regulation, or other economic
and policy factors; the ability of the Company to continue
compliance with the development of applicable regulatory
regulations in connection with blockchain, digital assets and the
NFT industry; the possibility that the Company's ongoing NFT
services may be adversely affected by other economic, business,
and/or competitive factors; and other factors listed in the
Company's annual report on Form 20-F and other documents filed with
the Securities and Exchange Commission. The Company undertakes no
obligation to update forward-looking statements to reflect
subsequent occurring events or circumstances, or changes in its
expectations, except as may be required by law. Although the
Company believes that the expectations expressed in these
forward-looking statements are reasonable, it cannot assure you
that such expectations will turn out to be correct, and the Company
cautions you that actual results may differ materially from the
anticipated results expressed or implied by the forward-looking
statements we make. You should not rely upon forward-looking
statements as predictions of future events. Forward-looking
statements represent our management's beliefs and assumptions only
as of the date such statements are made. These forward-looking
statements are made as of the date of this news release.
This press release is neither an offer to sell nor a
solicitation of an offer to buy any security.
Media contact:
ATIF Holdings Limited
Anna Huang
Email: anna@atifchina.com
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SOURCE ATIF Holdings Limited