If you are reading this I know you are interested in something I am interested in too; Phoenix Rising Companies Inc. As Chairman and CEO I am pleased with progress being made on what is almost a continual basis.
It is worth noting that Covid-19 has had a temporary but real negative impact on the first quarter 2020 results for our subsidiary operations. We expect operations to be greatly improved going forward through the end of this year.
In 2019 our Admall division grew beyond expectations. They’ve added new distributors and increased their market reach. In December the Admall division President met with the heads of the leading on line distribution system in Asia. It’s too early to promise any common effort but there is ongoing discussion.
Admall picked up new products in 2019. The full line of supplements from Arginine Miracle, LLC of Utah, USA. Admall won an exclusive distribution agreement for most of Asia. The Arginine Miracle products are considered by many in the scientific world to be the finest in the industry.
Tieshan Oil continues to pump out revenue as they specialize in their niche segment. Some gasoline producers depend on Tieshan almost exclusively for necessary product components. This bodes well for the future of what has been our workhorse subsidiary. The Covid-19 slow down at Tieshan is over.
In February of 2020 we acquired 100% of Wandi mining. This addition to our portfolio puts at least 24 million tons of clean, low sulfur, thermal coal in our asset group and adds the promise of clean energy to China while creating an expectation of more than a billion dollars in revenue for our company.
Of great importance is the pending acquisition of 99 Holdings and its subsidiary 99 Technologies. These companies own and exploit what we believe is ground breaking technology in the eradication of viruses, including Covid-19 and infection control of enclosed spaces. We are confident the world is undergoing a cultural shift in favor of infection control. We expect consumers to demand cleaner hospitals, hotels, airplanes and more. 99 Holdings and 99 Technologies are there to meet the need. We see the correctness of our assessment as sales this year are running about 2000% (two thousand percent) over the same period in 2019.
We continue to be a growth oriented multi-continent industrial concern with an eye to the future. We have a great team in place who work tirelessly to ensure success for Phoenix Rising Companies every day.
Thank you if you’ve joined our effort by becoming one of our esteemed share owners. If you are just looking, thanks for your interest. We encourage you to keep your eye on us. With Optimism.