Oliveda International, Inc. Updates Shareholders on Financial Reporting and Future Plans
SANTA MONICA, CA, Aug. 14, 2018 (GLOBE NEWSWIRE) -- Oliveda International, Inc. (OTC Pink: OLVI), a leading international natural cosmetics innovator whose products deliver 70% more efficiency than any other brand, today provided an update on the status of its financial reporting and plans to disclose up-to-date quarterly and annual reports. The company’s accountants have completed year-end financials for 2017 and first quarter of 2018 and are expected to have second quarter 2018 financials finished before the August 15 filing deadline.
With its accounting up-to-date, Oliveda International is evaluating the most appropriate channel for public financial disclosure, including the possibility of filing disclosure with the Securities and Exchange Commission. The evaluation consists of interviewing new securities counsel candidates who specialize in SEC disclosure and the process of uplisting to higher markets and exchanges.
“It is important to have OLVI’s financial reporting up-to-date before we initiate the Oliveda’s expansion into the U.S. market,” said Chairman and CEO Thomas Lommel. “We plan to open a Los Angeles-area Olive Tree Pharmacy store concept as soon as possible, as part of our efforts to introduce Oliveda into North American markets. We are also looking at possible distribution into additional global markets which have large consumer bases and significant potential for growth.”
Oliveda International’s recently completed annual and quarterly financials reflect revenues generated from the operation of the company’s wholly-owned subsidiary, Oliveda Deutschland GmbH, which sells its products through various distribution channels, both online and brick-and-mortar, including its own corporately-owned stores.
Oliveda Deutschland’s current retail presence includes just 3 countries: Germany, Austria, and Switzerland. Additional Oliveda subsidiaries are planned for Europe, Asia, North America, and South America, which are expected to become part of the global Oliveda International footprint. Oliveda expansion strategy includes plans to open 60 worldwide stores the coming years.
The Oliveda story began with healing and the development of its first products in a tree house in the Andalusia region of Spain. Its products immediately captured the attention of those who were introduced to them. Now, with over 20 years of manufacturing and distribution of cosmetic and holistic products built around the pure essence of the olive tree and its oils, Oliveda Deutschland offers a complete line of products that includes face, body, hair, and products for inside-the-body holistic benefits.
Oliveda possesses 20 years of experience with organic active substance cosmetics from the olive tree but has only been selling for 8 years. Before that, the company developed, tested and applied the products in our exclusive Oliveda Spa in Mallorca. Then, when the first celebrities visited Oliveda’s spas and used the olive tree therapy, and Vogue and many other magazines reported on the uniqueness of Oliveda products, the company began serving markets in Germany, Austria, and Switzerland. Only now that Oliveda has secured the resources with more than 30,000 ecologically certified mountain olive trees does management feel ready to act globally.
Additional information on the company’s current activities and future plans are expected to be disclosed in upcoming press release and filings. Interested investors are encouraged to contact the company at 619-202-7456 or investors@oliveda.com.
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