Item 7.01 Regulation FD Disclosure.
On July 6, 2020, Success Entertainment Group International, Inc. (OTCQB: SEGN) (the “Company”) issued a press release announcing its recently-filed, unaudited financial results for the first quarter ended March 31, 2020.
While the Company experienced a significant reduction in revenue for the first quarter as it winds downs its overseas operations, Rennavotio Infratech (RII), the Company’s- newly-acquired subsidiary’s newly- launched Medical Infrastructure division and the Company’s contracted acquisition of Utility Management Corp. is projected to add in excess of $5,000,000.00 in revenue alone for the year 2020.
Operational expenses required for the Company’s growth in certain areas such as new website development, social media programs and engagement, telemarketing and virtual events are anticipated. Any new expenses, however, are expected to be easily offset by the anticipated new revenue for 2020.
Our Personal Protective Equipment (PPE) & Medical Manufacturing division initial pilot program for PPE products generated sales of over $480,000.00 during the second quarter of 2020. RII continues to focus on ‘made in the USA’ products. The company is pursuing partnerships and or participation in proposed manufacturing facilities in the U.S. RII has targeted four (4) primary PPE products: Gowns, Gloves, Mask and Disinfecting Cleaners.
“As the country slowly emerges from the devastating effects of the last few months, we see growth opportunities in the underground utility, water/refuse management, smart city technology and medical infrastructure markets. We believe that our country’s path to recovery will be heavily focused in these vertical markets, creating substantial opportunities for Renavotio,” said Billy Robinson, CEO.
The information in this Item 7.01, including the exhibit attached hereto, is furnished solely pursuant to Item 7.01 of Form 8-K. Consequently, such information is not deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liabilities of that section. Moreover, the information in this Item 7.01, including this exhibit, shall not be deemed to be incorporated by reference into the filings of the registrant under the Securities Act of 1933.
Please do not follow me!
Long periods of no contact may occur.
