Movement Industries Corp (MVNT)

[chemist72]

Summary of MVNT past and present for new shareholders.
And for those thinking of becoming new shareholders.

Most "old-timers" on the board are very familiar with what I'm going to say in this post. So please excuse the old information.

MVNT was officially "born" in May 2019 from a takeover of the empty shell Visual Healthcare (VSHC). VSHC was acquired by LTN Capital (Linh Nguyen's company) and officially recognized as the new owner by the Nevada courts.

FINRA officially change the ticker symbol VSHC to MVNT and the name from Visual Healthcare to Movement Industries back in Nov. 2019. MVNT's first (and so far only official acquisition was HiAlloy Valve as reported in the 2020 Annual Report.

https://backend.otcmarkets.com/otcapi/company/financial-report/266083/content

So far, MVNT's business model seems to be acquisition of relatively small businesses engaged mainly in the manufacture of oil and gas related equipment. The equipment seems to fall into 3 main categories:
1) Valves - this is handled primarily by HiAlloy Valve. Revenues for HiAlloy Valve were ~$5400 in FY 2020 and so far more than 10 times greater in FY2021, ~$64,000. Its my opinion, that these relatively modest revenues for this segment are mainly due to the severe impact of the pandemic that has ravaged many industrial sectors since March 2020. Fortunately, many of these sectors, including oil and gas, are now bouncing back. I therefore expect revenues for HiAlloy to increase greatly in FY 2022.

2) Pumps - In August 2019, MVNT announced the signing of a Binding Letter of Intent for the acquisition of Predominant Pumps. This company belongs to Sami (Hassan) Suheil. Unfortunately, as far as I know, this acquisition has not been finalized, and hence, no revenues from this business have so far been recognized by MVNT. As a guess, I would say revenues for this business (post pandemic) would range from about $5-10M annually.

3) Electronic control and monitoring systems for the above noted pieces of equipment - In Dec. 2019, MVNT announced the acquisition of SGX Industrial. Unfortunately, this acquisition also does not seem to have been officially closed. Sami Suheil is or was the primary owner of this company as well. In March of 2021, I discovered that SGX had changed its name to WellsUp on the Texas SOS website. WellsUp has its own website, but I do not know much about their revenues.

https://www.wellsup.com/about-us/

4) In addition to the 3 companies discussed above, MVNT also disclosed an acquisition of Velocity Manufacturing. Their revenues were about $3M in 2018 and were running at a rate of ~$5M annually in 2019-2020 until the pandemic occurred in March 2020. I don't know why revenues from this business were not included in MVNT's revenues for 2020 nor so far in 2021.

https://www.otcmarkets.com/stock/MVNT/news/Visual-Healthcare-Corp-OTC-VSHC-Announces-Acquisition-of-Velocity-Manufacturing-Corporation?id=235871