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$NIHK Video River Networks Reports Record Profit
Press Release | 05/13/2021
Revenue up 34% and EPS up 4,391% to all-time record EPS of $0.002 and first profitable quarter in the Company’s most recent history

TORRANCE, CA , May 13, 2021 (GLOBE NEWSWIRE) -- Video River Networks, Inc. (OTC PINK:NIHK) (the "Company"), an Electric Vehicles and Battery Technology holding company, is pleased to announce the first profitable quarter in its most recent history. The Company posted revenue of $665,667, up 34 percent year over year, and quarterly earnings per diluted share of $0.002, up 4,391 percent.

Major highlight as follows:

EPS = $0.002
Cash = $89,021
Net Income = $443,555
Current Assets = $478,397
Working Capital = $447,767
Current Liabilities = $28,630
Operating Cash Flow = $155,777
Price-Earning (P/E) ratio = 25.5
Return of Equity = 0.99
Current Ratio = 8.27

“It was really an awesome quarter. This quarter for Video River Networks wouldn’t have been possible without the tireless/innovative work and risk-management expertise of every NIHK team member,” said Frank I Igwealor, Video River Networks’ CEO. “We’re gratified by the enthusiastic this result as we work to launch our electric vehicles operation, which has been made possible through our recently executed Joint Venture Agreement with Lingstar Co. We are also focused on how we maintain consistent profitability quarter after quarter. Our March 31, 2021 quarter business performance was fueled by astute cash management and risk arbitrage, which in overall would achieve a target of reaching consistent net cash flow from operation over time.”

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