Hiru Corporation (HIRU)

[JMMatthews]

HIRU CORPORATION - Future Direction of Operations

PHOENIX, Oct. 5, 2023 /PRNewswire/ -- Hiru Corporation would like to announce that it has made a significant change of direction in its operational footprint to strengthen revenue producing operations in fiscal year 2024.

The Company has recently made several material changes to its business direction. It has consolidated its West Coast operations to its Glendale, Arizona location. As part of these changes, the Company sold Salome Water and Ice, and moved significant equipment and high-end customers from the California (Denman of California) operation when the commercial lease expired this summer. These changes were put in place to focus its operations on the West Coast to one location in Glendale, Arizona as the Company turns its focus to the acquisition of full-scale water bottling facilities on the East Coast, mainly in Florida and surrounding area. The Company's strategy is to aggressively scale up manufacturing operations on the East Coast to be able to attract new revenue streams in the first quarter of 2024.

Ms. Kathryn Gavin (President and CEO of the Company), states…"The Company has a solid plan of action to maintain its current history of ongoing quarterly revenue growth. As reported many times, we continue to increase our quarterly revenue each quarter since water bottle production started in 2021. As part of our new plan of action, having two facilities on the West Coast was not a financially sound course of action to continue, especially when we can maintain the same or higher revenue production from one location. We took advantage of the lease expiring at the California facility to make a cost-cutting move to improve our bottom-line performance at the same time we are in negotiations on several new facilities on the East Coast. We can service all our current West Coast customers, including Alkaline88, through our large manufacturing footprint at our location in Glendale, Arizona. By letting the lease expire in California, and moving key equipment and production to Arizona, we will significantly reduce our operational expenses in both facility and employee costs. The cost to do business in Arizona versus California is significantly lower especially when it comes to employee compensation and long-term retention, along with burdensome state regulations that added unnecessary expenses related to compliance. Our facility in Glendale is large enough, and has enough dormant capacity, to meet the current productions levels from the California location, and still expand as necessary as we keep adding new revenue streams on the West Coast. By consolidating our West Coast operations, we will be able to meet our current and future production requirements in a more efficient and cost-effective manner. Again, everything we do is about increasing revenue and ultimately maximizing our bottom-line performance. This move will allow us to put capital towards a manufacturing footprint on the East Coast to increase our revenue quarter by quarter."

https://www.prnewswire.com/news-releases/hiru-corporation--future-direction-of-operations-301949058.html

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