Futuris Company Issues Shareholder Letter
FAIRFAX, VA, Sept. 10, 2021 (GLOBE NEWSWIRE) -- Futuris Company (OTC PINK: FTRS) a Human Capital Management (HCM) company focused on HCM Staffing, Consulting and Tech Services, today issued a letter to shareholders from its President, Kalyan Pathuri, providing a review of corporate milestones and initiatives for 2021.
At the end of 2020, we announced the closing of TalentBeacon International, a consulting and delivery organization for global talent acquisition, management and retention solutions. Since then, Futuris has successfully launched a “Partner Staffing Program” that assists staffing and consulting organizations that require assistance in scaling contract labor and consulting practices.
Since then, I am pleased to report that we have been hard at work executing on our roll-up strategy. Since our last update, we have acquired three additional companies into our portfolio.
Computer Deductions Inc, (“CDI”) a software development service provider to major corporations, was acquired in April 2021. CDI focuses on the design and development of large custom systems and provides top management consulting services.
In June 2021, we acquired the TASA Group Inc (“TASA”), a pioneer in the expert witness sourcing and referral industry. TASA delivers timesaving, targeted referrals to quality expert witnesses in all fields and all locations, for plaintiff or defense. For the month of June 2021, TASA revenue grew 44% over the prior year period.
Our final acquisition to date came with the acquisition of HealthHR, Inc (“HealthHR”), which marked our entrance into the medical staffing vertical. HealthHR provide the home health industry, facilities and medical offices with outstanding physical, occupational and speech therapists. HealthHR is a small acquisition, and we are actively looking to complement its operations and business model by adding management and other assets into the portfolio.
We believe that these four acquisitions will contribute strong revenue gains and create opportunities for cross-selling and market expansion. Once the Company begins the integration process, there will be additional opportunities to increase profitability and leverage synergies. The Company is also in the process of unwinding its first acquisition, Pioneer Global, and selling the firm back to its original owners. We will update you on the status as material events occur.
On September 6th, our CFO, Eric Stutzke, resigned for personal reasons. However, we entered into a consulting agreement with Mr. Stutzke where he will continue to assist the company in achieving its financial and operational objectives.
We are continually looking to add top talent to our team, and most recently expanded our Board of Directors. We recently announced the addition of Suresh Doki to the Board, and will look to add independent directors that will add value and bring particular areas of expertise that will help the Company grow.
As we look ahead over the next six months, the Company is focused on the following core initiatives:
We believe that these steps are necessary to ensure we have the right foot forward before we attempt to uplist to a national exchange.
“I am proud of what we have accomplished over the first 6 months of year. I am looking forward to charting a course for the second half of the year that will allow us to accomplish our goals,” said Kalyan Pathuri, President of Futuris.
Kalyan Pathuri, President
About Futuris Company
SOURCE: Futuris Company
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