OLYMPIA, WA / ACCESSWIRE / August 21, 2023 / MHHC Enterprises, Inc. (OTCQB:MHHC), a diversified holding company with a focus on its subsidiaries, including MHHC Warranty and Services Inc., WarrantyYourWorld Inc., MHHC Reinsurance Inc., and ONBLi Inc., is proud to announce an update on its operating results highlighted by a surge in financial growth year over year.
For the year ending 12/31/2022, the company’s audited financial statements reflected an increase in revenue to $662,463 in 2022 compared to $431,520 in 2021, a 54% increase in gross revenue as compared to the 2021 fiscal year. This remarkable growth is attributed to continued market expansion and new product innovations that have allowed the company to penetrate new markets and capture a larger customer base. The Company’s gross margins also improved to 64% in 2022 compared to 52% in 2021, as revenue growth outpaced the increase in cost of revenues for these periods, which were $240,569 and $207,744 in 2022 and 2021, respectively. The company has invested significantly in upgrading its technology infrastructure to optimize the sales process, resulting in increased efficiency, streamlined processes, and improved customer interactions.
“Our fiscal results reflect our unwavering dedication to innovation, customer-centricity, and operational excellence,” stated CEO Frank Hawley, of MHHC Enterprises, Inc. “We have strategically positioned ourselves to capitalize on emerging market trends and customer needs, resulting in impressive revenue growth and increased operational efficiency. We remain focused on executing our strategic initiatives and fostering sustainable growth in the year 2023.”
Looking ahead, MHHC Enterprises, Inc. anticipates continued momentum and growth across its existing channels and new market opportunities. The company remains committed to its strategic priorities of continued growth through increased market share, new product launches, innovative technology, and the delivery of sustained value to its stakeholders.
The foregoing description of the Company’s financial and operating results does not purport to be complete and is qualified in its entirety by the Company’s audited financial statements for the fiscal years ended December 31, 2022, and 2021 and accompanying footnotes, which are contained in the Company’s special annual report on Form 1-K, filed with the Securities and Exchange Commission on May 18, 2023. Form 1-K
About MHHC Enterprises, Inc.
MHHC Enterprises Inc. (MHHC) is a diversified holding company with a focus on its subsidiaries, including MHHC Warranty and Services Inc., WarrantyYourWorld Inc., MHHC Reinsurance Inc., and ONBLi Inc. Led by CEO and President Frank Hawley, MHHC is a national provider of help desk and warranty insurance services, the company offers its products through over 1,000 retail locations and online. Additionally, the company has a focus on the protection of consumer assets through the utilization of value-added warranties. The company is also focused on improving its subsidiaries to provide increased value to its customers and other stakeholders.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this presentation other than statements of historical fact, including statements regarding our anticipated future operating results, momentum and growth prospects, are forward-looking statements. The words “believe,” “may,” “will,” “estimate,” “potential,” “continue,” “anticipate,” “intend,” “expect,” “could,” “would,” “project,” “plan,” “target,” and similar expressions are intended to identify forward-looking statements.
We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our operating results, financial condition, business strategy, short-term and long-term business operations and objectives, and financial needs. These forward-looking statements are subject to a few risks, uncertainties, and assumptions, including the possibility that we do not raise sufficient funding in our qualified Regulation A offering under which we have not raised any proceeds despite becoming qualified in January 2023, or otherwise access capital needed to fund our operations and business plan on favorable terms, in a timely manner or at all, that our investments of any such proceeds do not yield the results desired or anticipated, or that we are unable to sustain a positive trend in our financial results in future periods due to economic uncertainty, a possible recession or other factors beyond our control, as well as those described in the section titled “Risk Factors” in our Offering Circular on Form 1-A (File No. 024-11406), the most recent version of which was filed with the SEC on January 10, 2023 and qualified by the SEC on January 19, 2023. Moreover, we operate in a competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. Considering these risks, uncertainties, and assumptions, the future events and trends discussed in this presentation may not occur, and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. The events and circumstances reflected in the forward-looking statements may not be achieved or occur. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, performance, or achievements. We undertake no obligation to update any of these forward-looking statements for any reason after the date of this press release or to conform these statements to actual results or revised expectations, except as required by law.
SOURCE: MHHC Enterprises Inc.