IMD Companies Inc (OTCMKTS:ICBU) was up over 20% at one point in one day recently, after it announced one of its subsidiary companies, KRSNA Minerals received a large purchase order for 100K metric tons of magnesia chrome powder, from a Hong Kong company.
IMD Companies is a Florida-based corporation primarily engaged in the manufacturing, extraction and distribution in mining, Protein Health bars, hydroponics industries, as well as asset accumulations of revenue producing companies. That in mind, the company has a well-diversified portfolio of products and services, which could keep the company afloat when some industries are struggling. Moreover, the company is well positioned to be a holding company for acquisitions in the mining, hydroponics and medical spaces.
The company has been up over 300% over the past year, and it could continue to rise given the recent news it’s had. IMD Companies Inc (OTCMKTS:ICBU) announced that the Magnesia Chrome Powder order would be delivered within six months to the Hong Kong company, worth over $60M. That said, IMD Companies Inc announced previously that KRSNA was looking to expand to meet demands for contracts with China. The increased demand allowed the company to report revenues of over $8.1M and profits of over $500K during the fourth quarter of 2016.
IMD Companies Inc. CEO Richard Wilson stated, “This contract is exactly what KRSNA Minerals has been seeking to increase its revenues and profits for years to come. The expansion of mining on multiple claims is necessary for the demand for Manganese and Iron Ore. We are now turning all our attention to complete our audit of the company to become fully reporting. We are extremely pleased that KRSNA has signed this contract and as they sign more we will announce them to the public.”
When speaking on the company’s recent financial results, Wilson said, “We acquired KRSNA Minerals to bring in assets, revenues and profits to the company to increase shareholder value which we now have done. Our goal is to meet all the requirements to become a Nasdaq small cap company and with these fourth quarter revenues and profits we are well on our way.” That in mind, it looks like the company’s acquisition met the IMD’s expectations.
In addition to the news of this massive purchase from a Hong Kong-based company, IMD companies also recently launched its certified organic Nutra Pro white chocolate raspberry hemp energy protein bar, which could help to increase the company’s profits. This was the company’s first bar launched in the Nutra Pro Product line of hemp energy bars. The company still plans to launch additional hemp-based products in the future. With the increasing demand for hemp-based foods, due to their nutritional benefits, the company could grow its earnings and profits with these products.
According to IMD Companies CEO, “We are very excited to launch our first bar, the Nutra Pro White Chocolate Raspberry Hemp Energy Protein Bar, is available to purchase on our website. We are committed to providing high quality hemp products to our customers and feel that these bars are great tasting and of the highest quality, certified organic, and gluten free.”
IMD Companies Inc has been up significantly recently, and it could continue its rise with these recent developments. The new purchase order for Magnesia Chrome powder should boost the company’s profits during this fiscal year. Moreover, its release of its new product in its Nutra Pro Product Line should also boost the company’s earnings. Consequently, this should push the ICBU higher. With all this recent news in ICBU, you do not want to miss a beat because this stock could continue to move higher. We’ve already seen it up over 20%, and it could keep going up. You could stay up to date on ICBU and any news developments by simply entering your email address below, all for the price of nothing.