US Highland, Inc. (OTC PINK: UHLN) ("US Highland" or the "Company") is pleased to provide this corporate update and management discussion from Company CEO Josh Whitaker regarding the Company's recent progress and current growth strategy.
Josh Whitaker, CEO of US Highland, Inc., commented, "Since I joined US Highland in May 2014, we have made significant progress at streamlining company operations, evaluating our intellectual property, and re-energizing our business strategy. Focusing on clear milestones, objectives, and initiatives, we have started to achieve some of our goals and build momentum for a new corporate vision. With a clear path for growth and success planned out, we are confident that US Highland will continue to make measurable advances over the short and long term."
"As a publicly traded company, US Highland has many ongoing regulatory obligations that benefit the Company and its many stakeholders. We are now proud to say that several months of discussions with the Depository Trust Company (DTC) has opened the door for US Highland share certificates to be deposited directly with brokerage firms across the country and to have share transactions settled quickly in fully electronic form. In addition, the Company is now diligently working on completion of its 10-K Annual Report for 2014, which should be finalized within the next three weeks."
"From a current business perspective, after reviewing the state of the engine products sector and the funding required to bring our cutting edge engine designs to market, it became apparent that alternative options to generate revenue with the product line would be practical and beneficial to the long term growth of the Company. With this in mind, the decision has been made not to manufacture the current designs ourselves, but will instead actively pursue partners that are currently seeking pre-tested engine programs to license our technology and intellectual property for proprietary build projects. Potential revenues from this improved scenario would be generated on a per unit sales basis without incurring the direct cost of manufacturing and servicing the product."
"Moving forward, it was also apparent that important additions would be required to our product lineup to enhance our current business and to build a dynamic, diversified, and cash flow generating company within the growing powersports sector. To accomplish this, we have been actively seeking to acquire established consumer brands within the powersports sector that could immediately impact our bottom line. Several potential targets have already been identified for possible acquisition. We would like to replicate this business model to ultimately acquire 2-4 separate powersports brands over the next 12 months representing different categories with the powersports industry."
Whitaker concluded, "I look forward to announcing additional news of our progress on these new initiatives in the near future."
US Highland, Inc. is a fully reporting company with the Securities and Exchange Commission (SEC). The Company's regulatory filings can be viewed at http://bit.ly/UHLN_SEC_Filings.