RENAVOTIO, INC. (RIII)
CLOSES PURCHASE OF ITS $1.7 MILLION DOLLAR ORDER AND ACQUIRES
ANOTHER $2.1 MILLION DOLLARS OF PPE MEDICAL EXAMINATION
GLOVES
Tulsa, OK
-- February 24, 2022 -- InvestorsHub NewsWire -- Renavotio, Inc.
(OTCQB:
RIII) (the "Company"), an infrastructure investment company
focused on opportunities, including medical protective equipment,
5G, ISP, utility construction, utility management, IoT, water,
waste management technology, and related industries, announced that
is has consummated the sale of $1.7 million dollars of 100% Nitrile
medical examination gloves to an overseas client from its on-hand
inventory of Personal Protective Equipment
("PPE").
The conditions were met to complete the purchase order by paying a
balance of $1,502,204, thus completing the sale of the Company's
domestic glove inventory and increasing its cash position. The
Company's additional purchase of $2.1 Million dollars of additional
gloves allows it to fulfill an additional overseas order and
facilitate purchasing the balance of the Company's inventory of
medical gowns. Additionally, this transaction allows the Company to
continue to pay down its convertible debt, providing operating
capital to meet its planned infrastructure equipment purchases and
expanded management team
acquisitions.
The Company continues to move forward to complete the filing of its
amended 2020 10-K and its 9/30/21 Form 10Q. The Company is
providing all information to its auditors and projects and plans to
be current in its filings by the end of March with projected
trading back on the OTC Bulletin Board pending approval by OTC
Markets and FINRA.
Billy Robinson, the CEO and Chairman of Renovation commented, "This
sale and the $2.1 Million purchase of additional inventory
completes the sale of all of our domestic inventory and facilitates
the purchase and the balance of our Gown inventory. We continue to
complete our reaudit and filings to facilitate our being back and
trading on the OTC Markets Bulletin Board. We continue to seek
opportunities to generate funds to pay down our debt and to make
compete upgrades to our infrastructure equipment and complete the
key management hiring to take advantage of upcoming
opportunities."
About Renavotio, Inc.
Renavotio, Inc. (OTCQB:
RIII) an infrastructure investment company focused on
opportunities, including medical protective equipment, 5G, ISP,
utility construction, utility management, the internet of all
things, ("IoT"), water, waste management technology, and related
industries. The Company's wholly owned subsidiary, Renavotio
Infratech, Inc. ("RII"), includes business and acquisition
strategies concentrating on medical protective equipment and
infrastructure with utility construction and consulting/operational
agreements with small towns or county CO-OPS that operate their own
water and sewer systems, providing long-term savings, utilizing
smart-utility monitoring, and dedicated engineering and service
personnel. These platforms capture utility data from hand-held GPS
devices or in-place sensors, with planned use of drones to identify
waste contamination, leak detection, and topographic underground
utility installation planning. RII's wholly owned subsidiary,
Utility Management Corp, is a holding company focused on
infrastructure, 5G, utility construction, utility management, IoT,
water and waste management technology, and related industries.
Utility Management Corp's subsidiary, Utility Management and
Construction (UMCCO) is an engineering and smart utility management
company that provides a one-stop solution to rural communities to
reduce the consumption of electricity, data, natural gas, and water
utilities for commercial, industrial and municipal end users.
UMCCO's unique approach creates immediate bottom-line savings for
its clients, by providing engineering, planning, permitting and
installation through their second wholly owned subsidiary, Cross-Bo
Construction, which specializes in water, sewer, Telcom, and 5G
design and installation, establishing a long-term value proposition
while also achieving respective sustainability goals. www.umcco.com.
For additional information on Renavotio, please visit: www.renavotio.com
To receive Renavotio updates via e-mail, subscribe at: https://renavotio.com/contact/
Renavotio is on Twitter. Sign up to follow @Renavotio at: http://twitter.com/Renavotio
Renavotio is on Stocktwits. Sign up to follow @Renavotio at:
https://stocktwits.com/symbol/RIII
Forward Looking Statement
This news release includes certain "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities and Exchange Act of
1934, as amended. Forward-looking statements are necessarily based
upon estimates and assumptions that, while considered reasonable,
are subject to known and unknown risks, uncertainties, and other
factors may cause the actual results and future events to differ
materially from those expressed or implied by such forward-looking
statements. Such factors include general business, economic,
competitive, regulatory, markets and other conditions, political
and social uncertainties. There can be no assurance that such
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements. No information in this news release
should be construed as any indication whatsoever of the Company's
future stock price, revenues, or results of operations. . The
Company disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by law.
Investor Contact:
Renavotio, Inc.
601 South Boulder Ave.
Suite 600 Tulsa, OK 74119
(888) 928-1312
Email: brobinson@renavotio.com