Majic Wheels’ results highlight significant achievements, thus solidifying its strong foundation for growth in the coming year.
“We are extremely happy with the performance of
Highlights from the Annual Disclosure posted today:
- The Company’s Payables have increased in this Annual Disclosure to
$2,746,671 as compared to last year’s$1,622,675 . This is due to increased business activity. - Net Income has jumped to
$5,359,166 , compared to$680,617 in the previous Annual Disclosure. - Long Term Liabilities of
$837,519 from the Annual Disclosure last year were reduced to$0.00 in the current year. - The Total Assets of the Company equal
$236,407,041 , includingGoodwill .
Three notable achievements for MJWL over the past 12 months include:
- According to its plan, MJWL completed its acquisition of
CGCX Group and The Bamboo Wellness. - Completion of the acquisition of PCEX is imminent. The completion was slightly delayed due to over-complex regulatory issues, but these are now resolved.
- MJWL’s global footprint has continued to grow through its introduction of CGCX tokens to the Indian market via our partner and soon-to-be subsidiary.
Sathayanandham Anguswami, COO of
The Company has not concluded the audit with the PCAOB registered auditor for
MJWL invites shareholders and investors to follow its Twitter handle (@MajicCorp) for regular updates.
For further information, please contact ir@majiccorp.co
ABOUT
For more information about the Company, please visit:
OTC Markets Profile: https://www.otcmarkets.com/stock/MJWL/overview
Website: https://majiccorp.co/
Twitter: https://twitter.com/MajicCorp
Safe Harbour Statement:
In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company's future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company's business units or the market price of its common stock. Additional factors that could cause actual results to differ.
Source:
2022 GlobeNewswire, Inc., source