Innovest Global Inc (OTCMKTS:IVST) shares have been acting extremely well. One look at recent catalysts helps to explain why. For example, the company just announced that Chagrin Safety Supply (CSS), an Innovest Global Company, just closed a four-year contract extension providing safety supplies to the University Hospital and Case Medical Center administration buildings in Cleveland, Ohio.
According to the release, this contract will further boost revenue for Innovest’s Commercial & Industrial Division and creates a stepping stone for additional business in 2019. CSS revenue for 2018 exceeds 2017 revenue, and has benefited from larger contracts, including the recently announced six-figure order of HAZMAT boots delivered to the United States Navy. For Innovest’s acquired companies, 2018 has been marked by high-revenue contracts with large and very notable clients. Increased revenue after acquisition is a result of both successful integration into the Innovest business model, and Innovest being very appealing as a vendor to large clients.
Innovest Global Inc (OTCMKTS:IVST) casts itself as a diversified holding company, focuses on identifying and acquisition of qualified mineral prospects.
This is a diversified holding company with operations in commercial and industrial products and services, energy, biotechnology, and health services. Innovest Global utilizes novel technology and marketing to efficiently acquire customers.
The company’s primary growth strategy is to acquire existing companies in a select few industries, and attract new customers in cost effective ways. Currently, it has a Commercial & Industrial Division, and a Biotechnology & Health Services Division.
The company recently took a strong stake in StemVax Therapeutics, a Translational Biotechnology Company that develops novel therapies for brain tumor patients. The company focuses its efforts on developing immunotherapeutic approaches to treating patients with Glioblastoma Multiforme (GBM), a devastating brain cancer.
The company also focuses its research efforts on novel drug development to target Cancer Stem cells and other multi-resistant cancer cells. It seeks to “make a difference in patient’s lives. Bringing new beginnings to the market by developing novel therapeutics. Dr. Dwain Morris-Irvin, President of Innovest’s Biotech division is the StemVax founder and Chief Science Officer.”
Cedars-Sinai Medical Center is a non-profit hospital and academic health science center located in Los Angeles, California. They employ over 2,000 physicians and are considered one of the top hospitals and research organizations in the world. Dr. Irvin previously was one of their key contributors in the areas of research that he founded StemVax to pursue.
The company was formerly known as Aurum Resource and Asset Management, Inc. and changed its name to Innovest Global, Inc. in January 2017. Innovest Global, Inc. was incorporated in 1999 and is based in Las Vegas, Nevada.
We want to emphasize that this could be a very interesting stock to have on the radar right now. We started off by noting that IVST just hit the wires with the announcement that Chagrin Safety Supply (CSS), an Innovest Global Company, just closed a four-year contract extension providing safety supplies to the University Hospital and Case Medical Center administration buildings in Cleveland, Ohio.
Shares of the stock have powered higher over the past month, rallying roughly 36% in that time on strong overall action. Shares of IVST are now trading well above their major moving averages, which are rising in bull market fashion over the past year.
“Case Medical Center is a great client and I’m thrilled that since coming under the Innovest umbrella, they added two more facilities in addition to the buildings we already service. This contract represents the confidence and satisfaction of our supply agreement and I’m pleased that they have extended our relationship four years,” said Chagrin Safety Supply president, Bill Oler.
Innovest Global Inc (OTCMKTS:IVST) generated sales of $1.1M, according to information released in the company’s most recent quarterly financial report. That adds up to a sequential quarter-over-quarter growth on the top line. In addition, the company has $390K in cash sitting on the balance sheet.