SARASOTA, FL--(Marketwired - Oct 18, 2016) - Kali, Inc. (OTC PINK: KALY) announced today that it has identified two potential acquisition targets to expand its yacht maintenance operations. Due to the increase in business, the Company is looking to purchase a yacht maintenance and repair facility/storage yard to accommodate the needs of its growing client list.
JR Bott, the President of Wave Marine & Yacht Services, a subsidiary of Kali Inc., is leading this effort and has visited two facilities that meet the Company's requirements. "Our plan is to become a lifestyle company that offers services and amenities to best serve the boating community. We are growing at an accelerated pace and are thrilled by our expanding client list. We are moving into the due diligence phase with plans of closing on a facility to support our growth within the next sixty days."
The outlook for the marine market continues to be positive. According to the Marine Fabricator 2016 State of the Industry report, 2016 boat production is expected to grow 8.8 percent compared to 2015. In 2015, the United States continued on the path to sustained economic improvement, realizing a greatly improved job market, increased consumer confidence and consumer spending over two percent. It has been reported that more people in the U.S. are taking to the water with 90 million people participating in recreational boating at least once in 2015.
"The Boat Dealership and Repair Industry alone has a market size of $20 billion in revenue with no clear dominate players. As disposable income continues to increase, industry revenue is expected to rise. We are working aggressively to position Kali, Inc. as a leading player in this market. The acquisition of a maintenance and repair facility will prime us for increased revenue growth. With the additional services and projects that we will be able to accommodate, we are projecting an increase of revenue of $284,000 per month," stated Charles Yawn, President of Kali, Inc.
About Kali, Inc.
Kali, Inc. is a marketing and development company focused on small to medium sized market cap companies. Wave Marine & Yacht Services. a wholly subsidiary, of Kali, Inc., is a full-service yacht maintenance company which provides solutions for all aspects of the recreational boating lifestyle.
Forward-Looking Statements - This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that could cause future results to differ materially from the forward-looking statements. You should consider these factors in evaluating the statements herein, and not rely on such statements. The forward-looking statements in this release are made as of the date hereof and Kali, Inc. undertakes no obligation to update such statements.