CRESCO, PA--(Marketwired - Apr 11, 2017) - Net Savings Link, Inc. (OTC: NSAV) is pleased to announce that the Company will release financial statements for Shanghai Hua Si Tai Medical Consultation Company Limited (Shanghai) before end of market today. Highlights show a significant increase in profits with what execs believe to be a sustainable trend toward assertive growth for 2017 and beyond.
For the fiscal year 2016, Shanghai posted a net profit of $ 165,000. U.S.D., compared to the fiscal year 2015, when Shanghai posted a net loss of $ 100,000. U.S.D.
Operating income for fiscal year 2016 was $ 690,000. U.S.D. The Company attributes Shanghai's turnaround to cost cutting and improved efficiency, as it desired to enter the U.S. public markets. The Company believes that under the guidance of NSAV and its management, Shanghai's growth can accelerate to even greater levels. The Company converted the profit and operating figures into U.S. dollars from Chinese RMB and the financial statements will be audited by the Company's U.S. auditor.
The complete financial statements will be posted on the Company's Twitter account and Facebook page before end of market today (4pm EDT)
Last week, NSAV agreed in principle to acquire Chinese medical software company, Shanghai Hua Si Tai Medical Consultation Company Limited, which owns and operates Shanghai based Vital Strategic Research Institute (VSRI). VSRI is a medical research firm with a long history of expertise in design, clinical trials and global research. The Company sees VSRI as a major opportunity in the world's largest country and second largest market. NSAV also sees a valuable synergy between VSRI and its own medical cannabis technology business. VSRI has websites in both English and Chinese.
The Company feels that by acquiring VSRI it will open up the immense Chinese medical and medical cannabis markets to NSAV. Chinese entities hold an estimated half of the worldwide patents for cannabis and hemp. The Company also believes that because it is a public company, it can greatly assist VSRI grow and become even more prominent on the global stage than it already is.
James Tilton, president of NSAV stated, "I am extremely pleased that we were able to release these financial statements even earlier than expected. It is rare that one can find a company which is already very profitable, has so much potential for growth and a great value. I consider myself and all NSAV shareholders extremely fortunate that we were able to locate this precious gem. As I have promised, solid acquisitions will be the key to our Company's growth."
Mr. Tilton went on to state, "I am fully aware from the dozens of shareholder emails and Tweets I received, that bringing NSAV current on its SEC filings is priority number one. I can assure all of you that it is my top priority as well. Unfortunately, I inherited an unexpectedly difficult situation from the previous management and it has caused a delay in bringing NSAV current. I am on top of this and I will fulfill my pledge to have the SEC filings completed very soon."
NSAV's vision is the establishment of a fully integrated technology company that provides turnkey technological solutions to the medical cannabis industry, as well as other areas of the medical industry. Over time, the Company plans to provide a wide range of services such as software solutions, e-commerce, advisory services, financial services, patents and trademarks and information technology.
The NSAV Twitter account can be accessed at https://twitter.com/NSAV_MJTechCo
The NSAV Facebook account can be accessed at https://www.facebook.com/Net-Savings-Link-Inc-768628693317257/
This press release contains certain 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, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of Net Savings Link, Inc. to accomplish its stated plan of business. Net Savings Link, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward- looking statements included herein, the inclusion of such information should not be regarded as a representation by Net Savings Link, Inc. or any other person.