SOURCE: Resort Savers

Resort Savers

June 21, 2016 11:36 ET

Resort Savers, Inc.'s Reports Fiscal First Quarter 2016 Results

Beijing Oil Products Subsidiary Delivers Revenue of Approximately $22 Million

SHENZHEN, CHINA--(Marketwired - Jun 21, 2016) - Resort Savers, Inc. (OTCQB: RSSV) (the "Company" or "RSSV"), a strategic investment and development company, today reported its quarterly results for the three months ended April 30, 2016, the Company's fiscal first quarter 2016.

Among the fiscal Q1 highlights is significant year-over-year revenue growth, up approximately $22 million, compared to no revenue in the quarter ended April 30, 2015. Beijing Yandong Tieshan Oil Products Co., Ltd. ("BYTOC"), acquired in late January 2016, the 51% owned oil products subsidiary of the Company's wholly-owned subsidiary, Xing Rui International Investments Holding Group Co., Ltd., contributed all of the revenue in the quarter.

Zhou Gui Bin said, "RSSV successfully transitioned BYTOC from private to a publicly held in Q1 2016 and the results suggest a turning point for both entities that will result in profits in the coming quarters and for the year. As mentioned in a previous announcement, and in accordance with the contract requirements, RSSV expects BYTOC to achieve sales revenue of RMB$600 million ($91.2 million USD) and profit of RMB$42 million ($6.37 million USD) for the full year 2016.

In addition to growing revenue, we are now cash flow positive and added 6 million to our net assets. RSSV's Houston-based subsidiary, Worx America, continues to advance and make headway in its mission to become a premier Robotics Company by refining its product line to improve speed and efficiency, while Amuli, our Beverage subsidiary continues its path to becoming a large producer of the health beverage drink Kvass. Amuli purchased equipment and is currently expanding its production facilities forecasted to generate sales and profits in 2016. In fact, the Company has been ordered to move its factory to a new location, a move paid for by the Chinese government.

The Company's Form 10-Q for the quarter ended April 30, 2016 was filed with the Securities and Exchange Commission on June 16, 2016.

About Resort Savers, Inc.

Resort Savers, Inc. is a strategic acquisition and development company focused on identifying and acquiring high demand, revenue-generating assets. The Company is currently developing and investing in the oil and gas industry and real estate development. For more information on Resort Savers, Inc. please visit http://www.resortsaversinc.com.

Forward-Looking Statements

Except for the historical matters contained herein, this release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this release that are not historical facts, including, without limitation, statements that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development, may be deemed to be forward-looking statements. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. These statements are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Readers are urged not to place undue reliance on the forward-looking statements, which speak only as of the date of this release. Except as may be required under applicable law, we assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release. This release should be read in conjunction with Resort Savers' Annual Report on Form 10-K and its other filings with the U.S Securities and Exchange Commission through the date of this release, which identifies important factors that could affect the forward-looking statements in this release.

Contact Information

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    Resort Savers, Inc.
    Rex Cheung
    Email Contact
    +1 (754) 800-4429