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ABT Announces Successful Completion of Audit 2014 & 2015

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Pasadena, California, Dec. 19, 2016 (GLOBE NEWSWIRE) -- ABT Holdings (OTC Pink: ABOT), at times, referred to as "ABT or the "Company," today announced that it had completed the audit of its financial statements for years ended December 31, 2014, and 2015 (the "Statements"). This audit is the first step in becoming a reporting company with the Securities and Exchange Commission ("SEC"). Dbbmckennon, who are the Company's independent registered public accounting firm conducted the audit.

 

Readers of the Statements should be mindful that the 2015 Statements reflect the results of operations after the change in business direction of the Company where the Company acquired the AutoClaim business and Scoobeez in May 2015, and August 2015 respectively. The full financial impact of twelve months of ABT's businesses is expected to be realized in fiscal 2016. The Company recorded gross revenue for fiscal 2015 in excess of $5.0 million with gross margins of over $1.3 million. Scoobeez's strong dominance as an On Demand door-to-door logistics and delivery service company fuels this financial turnaround. 

 

Shahan Ohanessian, ABT's CEO commented, "The Company made a paradigm shift in its business strategy in the middle of 2015. This change in strategy resulted in the acquisition, development, and growth of ABT's businesses. Our exceptional growth is due to the continued effort of our senior leadership and superior execution by our operations." Shahan further added, "As we complete 2016, we expect to generate well over $20 million in revenue, and we plan to expand our geographic footprint both in the continental United States and internationally."

 

The Statements are available for review at OTC Markets website.

 

For more details on ABT Holdings, click here.

For more details on AutoClaim App, click here.

For more details on Scoobeez, click here.

For more Company information, click here.

 

About the Company

ABT Holdings, Inc., is a diversified holding company engaged in acquiring, developing and growing various businesses that provide strategic advantages, generate attractive returns and significant free cash flow to maximize the value of our shareholders.

 

About Scoobeez

Based in Los Angeles, California, Scoobeez is a "Real Time Delivery" and "Same Day" door to door delivery service company that facilitates same day deliveries for enterprise clients. Scoobeez' value proposition includes utilization of technologies, exceptional customer experience, and logistic creativity to deliver products within the shortest possible time-frame. For more information, please visit Company's website, click here. You may connect and follow Scoobeez on FacebookTwitter, and Instagram.

 

Safe Harbor / Forward-Looking Statements

Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as "anticipate," "believe," "forecast," "estimate," "expect," and "intend," among others. These forward-looking statements are based on the Company's current expectations, and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, substantial competition; our possible need for financing; uncertainties of technological changes; and dependence upon third parties. The Company does not undertake an obligation to update or revise any forward-looking statement. All of the Company's forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date hereof.

Imran Firoz, CFO ABT Holdings, Inc. OTC PINK: ABOT 225 S Lake Avenue | Suite 300 | Pasadena | CA 91101 T: +1 818.302.0100 E: ir@abtholdings.com

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