CHARLOTTE, N.C., May 08, 2020 (GLOBE NEWSWIRE) — Cavu Resources is very thankful to announce that the impact of Covid-19 on Cavu Resources has been minimal, only causing short delays. Over the past 8 weeks, we have made the necessary adjustments to overcome the challenges from Covid-19.
Covid-19 Social Distancing had a direct impact on the launch of SoKu. Our initial launch strategy involved Universities, Festivals, Social Events, Targeted Bars and Clubs, all of which were put on hold only weeks before our initial scheduled launch on 4/20.
We have re-engineered our launch strategy and are finalizing plans. Due to the creation of the “Zoom” / online performance phenomena caused by the Quarantine, our launch is now positioned to achieve greater success while being more efficient. Please see our attached updated SoKu Launch Strategy PDF.
We are in the final stages and will TWEET our progress as we anticipate submitting SoKu to the Apple Appstore for approval in a matter of weeks. For those interested in the SoKu updates, follow me on Twitter at @BobSilverCAVR.
Covid-19 and its impact on our economy resulted in the delay of multiple deals scheduled to close in Q1. Fortunately, the impact is only temporary as one closing, valued at $2,580,000.00 is rescheduled for Q2, May 30, 2020.
On another exciting note, as we are working hard to overcome the challenges of Covid-19, Sinacori Builders has secured a contract with National Builder, Toll Brothers. The sale of 129 lots to Toll Brothers for $5,805,000.00 is scheduled to close on September 15, 2020.
We will be announcing our Q1 revenue in the coming weeks as we finalize our quarterly report. We will also provide a preliminary Q2 forecast.
Many great things have been done. We have many exciting things to share in the coming weeks and months. We are attracting industry experts, in discussions with leading investment firms, have great revenue producing projects to announce, and an incredible app to launch.
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, among other thing, statements regarding the offering, the expected gross proceeds, the expected use of proceeds and the expected closing of the offering. Any forward-looking statements contained herein are based on current expectations and are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company’s ability to develop, market and sell its products; the expected benefits and efficacy of the Company’s products; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and, the Company’s business, research, product development, and marketing and distribution plans and strategies.
A PDF accompanying this announcement is available at http://ml.globenewswire.com/Resource/Download/6cea2bfa-7a10-4e71-9a92-29704a564c01
READ MORE: http://www.globenewswire.com/news-release/2020/05/08/2030530/0/en/CAVU-Resources-Inc-Overcomes-COVID-19-Challenges-and-Secures-a-5-8-Million-Dollar-Contract-With-National-Builder-To-Close-in-FY2020.html