LOS ANGELES, August 14, 2020 (GLOBE NEWSWIRE) – Nova LifeStyle, Inc. (NASDAQ: NVFY) (“Nova LifeStyle” or “Company”) announced its monetary effects for the quarter ending June 30, 2020.
Key monetary aspects:
Operational effects for the 3 months ended June 30, 2020
Operational effects for the six months ended June 30, 2020
Some of our clients, who had particularly suspended or reduced their activities in reaction to the pandemic, have resumed operations; and we work with them, our brands and our shipping providers to verify and ensure that we will satisfy the wishes of our consumers as our consumers strive to take their operations to pre-pandemic levels. »
Moreover, in these difficult times when so many corporations are suffering the significant effects on their working capital caused by the pandemic, we continue to gain merit from a solid balance sheet. As of June 30, 2020, our monetary balance and monetary equivalents were $9,470,891 and our working capital (existing assets minus existing liabilities) $65,223,270. Therefore, we are in a solid position to take advantage of the larger market call that we anticipate once the pandemic has subsided “.
“We continue to focus on expanding our sales channels and preparing our sales and marketing for long-term opportunities. While there is significant uncertainty, we are beginning to see symptoms of a possible uptick in the last component of the year,” she concluded. Justice.
About Nova LifeStyle
Visit Nova LifeStyle on www.NovaLifeStyle.com.
Forward-looking statements
This press release would likely involve 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, including, among other things, our ability to fully resume our operations and maintain good monetary health, our expectations of long-term expansion. All statements other than statements of old facts are or possibly forward-looking statements. In some cases, forward-looking statements would possibly be known through the use of forward-looking terms such as “anticipate,” “estimate,” “believe,” “continue,” “could,” “pretend,” “possibly,” “” plan, “potential,” “predict,” “should,” “will,” “expect,” “target,” “projection,” “forecast,” “target,” “orientation,” “perspective,” “effort,” “Objective”, “”path”, “concentration”, “”work for “,” “attempt”,” continue “or the negative of those or other comparable terms.” However, the absence of such words does not mean that the statements are not for the future. These forward-looking statements are based on secure assumptions and analyses that we have made based on our delight and belief in old trends, existing situations and long-term expected developments, as well as other points we deem appropriate in the circumstances. .
Investor relations
Andrew Barwicki
516-662-9461