Global investment holding company, Starfleet Innotech Inc (OTCMKTS:SFIO), focuses on innovation through disruptive collaborations across three key industries: Real Estate, Technology, and Food and Beverage. The company has a robust presence across Australia, New Zealand, Malaysia, the United Arab Emirates, the Philippines, and the United States. The company makes strategic investments in high-growth businesses, building synergies across its diverse portfolio to give maximum shareholder value. Driven by innovation, guided by tradition, and enabled by collaboration, the company is on a hyper-growth path toward building a thriving global business ecosystem.
On Wednesday, SFIO stock slid 15% to $0.0141 with more than 2.58 million shares, compared to its average volume of 1.49 million shares. The stock moved within a range of $0.0140 – 0.0200 after opening trade at $0.0170.
Starfleet Innotech Signs LOI to Acquire PPM Toys
Starfleet Innotech on June 29, 2022, entered into an agreement with PPM Toys, a North America-based toy manufacturing and licensing powerhouse. The two will jointly explore an acquisition for global growth efforts. The two have formalized with a signed Letter of Intent for supporting continued growth into international markets. This will be done through traditional channels and e-commerce and non-fungible tokens. Revenues from the initiatives will be $2.7 million in 2022, witnessing a growth of $8 million in 2023.
PPM Toys, a US-based B2B company, with headquarters in Mexico and offices in Hong Kong, specializes in the commercialization, development as well as distribution of toys. The firm has led the field for over three and half decades generating more than $100 million in revenue and selling seventy-five million toys for brands. They include Tonka, Peanuts, Barbie (Mattel), Hasbro properties as well as Warner Brothers properties.
PPM has giants like Amazon, Walmart, Liverpool, Mercado Libre, and Coppel (Mexico’s largest department store chain) amongst its clients. Studies from Rockville Research show that in the last few years, the world toy industry has seen a high surge in market penetration of licensed toys. Most of the developed markets see a third of their sales from licensing agreements. It is expected that the global toys industry is expected to reach a valuation of $249.6 billion by 2027.
Richard De Lima, Chief Investment Officer of SFIO said that the company is much impressed with PPM Toys’ 35-year history in the industry. Lima added that the company is confident that its presence in multiple regional markets and tech development capacities will facilitate the growth.
Jeths Lacson, CEO of Starfleet Innotech said that PPM Toys is in the perfect position for bringing expertise to commercializing high-quality lines into the metaverse.
“We are deeply impressed with PPM Toys’ 35-year history in the toy industry, manufacturing and licensing popular toy lines from the world’s top brands. We are confident that our presence in multiple regional markets, as well as our tech development capacities, will help the company grow even further,” said Richard De Lima, Chief Investment Officer of SFIO.
SFIO stock is trading below the 20-Day and 50-Day Moving averages of $0.0182 and $0.0278 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0365.