Costas, Inc. Year in Review (2022) and 2023 Business Strategy Report
ORLANDO, FL / ACCESSWIRE / January 31, 2023 / Costas, Inc. (OTC PINK:CSSI) (“CSSI” or “the Business”), accomplishing business as Normal Dental Labs Inc., reviews 2022 Corporation milestones in the yr next the December 2021 appointment of CEO and managing shareholder, Mr. James Brooks.
Just over two months right after assuming handle of CSSI, in March 2022, the Firm obtained specific property of the frequent management entity, Conventional Dental Labs (SDL). SDL’s business strategy was to receive existing dental labs in the private sector, and then consolidate those labs regionally into 1 bigger facility. The Organization acquired the commercialization-completely ready business enterprise product, along with other IP which include tradenames, logos and internet site.
“Business consolidation results in economies of scale, and that can make the change involving survival and flourishing in this marketplace,” said Brooks, CSSI Chief Executive Officer.
The buy of pick belongings of SDL closed in May of 2022, solidifying the Company’s new small business focus on the dental lab sector. Concurrent with the closing of the SDL acquisition, the Firm’s mandate grew to become the invest in of income-flowing and financially rewarding dental lab corporations. The dental lab business is approximated to be a $10B industry in the US alone in 2022 (resource: Grandview Investigate, Aug. 2021), and is increasing steadily.
The business model obtained from SDL integrated produced branding, and a specific company approach to aid the acquisition of tiny to medium-sized dental labs, of which there are thousands in the United States. Identical types have been extensively employed in the medical and dental clinic industries above the past 15 years, but dental laboratories by themselves continue to be highly fragmented.
Also in 2022, the Enterprise established its headquarters in Orlando, Florida, main to our August 2022 acquisition of Prime Dental Lab, the to start with of what the Company hopes will be numerous this kind of acquisitions in the region. The acquisition of Primary Dental Lab resulted in the Firm’s first documented earnings in 20 a long time, and as the Company’s strategy is to proceed getting very similar labs, the Corporation count on to see incrementally raising profits with each new lab acquisition all through 2023 and outside of.
In addition to reporting the Firm’s first income in Q3 2022, in Q4 the Business engaged an impartial registered general public accounting company, and subsequently filed a registration statement on Type S-1 with the Securities and Trade Commission in December 2022. Community transparency is a cornerstone of our development strategy, and will help the Company as it usually takes steps to increase added cash in 2023 to receive added income building dental labs in the U.S.
Our ahead-hunting strategies involve the order of up to 20 labs within just the 2023 calendar calendar year, even though setting up to consolidate these labs into a person huge, owned and operated facility in Orlando, Florida, exactly where the Firm is now headquartered. Administration aim will be on further lab acquisitions every single quarter on a case-by-case foundation as the Corporation strives to obtain our 2023 targets.
The Organization will require a powerful group to accomplish its goals, and is at this time in the procedure of interviewing important candidates to broaden management and board, with the target of an impartial board of directors for the duration of fiscal 2023. Top of brain is the retention of a powerful management group, together with a Main Economical Officer, and quite a few individuals with encounter in operations and administration of a dental lab output facility in buy to placement ourselves for the prepared opening of our first owned and operated consolidated lab facility.
Brooks added, “In excess of the previous 12 months CSSI has changed in a basic way, with new income creating operations and a stable functioning prepare to make it possible for rapid growth in the dental lab marketplace. As our growth options come to fruition, we assume the Corporation will grow to be a important competitor in the dental lab field.”
Costas, Inc. (CSSI), now doing business as Common Dental Labs Inc., is a corporation engaged in getting, getting, and building dental labs all over the United States. The organization ideas to purchase impartial labs looking to exit the market or who may be interested in retirement. Obtaining labs will be the aim of our progress method. Labs will be consolidated into 1 regionally central lab, and continue to run, including earnings to the company’s money assertion. All North American markets with populations over 1 million are targets. The company is headquartered in Orlando, Florida.
This press release and the statements of reps of Costas, Inc. (the “Organization”) related thereto include, or may perhaps have, among the other points, “forward-on the lookout statements” in just the this means of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historic simple fact included herein are “forward-seeking statements,” which includes any other statements of non-historic data. These ahead-looking statements are topic to sizeable known and mysterious dangers and uncertainties and are usually identified by the use of ahead-searching terminology these types of as “steerage,” “projects,” “may possibly,” “could,” “would,” “ought to,” “thinks,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “ultimately” or very similar expressions. All ahead-wanting statements contain material assumptions, challenges and uncertainties, and the expectations contained in this sort of statements may perhaps show to be incorrect. Buyers should really not area undue reliance on these ahead-searching statements, which discuss only as of the day of this press launch. The firm’s true effects (including, with no limitation, Costas’ means to advance its company, deliver profits and profit and function as a public corporation) could vary materially from all those mentioned or anticipated in these ahead-wanting statements as a result of a selection of aspects, such as aspects and threats talked about in the periodic studies that the business data files with OTC Markets (Pink Sheets). All forward-hunting statements attributable to the company or persons performing on its behalf are expressly competent in their entirety by these components. The corporation undertakes no obligation to update these forward-on the lookout statements other than as demanded by law.
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