McapMediaWire -- All American Gold Corp. (OTC Pink: AAGC) is excited to disclose that Hollywood Star Cuts, AAGC’s Operating Company, is now conducting business in an operating profit.
Hollywood Star Cuts, a rapidly growing chain of Hollywood Themed Family Hair Salons, has accomplished the objective of reaching operational profitability quicker than previously anticipated.
Throughout 2021 and 2022, Hollywood Star Cuts has been concentrating on creating, developing and growing Company owned Hair Salons in the greater Boise area. As of the beginning of February 2023, Hollywood Star Cuts is operating three locations in the Boise area with a fourth “Mega Production Studio” set to open the first week of March 2023.
Hollywood Star Cuts had previously anticipated reaching profitability after the first calendar quarter of 2023. The feat of reaching profitability has been accomplished months earlier than expected.
Hollywood Star Cuts will no longer be utilizing the majority of the Company’s resources to develop more Company-owned locations for the remainder of 2023. Instead, the Company will be focusing its efforts on the development of a franchise model Nationally, creating flourishing revenues without the massive expenditure of Company funds.
Hollywood Star Cuts has already begun the build-out of franchise locations in rapidly growing areas such as Florida and Texas.
AAGC and Hollywood Star Cuts intend to conserve revenues and profits accrued throughout 2023 and develop a “War Chest” for accelerated growth in the future and eliminating the future need for outside financing and potentially toxic financing.
On February 2nd, 2023, Hollywood Star Cuts conducted a Shareholder Conference Call to discuss the accomplishments of 2022 and the outlook for 2023 and beyond. There were 177 people listening live. The call included a Question-and-Answer period after the Company remarks. Hollywood Star Cuts would like to thank all who attended the live call and those who asked fantastic questions.
Topics discussed: Accomplishments 2022
- Mission of Hollywood Star Cuts
- Vision for 2023 and beyond
- Growth for 2023 and beyond
- Challenges for Growth (Immediate and Long Term)
Hollywood Star Cuts invites everyone to listen to the playback and hear the accomplishments in detail at their leisure. The call-in number is: (267) 807-9603 Access Code: 526-855-601.
The growth model for Hollywood Star Cuts includes both Corporate-owned stores as well as Franchise stores in specific markets. Updates and reminders will be posted on Twitter, as well as periodic public Press Releases.
Hollywood Star Cuts is dedicated to offering the very best in service and experience and is committed to becoming a leader in the multi-billion-dollar and recession-resilient Haircare and Beauty industry. Hollywood Star Cuts would like to thank all their loyal customers, their hard-working staff members, and all who support the Company. Hollywood Star Cuts is committed to expand through organic growth with Company-owned stores as well as utilizing franchise partners nationally.
All American Gold Corp. invites the public to follow us on Twitter @HStarcuts as most updates, and communication will be conducted there.
The public is also invited to follow us on Facebook and online at www.hollywoodstarcuts.com.
Forward-Looking Statement Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.
View source version on newsdirect.com: https://newsdirect.com/news/hollywood-star-cuts-is-in-the-black-957958273