{"id":45624,"date":"2016-05-11T13:51:00","date_gmt":"2016-05-11T13:00:00","guid":{"rendered":"http:\/\/hispanicprwire.com\/fuego-enterprises-inc-previews-financial-results-ahead-of-salt-global-investment-conference-celebrates-launch-of-oncuba-travel\/"},"modified":"2016-05-11T13:52:05","modified_gmt":"2016-05-11T17:52:05","slug":"fuego-enterprises-inc-ofrece-avance-de-resultados-financieros-antes-de-la-conferencia-de-inversion-global-salt-y-celebra-el-lanzamiento-de-oncuba-travel","status":"publish","type":"post","link":"https:\/\/hispanicprwire.com\/en\/fuego-enterprises-inc-ofrece-avance-de-resultados-financieros-antes-de-la-conferencia-de-inversion-global-salt-y-celebra-el-lanzamiento-de-oncuba-travel\/","title":{"rendered":"Fuego Enterprises, Inc. Previews Financial Results Ahead of SALT Global Investment Conference; Celebrates Launch of OnCuba Travel"},"content":{"rendered":"<p><\/p>\n<style type=\"text\/css\"><![CDATA[\n\/* Style Definitions *\/\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n]]><\/style>\n<div class=\"xn-content\">\n<p><span class=\"xn-location\">MIAMI<\/span>, <span class=\"xn-chron\">May 11, 2016<\/span> \/PRNewswire-HISPANIC PR WIRE\/ &#8212; Fuego Enterprises, Inc. (OTCUS: FUGI), a diversified holdings company focused on business opportunities in <span class=\"xn-location\">Cuba<\/span> and <span class=\"xn-location\">the United States<\/span>, is pleased to announce significant growth in several business ventures fueled by a rising surge of interest in the Cuban culture and economy.<\/p>\n<p>Highlights of our recent operations include the following:<\/p>\n<ul type=\"disc\">\n<li>The successful launch of our new travel agency, <b>OnCuba Travel<\/b>, offering guided US-Cuba travel programs that are compliant with both U.S. and Cuban government regulations <\/li>\n<li>Publication of <b>&#8220;OnCuba Real Estate,&#8221;<\/b> the first magazine specializing in the island&#8217;s emerging Real Estate market (<a href=\"http:\/\/oncubamagazine.com\/real-estate\" target=\"_blank\" rel=\"nofollow\">http:\/\/oncubamagazine.com\/real-estate<\/a>) <\/li>\n<li>Expansion of our <b>OnCuba media platform,<\/b> the leading cross-over media solution for both the U.S. and <span class=\"xn-location\">Cuba<\/span>, to meet the demand of global advertisers interested in positioning their brands, products and services to their markets of interest <\/li>\n<li>Significant international press and visibility generated by the global reputation of Fuego CEO Mr. <span class=\"xn-person\">Hugo Cancio<\/span> as a preeminent advisor on U.S.-Cuban political and economic relations <\/li>\n<li>Enterprise-wide initiative to be more transparent and keep our shareholders more informed about operations <\/li>\n<\/ul>\n<p>Up-to-date financial reports from Fuego Enterprises (FUGI) are available on <a href=\"http:\/\/www.otcmarkets.com\/\" target=\"_blank\" rel=\"nofollow\">http:\/\/www.otcmarkets.com<\/a>. Highlights of financial results for the 9-month period ended <span class=\"xn-chron\">February 29, 2016<\/span> vs. the same period in 2015 include: <\/p>\n<ul type=\"disc\">\n<li>1577% increase in revenues <\/li>\n<li>Net Income positive (first time since 2010) <\/li>\n<li>Cost of Revenues has remained proportional to revenues <\/li>\n<li>SG&amp;A Expense Ratio declined from 262% to 34% <\/li>\n<li>Diversified revenue expansion across both existing and new business lines <\/li>\n<li>763% increase in advertising revenues for OnCuba magazine and digital platform <\/li>\n<li>1.8 million shares sold to public, with proceeds of <span class=\"xn-money\">$1,083,175<\/span>, which will help bolster Fuego&#8217;s further expansion into target areas and markets<\/li>\n<\/ul>\n<p>&#8220;Our solid financial performance completes a great chapter in positioning our company for a higher growth trajectory in the near future, and I&#8217;m very excited about the progress in our emerging businesses,&#8221; states Chief Financial Officer <span class=\"xn-person\">Ed Steinback<\/span>.<\/p>\n<p>Fuego Enterprises (FUGI) attributes the firm&#8217;s gains to improved relations between <span class=\"xn-location\">Cuba<\/span> and the U.S. and the resulting boom in investment opportunities. <span class=\"xn-location\">Cuba<\/span> has instituted recent economic reforms to stimulate private sector growth, and to provide a secure, transparent legal framework for foreign investors to participate in Cuban entities. Concurrently, relations between <span class=\"xn-location\">Cuba<\/span> and <span class=\"xn-location\">the United States<\/span> have been rapidly normalizing with the introduction of new trade and travel regulations and the restoration of diplomatic ties.<\/p>\n<p>&#8220;Now that the Cuban economy is opening up to investment from the U.S., we feel the time is right to aggressively move our company forward,&#8221; states Fuego CEO <span class=\"xn-person\">Hugo Cancio<\/span>. &#8220;We have worked toward this for many years, and we&#8217;re pleased to demonstrate our commitment to our shareholders and to the people of <span class=\"xn-location\">Cuba<\/span> and <span class=\"xn-location\">the United States<\/span> by showing great progress toward our goals,&#8221; he adds.<\/p>\n<p>An intermediary sought after by American investors, politicians, and celebrities who are going to <span class=\"xn-location\">Cuba<\/span>, Mr. Cancio is a featured panelist at this week&#8217;s SkyBridge Alternatives (SALT) Conference in <span class=\"xn-location\">Las Vegas<\/span>, the biggest hedge fund conference of the year. On <span class=\"xn-chron\">Friday, May 13<\/span>, he will discuss &#8220;<span class=\"xn-location\">CUBA<\/span>: The Evolution of a Revolution &#8211; An Economy in Transition.&#8221; (<a href=\"http:\/\/www.saltconference.com\/speakers\/cancio.html\" target=\"_blank\" rel=\"nofollow\">http:\/\/www.saltconference.com\/speakers\/cancio.html<\/a>)<\/p>\n<p><b>About Fuego Enterprises, Inc. (FUGI)<\/b><\/p>\n<p>Founded in 2004, Fuego Enterprises, Inc. is a diversified holdings company focused on business opportunities in <span class=\"xn-location\">Cuba<\/span> and <span class=\"xn-location\">the United States<\/span> with operations in Media and Entertainment, Telecommunications, Travel, Real Estate and other industries. Fuego Enterprises also publishes two magazines: OnCuba (<a href=\"http:\/\/www.oncubamagazine.com\/\" target=\"_blank\" rel=\"nofollow\">www.oncubamagazine.com<\/a>) and ART OnCuba, the first <span class=\"xn-location\">Cuba<\/span>-focused monthly and quarterly bilingual magazine publication with national distribution in the U.S. Both magazines are published in hard copies and electronic formats and is distributed in select Barnes &amp; Noble stores throughout <span class=\"xn-location\">the United States<\/span>. They are also distributed in <span class=\"xn-location\">Cuba<\/span> and OnCuba the official and exclusive &#8220;in-flight&#8221; magazine for almost all flights from the U.S. to <span class=\"xn-location\">Cuba<\/span>.<\/p>\n<p>\u00a9 2016 Fuego Enterprises, Inc. All rights reserved. <\/p>\n<p><b>Media Contacts:<br \/><\/b>LA Marketing &amp; Communications (<a href=\"http:\/\/www.lafinancialmarketing.com\/\" target=\"_blank\" rel=\"nofollow\">www.lafinancialmarketing.com<\/a>) <\/p>\n<p><span class=\"xn-person\">Anne Aldrich<\/span>: <span>+1.312.787.1642<\/span><br \/><a href=\"mailto:aaldrich@lafinancialmarketing.com\" target=\"_blank\" rel=\"nofollow\">aaldrich@lafinancialmarketing.com<\/a><\/p>\n<p><span class=\"xn-person\">Mike Felix<\/span>: <span>+1.917.289.1119<\/span><br \/><a href=\"mailto:mfelix@lafinancialmarketing.com\" target=\"_blank\" rel=\"nofollow\">mfelix@lafinancialmarketing.com<\/a><\/p>\n<\/div>\n<p> <\/p>","protected":false},"excerpt":{"rendered":"<div class=\"xn-content\">\n<p><span class=\"xn-location\">MIAMI<\/span>, <span class=\"xn-chron\">May 11, 2016<\/span> \/PRNewswire-HISPANIC PR WIRE\/ &#8212; Fuego Enterprises, Inc. (OTCUS: FUGI), a diversified holdings company focused on business opportunities in <span class=\"xn-location\">Cuba<\/span> and <span class=\"xn-location\">the United States<\/span>, is pleased to announce significant growth in several business ventures fueled by a rising surge of interest in the Cuban culture and economy.<\/p>\n<p>Highlights of our recent operations include the following:<\/p>\n<ul type=\"disc\">\n<li>The successful&#8230;<br \/>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-45624","post","type-post","status-publish","format-standard","hentry","category-negocios-y-finanzas"],"acf":[],"_links":{"self":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/45624","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/comments?post=45624"}],"version-history":[{"count":0,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/posts\/45624\/revisions"}],"wp:attachment":[{"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/media?parent=45624"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/categories?post=45624"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hispanicprwire.com\/en\/wp-json\/wp\/v2\/tags?post=45624"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}