TUCSON, AZ, August 21, 2023 – Titan NRG, Inc. (OTC PINK:TTNN) (“Titan NRG”) a leader in downstream energy and transportation through its wholly-owned subsidiaries, proudly presents its First Quarter Financial Reports, revealing noteworthy strides in its operations.
“Our first quarter disclosures demonstrate our continued growth. The numbers speak for themselves, with year-over-year comparisons indicating a substantial move into profitability.” said Alex Majalca Jr., Titan NRG’s President and CEO. “ Some key highlights to really focus on are the increased revenue numbers for the quarter as well as a very nice swing in our Net Comprehensive Income line. We’re continuing on this path toward success with the addition of two more assets for our trucking sector.”
- Achieving Quarterly Revenue of $1,987,024, a notable progression from $1,808,254 in the comparable period.
- Delivering a Net Comprehensive Income of $218,518, contrasting sharply with a loss of ($13,517) in the preceding year.
- Successfully managing Accounts Receivable worth $784,305, showcasing substantial growth from $431,839 year over year.
- Building robust financial resilience with $1,080,225 in cash on hand, up significantly from $505,761 twelve months ago.
For further information, the full Quarterly Report for the fiscal year can be accessed on the OTC Markets website at: https://www.otcmarkets.com/otcapi/company/financial-report/379361/content
About Titan NRG Inc.:
Titan NRG is a holding company that operates as a downstream energy and transportation company through its wholly-owned subsidiaries. NRG Dynamics currently has 25+ transports operating in 9 states. APE Fuels offers retail and commercial propane serving southern AZ with 1500+ leased tanks and 2500+ customers. Vespene with wholesale purchasing and sales of LPG products. NRG Rail has a long-term lease on a new 18 car rail facility in Tucson with approved 1.2mm gallons of propane/butane storage.
Titan NRG focuses on vertical integration while expanding operations to cover product transfer and sales from the refinery to retail. This business model is a win for the company, customers, and shareholders. Additionally, this model can be replicated in other regions.
NOTES ABOUT FORWARD-LOOKING STATEMENTS
Safe Harbor Statement: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company’s current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company’s business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with OTC Markets. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE: Titan NRG, Inc.