ORLANDO, Fla., June 16, 2020 (GLOBE NEWSWIRE) -- National Storm Recovery Inc. (OTC: NSRI) (“NSRI” or the “Company”), a leading provider of environmentally beneficial solutions for tree and storm waste disposal, today announces first quarter financial results (for the 3 month period ending March 31, 2020 as already reported on otcmarkets.com).
Within the Company’s first quarter 2020, utilizing only approximately 2 months of post-acquisition revenue of Mulch Manufacturing, the Company recorded revenues of $6,255,262, $1,728,506 of gross profit, and $34,711,993 in total assets, including $4,303,668 of cash.
Tony Raynor, NSRI’s CEO, comments: “This year’s first quarter has been extraordinary! We have made major upgrades at our key production facility to increase our production. We are prepared to meet the challenges and have planned accordingly for the hurricane season, the busiest season within our industry.”
About National Storm Recovery, Inc. (NSRI)
National Storm Recovery, Inc., (“NSRI”), through its subsidiaries, provides tree services, debris hauling and removal, biomass recycling, mulch manufacturing, packaging and sales. The Company was established with the objective of providing a solution for the treatment and handling of tree debris that has historically been disposed of in landfills, creating an environmental burden and pressure on disposal sites around the nation. The Company and its Sustainable Green Team’s solutions are founded in sustainability, based on vertically integrated operations that begin with collecting tree debris through the Company’s tree services division and collection sites, and then, through the Company’s processing division, recycling and using that tree debris as a feedstock that is manufactured into a variety of organic, attractive, next-generation mulch products that are packaged and sold to landscapers, installers and garden centers. The Company plans to expand its operations through a combination of organic growth and strategic acquisitions that are both accretive to earnings and are positioned for rapid growth from the resulting synergistic opportunities identified. The Company’s customers include governmental, residential and commercial clients.
To learn more please visit: www.NationalArborCare.com
SAFE HARBOR ACT: Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, listing on the CSE, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise. No information in this press release should be construed as any indication whatsoever of the Company’s future revenues, results of operations, or stock price.
Company Contact:
www.NationalArborCare.com
Anthony Raynor
CEO & Director
407.886.8733 Office