THERMAL, California, July 7, 2016 /PRNewswire/ --
New Global Energy, Inc. (OTCQB: NGEY), a public company focused on Aqua-Farming, Agriculture, and Health & Wellness, released a shareholder letter for the second quarter of 2016 as an update on company developments and how they project to impact revenue growth and profitability.
Our Tilapia are Huge
Tilapia season is in full swing and our market size tilapia now weigh in at an average of 1.5 lbs. each. This impressive weight is made possible by our farm's warm climate, ample fresh water, improved brood stock, and proprietary fish feeding methodology that includes our fish being fed nutrient rich algae which is a primary food source in their natural environment.
We believe that the size and color of our fish far surpass the competition and we are proud to have a strong and steady supply of approximately 4 million fish projected to produce an on-going revenue stream. It is also interesting to note that because our farms are located in California we enjoy a competitive advantage since other seafood companies are forbidden by law from bringing live tilapia into or out of the state.
We are pursuing our marketing program of delivering direct to market which has the dual benefit of being able to absorb the margin allocable to the fish broker and delivering direct also allows us to amplify our brand message to our buyers of premium quality and product purity.
To further expand our tilapia operation, we are investigating ways to boost distribution such as a possible partnership with Amazon Marketplace to provide market to market delivery.
We have learned that certain demographic markets prefer whole fish versus filets and we will continue to take that into consideration as we ramp up distribution. We remain committed to becoming non-GMO certified, which is better for the land, the environment, animals and people and which commands price premiums and marketing benefits. We are presently pursuing the Certification process.
We are extremely pleased that the Coachella Valley Water District has approved the Thermal farm to receive canal water, which comes from the rapidly flowing Colorado River and contains more oxygen and minerals than well water. Construction of the new extension should be commenced soon that will make it possible for canal water to reach the Thermal farm; estimated completion of the project is 2-3 years. The land value of the farm is expected to significantly increase upon project completion.
The Moringa "Superfood" Opportunity
We recently announced a joint venture agreement with the world's largest Moringa farm located in Leon, Nicaragua, which is a 180-acre farm growing nutrient rich Moringa. We are preparing for the launch of Moringa Reserve, LLC to develop, operate, distribute and sell Moringa-based "superfood" products to U.S. retail markets. Development of branding and packaging is underway.
This new partnership is exciting because it provides us with enough Moringa to meet the demand of the orders that we anticipate for future distribution. The Nicaragua farm utilizes the best possible production methods and the owners have 20+ years of Moringa experience that has resulted in high quality product. The farm's land is extremely fertile and from volcanic origin and the fields are fertilized from compost made from the stems and trunks of the Moringa tree. The Moringa is all natural and organically grown without any chemicals.
In addition to retailing Moringa-based superfood products, we believe that Moringa can generate several additional significant revenue streams for the Company including Moringa based animal feed products and Moringa oil to be sold to the cosmetics industry.
Stock Price Considerations
Several of our shareholders have expressed concern about the price per share, which has fallen from recent highs. The Company continues to expand and improve its operations and technology providing what we believe is a strong base for significant growth. We have had some administrative delays due to changes in accounting treatments which have been reflected in our financial statements. We are making efforts to continue to build our accounting resources to help address the ever increasing complexity of the SEC reporting process.
A new $3.5 million 506c equity financing for New Global Energy has just recently begun through our investment banker. This $3.5 million cash infusion will support farm and operational improvements, product development and market expansion as well as provide additional working capital necessary to aggressively pursue its business plan.
We remain confident that we will experience upward stock appreciation as the public continues to understand and follow New Global Energy.
For additional details, please follow our filings and press releases. We also send out a newsletter so include a mailing address and an email on our website contact page at http://www.newglobalenergy.net and we will add you to the distribution list.
Perry D. West
Chief Executive Officer
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This correspondence contains forward-looking statements. Any statements about our expectations, beliefs, plans, predictions, forecasts, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. These statements are often, but not always, made through the use of words or phrases such as "anticipate," "believes," "can," "could," "may," "predicts," "potential," "should," "will," "estimate," "plans," "projects," "continuing," "ongoing," "expects," "intends" and similar words or phrases. Accordingly, these statements are only predictions and involve estimates, known and unknown risks, assumptions and uncertainties that could cause actual results to differ materially from those expressed in them. Our actual results could differ materially from those anticipated in such forward-looking statements as a result of many factors.
About New Global Energy, Inc.
New Global Energy, Inc. (http://www.newglobalenergy.net ) is a public company focused on acquiring high-growth firms, assets and properties in the Aqua-Farming, Agriculture, and Health & Wellness industries. The trading symbol is NGEY traded on the OTCQB. New Global Energy seeks to create sustainable projects and protect the environment.
Safe Harbor Statement - This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E and/or 27E of the Securities Exchange Act of 1934 that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company and the risks and uncertainties detailed from time to time in reports filed by the company with the Securities and Exchange Commission. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, the company's ability to raise necessary financing, retention of key personnel, timely delivery of inventory from the company's suppliers, timely product development, product acceptance, and the impact of competitive services and products, in addition to general economic risks and uncertainties.
For more information contact:
Charlotte Luer, Director of Investor Relations
SOURCE New Global Energy, Inc.