Strategic Environmental & Energy Resources Becomes Fully Reporting and Discusses Results of Operations for the Six Months Ended June 30, 2013
DENVER, Sept. 3, 2013 /PRNewswire/ -- Strategic Environmental & Energy Resources, Inc. OTC (SENR). Effective August 27, 2013, the Company is now fully reporting with the Unites States Securities and Exchange Commission, ("SEC") and expects to commence trading on the OTC Bulletin Board this month.
Reports filed with the SEC by The Company are available at www.SEC.gov.
Results of Operations for the Six Months Ended June 30, 2013 compared to June 30, 2012
On a consolidated basis, for the first half of 2013, the Company reported record revenue of $5,399,000, with a net loss applicable to SEER common stockholders of $(188,800), a net loss per share of less than $.01; compared to revenues of $2,588,000 for the first half of 2012 and a net loss applicable to SEER common stockholders of $(835,600) or a net loss of $(.03) per share. "The first half net loss was, in large part, a consequence of the company's capital expenditures to fund and accelerate bringing to market its new medical waste treatment technology," pointed out John Combs, CEO of Strategic Environmental & Energy Resources.
"Especially considering our extraordinary capital expenses and technology funding and support during the first half of the year, we are all very pleased with the significant year-on-year improvement in financial performance," Combs said. "The first-half consolidated revenue increased $2,811,000 or 108% compared to the first half of 2012. Our industrial cleaning segment had an increase in revenues of $1.3 million comparing the six months ended June 30, 2013 to June 30, 2012, and our environmental technology solutions segment had an increase in revenues of $1.4 million comparing June 30, 2013 to June 30, 2012," he reported. As part of the Company's commitment to our new technology, during the first six months of 2013, the Company invested an additional $135,800 in research and development of its patent-pending waste treatment technology, CoronaLux™.
"This marked improvement in operating performance is the result of an increase in demand for REGS' downstream oil & gas services, and for MV Technologies' renewable energy products, as well as continued steady production by Tactical Cleaning," explained Combs. He added, "Closing our round of financing last year positioned the Company to increase its marketing efforts and generally operate more efficiently with the proper personnel. We fully expect for this trend to continue. In addition to improved revenues we have continued our concerted effort over the last two years to streamline overhead and improve our accounting and reporting procedures."
Combs added further, "The Company's continues aggressively on its path to bring to market its patent-pending waste treatment technology, CoronaLux™. Two systems have been constructed, critical permitting is being obtained, and preliminary independent test results are very encouraging."
About Strategic Environmental & Energy Resources, Inc.
Strategic Environmental & Energy Resources, Inc. is a leading provider of products and services to the, renewable energy, oil and gas E&P, refining, and waste management industries. The Company has three wholly-owned operating subsidiaries: REGS, LLC, Tactical Cleaning Company, MV Technologies, LLC; and a majority-owned subsidiary, Paragon Waste Solutions, LLC, with its proprietary and patent-pending CoronaLux™ technology.
For more information about the Company visit: www.seer-corp.com
Safe Harbor Statement
This press release contains "forward-looking statements" within the meaning of various provisions of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates," and other terms with similar meaning. Specifically, statements about demand for, and effectiveness of, the Company's products and services are forward looking statements. Although the company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Such forward-looking statements should not be construed as fact. The information contained in such statements is beyond the ability of the Company to control, and in many cases the Company cannot predict what factors would cause results to differ materially from those indicated in such statements. All forward-looking statements in the press release are expressly qualified by these cautionary statements and by reference to the underlying assumptions.
SOURCE Strategic Environmental & Energy Resources, Inc.