Popular on PrZen
- GLADYS Magazine Celebrates their 15 Year Anniversary! - 249
- Music Producer Debuts Riveting Miniseries About a Pro Football Superstar Embroiled in Physical Assault Scandal - 146
- Oil & Gas Workers Association Endorses Allen Mashburn for Lieutenant Governor of North Carolina - 134
- Ironside HR, No. 7 on the 2023 SMU D100 List - 113
- Missbuy Hair Introduction: Breathable Glueless and HD Lace Wigs - 112
- L.A.I. Communications Wins Prestigious Platinum MarCom Award for Excellence in Marketing and Communications - 112
- The New Way of Selling Your House! - 107
- Breaking News - New Music Release - 105
- Descendant of Sojourner Truth designs custom Space Coat !
- It's Fall Planting Season Is Here at TN Nursery
Similar on PrZen
- Lawmato relaunches its virtual consultation app with enhanced features
- MiBOXER Is Exhibiting At Hong Kong International Autumn Lighting Fair
- Devart Is the Winner of 2023 New World Report Software and Technology Award
- Unveiling a Secluded Paradise: Beachfront Home on Dog Island, Carrabelle, Florida, Goes to Auction
- RacquetX Announces Miami Open Experience as Excitement Builds for Landmark 2024 Event
- Advcash adds instant Pix payments in Brazil
- Sip Social Co. Partners With Omnify To Streamline User Experience Across Growing Operations
- Wohler makes the Evertz Quartz Protocol available for their iAM-SUM audio monitors & iVAM-SUM AV monitors
- Genuine Hospitality, LLC Adds Two, Southwest Florida Hotels, to Growing Portfolio
- New York Young Republican Club Endorses Allen Mashburn For Lieutenant Governor Of North Carolina
CWPE Reports Q2-2023 Financials
PrZen/33514024
KATY, Texas - PrZen -- CW Petroleum Corp (CWPE) (the "Company"), a leading provider of Proprietary Reformulated No Ethanol Gasoline and Biofuels, today announced unaudited financial results for the second quarter ended June 30, 2023.
Key Financial Highlights for Three Months Ended June 30, 2023, Compared to Prior Year Period:
Management Commentary:
Chief Executive Officer Christopher Williams commented, "The Company has posted two consecutive quarters of year-on-year sales growth, positive EBITA, and positive Net Income. The revenue increase can be linked to continuing strong pipeline trading, reformulated no ethanol gasoline sales, and demand for renewables."
The Company's SEC Settlement in Q2-2023 did not impact its day-to-day business operations or its ability to raise capital in the short or long term.
The Company will issue a press release once it files its SEC From 1-SA (For the fiscal semiannual period ending: June 30, 2023).
Detailed information about the Company OTC Markets at:
CWPE Security Detail
CWPE Disclosures
CWPE News
The Company continues to seek investment capital and acquisition targets to grow and expand its renewable and petroleum-based product offerings inside the State of Texas and other markets in the U.S. In addition, it is committed long term to finalize its public offering and up-list to Nasdaq or NYSE when market conditions permit; however, there is no guarantee a public offering and up-list to Nasdaq or NYSE will occur.
For additional information, visit our website at cwpetroleumcorp.com, email: investor@cwpetroleumcorp.com , or call 281-817-8099
About CW Petroleum Corp
CW Petroleum Corp was incorporated in the State of Texas on April 29, 2005 and began operations in 2011. On April 14, 2018, CW Petroleum Corp was incorporated in the State of Wyoming. On April 15, 2018, the Texas corporation became a wholly-owned subsidiary of the Company through a share exchange. CW Petroleum Corp (Wyoming) is a holding company and through our wholly-owned subsidiary, we supply and distribute biodiesel, biodiesel blends, ultra-low sulfur diesel, gasoline blends, renewable gasoline, and a proprietary EPA-approved reformulated no ethanol gasoline to distributors, convenience stores, and marinas.
Forward-Looking Statements
Certain statements in this press release may contain "forward-looking statements" regarding future events and our future results. All statements other than statements of historical facts are statements that could be deemed to be forward-looking statements. These statements are based on current expectations, estimates, forecasts, and projections about the oil and gas markets, energy markets, and other markets in which we operate and the beliefs and assumptions of our management. Words such as "expects," "anticipates," "targets," "goals," "projects," "intends," "plans," "believes," "seeks," "estimates," "endeavors," "strives," "may," or variations of such words and similar expressions are intended to identify such forward-looking statements. Readers are cautioned that these forward-looking statements are subject to a number of risks, uncertainties, and assumptions that are difficult to predict, estimate, or verify. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. Such risks and uncertainties include those factors described in the Company's most recent annual report on Form 1-K, which may be amended or supplemented by subsequent semiannual reports on Form 1-SA or other reports filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements. For more information, please refer to the Company's filings with the Securities and Exchange Commission.
No Offer or Solicitation
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Key Financial Highlights for Three Months Ended June 30, 2023, Compared to Prior Year Period:
- 2023 Revenues of ~$2.6Million vs 2022 Revenues of ~$1.6Million
- 2023 EBITDA of $368,638 vs 2022 EBITDA of $(92,894) (Loss)
- 2023 Net Income of $292,510 vs 2022 Net Income of $(151,078) (Loss)
Management Commentary:
Chief Executive Officer Christopher Williams commented, "The Company has posted two consecutive quarters of year-on-year sales growth, positive EBITA, and positive Net Income. The revenue increase can be linked to continuing strong pipeline trading, reformulated no ethanol gasoline sales, and demand for renewables."
The Company's SEC Settlement in Q2-2023 did not impact its day-to-day business operations or its ability to raise capital in the short or long term.
The Company will issue a press release once it files its SEC From 1-SA (For the fiscal semiannual period ending: June 30, 2023).
Detailed information about the Company OTC Markets at:
CWPE Security Detail
CWPE Disclosures
CWPE News
The Company continues to seek investment capital and acquisition targets to grow and expand its renewable and petroleum-based product offerings inside the State of Texas and other markets in the U.S. In addition, it is committed long term to finalize its public offering and up-list to Nasdaq or NYSE when market conditions permit; however, there is no guarantee a public offering and up-list to Nasdaq or NYSE will occur.
For additional information, visit our website at cwpetroleumcorp.com, email: investor@cwpetroleumcorp.com , or call 281-817-8099
About CW Petroleum Corp
CW Petroleum Corp was incorporated in the State of Texas on April 29, 2005 and began operations in 2011. On April 14, 2018, CW Petroleum Corp was incorporated in the State of Wyoming. On April 15, 2018, the Texas corporation became a wholly-owned subsidiary of the Company through a share exchange. CW Petroleum Corp (Wyoming) is a holding company and through our wholly-owned subsidiary, we supply and distribute biodiesel, biodiesel blends, ultra-low sulfur diesel, gasoline blends, renewable gasoline, and a proprietary EPA-approved reformulated no ethanol gasoline to distributors, convenience stores, and marinas.
Forward-Looking Statements
Certain statements in this press release may contain "forward-looking statements" regarding future events and our future results. All statements other than statements of historical facts are statements that could be deemed to be forward-looking statements. These statements are based on current expectations, estimates, forecasts, and projections about the oil and gas markets, energy markets, and other markets in which we operate and the beliefs and assumptions of our management. Words such as "expects," "anticipates," "targets," "goals," "projects," "intends," "plans," "believes," "seeks," "estimates," "endeavors," "strives," "may," or variations of such words and similar expressions are intended to identify such forward-looking statements. Readers are cautioned that these forward-looking statements are subject to a number of risks, uncertainties, and assumptions that are difficult to predict, estimate, or verify. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. Such risks and uncertainties include those factors described in the Company's most recent annual report on Form 1-K, which may be amended or supplemented by subsequent semiannual reports on Form 1-SA or other reports filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements. For more information, please refer to the Company's filings with the Securities and Exchange Commission.
No Offer or Solicitation
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Source: CW Petroleum Corp
0 Comments
Latest on PrZen
- Lumena, A New Luxury Oceanfront Condominium Takes Flight on Florida's Space Coast
- Dogs at the Dentist: How an unlikely partnership is helping treat dental anxiety
- SSV Network selects Randamu for Distributed Key Generation (DKG) Grant Award
- Lawmato relaunches its virtual consultation app with enhanced features
- MiBOXER Is Exhibiting At Hong Kong International Autumn Lighting Fair
- Beck Properties Group, eXp Realty Expands Service in Southeast Indiana
- Stonely Unleashes Innovative Platform for Homeowners: Design and Order Kitchen Countertops Online with Ease!
- One Million Pages Read in the First Year !!
- Kingston NY-Based Ryan & Ryan Kicks Off its 65th Anniversary Dec. 6 by Underwriting a Chamber of Commerce Mixer Saluting RUPCO
- Tobu Railway's Hosts "Tokyo Downtown Tour: Bamboo Lighting."
- "Street Fighterâ„¢ 6" Panel Announced for December 2nd at Los Angeles Comic Con; The Music of Street Fighter 6: A Special Look at the Video Game
- National Minority Health Association Launches "Equity for All."
- Green Office Partner Launches Managed Print Services Program in Canada
- Vantiva Confirms its Strong Commitment to Diversity, Equity and Inclusion
- The World's No.1 Superstar Rings in 48th Birthday and 25 Years as an Entertainer
- Devart Is the Winner of 2023 New World Report Software and Technology Award
- Unveiling a Secluded Paradise: Beachfront Home on Dog Island, Carrabelle, Florida, Goes to Auction
- SalonInteractive Launches in Square App Marketplace to Provide eCommerce, Marketing & More to Beauty Professionals
- RacquetX Announces Miami Open Experience as Excitement Builds for Landmark 2024 Event
- Dominating Business Intelligence: Informer Tops the BI & Analytics Survey for the Fourth Time