Planet Resource Recovery, Inc. Publishes Financials for 2011 and 2Q 2012
20 September 2012 - 11:00PM
Marketwired
Planet Resource Recovery, Inc. (PINKSHEETS: PRRY) announced today
that the Company has published its financial statements for the 12
months ended December 31, 2011 and the six month period ended June
30, 2012. The unaudited financial statements are available at
www.OTCMarkets.com.
Sales Revenues for the six months ended June 30, 2012 were
$208,679, a 96% increase, when compared to Sales Revenue of
$106,407 for the twelve month period ended December 31, 2011.
Operational Expenses for the six months ended June 30, 2012 were
$193,289 versus $1,257,191 for the fiscal year ended December 31,
2011, a reduction of approximately 70% on an annualized basis. Net
Income for the six months through June 30, 2012 was $24,564 versus
a net loss of $1,174,935 for twelve months of fiscal 2011.
Enrique Salinas, the Company's CEO, said, "We are very pleased
with the progress we have made this year in positioning our
PetroLuxus family of products for continued revenue growth, while
at the same time, substantially improving expense control."
About Planet Resource Recovery, Inc.
Planet Resource Recovery, Inc. is the developer, manufacturer and
marketer of the PetroLuxus™ Technology Platform which currently
include the PetroLuxus™ family of products for the Oil & Gas
industry and AquaLuxus™ for the water industry. For more
information visit: www.planetresource.net.
Safe Harbor Statement Under The Private
Securities Litigation Reform Act of 1995: The statements in this
presentation that relate to the Company's expectations with regard
to the future impact on the Company's results from new products in
development are forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. The results
anticipated by any or all of these forward-looking statements may
not occur. Additional risks and uncertainties are set forth in the
Company's Annual Report for the year ended December 31, 2009, the
Company's Quarterly Report for the First quarter ended March 31,
2010. The Company undertakes no obligation to publicly release the
result of any revisions to these forward-looking statements that
may be made to reflect events or circumstances after the date
hereof, or to reflect the occurrence of unanticipated events or
changes in the Company's plans or expectations.
Contact: Planet Resource Recovery, Inc.
281-213-5266 Email Contact
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