E-Waste Systems Inc. Announces Record 1st Quarter 2014 Results
22 May 2014 - 1:00AM
Marketwired
E-Waste Systems Inc. Announces Record 1st Quarter 2014 Results
Announces Solid Increase of Asset Base to $1,631,640 and
Achievement of First Major Milestone
LONDON, UNITED KINGDOM--(Marketwired - May 21, 2014) - E-Waste
Systems, Inc. (OTCQB: EWSI) ("EWSI," "EWS," "eWaste Systems," or
the "Company"), an electronic waste management, environmentally
focused services and technology company, is pleased to announce the
release of its first quarter financials for the period ending March
31st, 2014. The results, which are only for the Company's Owned
Operations, show increases in both the company's asset base of
$477,343 (a 41% increase from same period 2013) and in revenues by
$509,056.
The Company's first quarter asset base for the three month
period ending March 31, 2013, increased by $477,343 to
$1,631,640. The asset growth represents a 41% increase over the
audited year-end results.
The Company's revenue per share increased to $0.0017. This is a
result of the Company's acquisitions and new operations. The
Company's net loss per share was $0.02 compared to the adjusted net
loss per share of $0.01 for the same quarter last year. The
increase is the direct result of the company's expansive growth
during the year, which is measured by the increase per share of
$0.0124 for operating expenses. The Company considers this to be
within the range for its plan to achieve accelerated revenue growth
and faster global market penetration.
The Company record 1st quarter revenues of $509,056 were
accompanied by an increase in operating expenses by $4,616,317 from
the adjusted results of $599,864 in Q1 2013. "Expenses were an
investment in our future with the vast majority spent on business
development providing the foundation for our aggressive growth
objectives," E-Waste Systems Inc. CEO Martin Nielson
stated. "Increases in both the company's asset base as well as
revenues are attributable to the company's implementation of its
corporate objectives of asset acquisition, brand promotion and
partnerships with companies that have a global reach."
"Our quarterly results are a reflection of progress we made in
establishing our strong platform for growth. From a year ago, we
have reached an unprecedented milestone in our industry. Last
year we set up a plan to create a global brand, develop unique
technologies for the industry and accelerate our revenue and that
plan is well underway. Based upon our progress to
date, we are confident that the rest of the year will reap
rewards based upon the strength of our foundation and the talent we
have attracted to our team," Mr. Nielson stated.
Simultaneously with this press release, EWSI has issued an open
letter to shareholders from the CEO which gives a richer and more
complete discussion of the Company's achievement to date, including
information about its Invested Asset Operations, which are separate
from the results of its Owned Operations as reported in the SEC
filings. In this letter, Mr. Nielson highlights the Company's
success in implementing its business plan and shares insight into
the intrinsic values of its global operations.
Mr. Nielson added, "More importantly we have now set a solid
platform for growth. We have created a formula that will be
the envy of many as we are the first company in our industry to
achieve a global brand with a range of innovative
technologies. We look forward to sharing the outcome with our
shareholders as the next milestones are achieved."
The shareholder letter is available on the Company's website, on
its blogsite, and through its social media sites.
About E-Waste Systems, Inc. E-Waste Systems, Inc. is the first
pure play public company in the emerging waste electrical and
electronics equipment ("WEEE") industry. EWS leverages its
expansive geographical network of affiliates providing best
practices in professional management and state-of-the-art
engineering to companies facing regulatory or other mandates for
handling e-waste. Additional information, including the business
plan summary, pictures and descriptions of the facilities, staff,
and overall progress of the Company is available on the official
website and social media sites: www.ewastesystems.com, Facebook,
Twitter, and Linkedin. Or contact: Investor Relations at:
ir@ewastesystems.com.
Safe Harbor Statement: Certain statements and information
included in this release may constitute "forward-looking
statements" as defined in the Federal Private Securities Litigation
Reform Act of 1995. Such forward-looking statements involve known
and unknown risks, uncertainties and other factors which may cause
the actual results, performance or achievements of the company to
be materially different from any future results, performance or
achievements expressed or implied in such statements. Additional
discussion of factors that could cause actual results to differ
materially from management's projections, estimates and
expectations is contained in the Company's SEC filings. The Company
assumes no obligation to update any forward-looking statements as a
result of new information, future events or developments, except as
required by federal securities laws.
E-Waste Systems, Inc. Investor Relations
ir@ewastesystems.com