ORLANDO, Fla., Dec. 2, 2011 /PRNewswire/ -- Freedom Environmental Services (OTC QB: FRDM) announces that the 3rd quarter 10-Q quarterly filing is complete and the company is current with all filings.
Freedom Environmental Services showed a 385% increase in revenues for the first 3 quarters compared to the first 3 quarters of 2010. For the 3rd quarter sales were up over 40% compared to Q3 of 2010. Freedom also reduced the loss for the 9 months by more than 73% with a substantial portion of the loss being non-cash and non-recurring in nature and created by items such as one time stock issuances in-lieu of cash and depreciation. The company uses a 5 year depreciation schedule for major equipment items and this accelerated method accounted for nearly half of the company's losses.
Michael Ciarlone, Freedom COO stated, "We are very excited about the progress we have made over the last year. Completing two major acquisitions, reworking their business models, re-educating customers, and cleaning up past issues related to each company that existed prior to the acquisitions is no small task. The acquisitions completed last year and execution of our business plan has created a base to grow on for years to come." Mr. Ciarlone went on to say, "We are dedicated to not only growing this company but increasing shareholders value for our investors. And now that we have successfully integrated these great companies we will begin educating investors and Wall Street to the true value of Freedom Environmental and the tremendous potential of our business model. We believe that our stock is very undervalued at this point in time and we are excited to share our story with Wall Street."
"While the economic climate is challenging for many businesses today, we expect to have a record year of both revenue growth and profitability," stated Mr. Ciarlone, "and we look for an even better year in 2012 with increased profitability. We firmly believe our business is recession proof because the services we provide to major companies are required regardless of the economic environment."
About Freedom Environmental Service
Freedom Environmental Services (FES) is one of Florida's only 100% "Green" grease and wastewater collection, processing, and recycling companies headquartered in Orlando, Florida. FES provides the most comprehensive, cost-effective and reliable treatment systems and services. FES provides full capture and processing of organics and grease from both commercial and residential accounts. FES processes all wastewater and grease, normally sent to a dump site, and produces a reusable bio-fuel feedstock. Working in conjunction with the Department of Environmental Protection, major utility providers, and local health departments, FES provides Wastewater and Storm-water System Management, Grease and Organics Collection, Processing, and Disposition, Commercial Plumbing and Water System Management, Septic service and maintenance, lift station maintenance, line jetting and excavations.
www.freedomwaterservices.com
Investor Relations - 1-855-FRDM-INFO
SOURCE Freedom Environmental Services
