TUCSON, AZ / ACCESSWIRE / July 13, 2023 / Titan NRG, Inc. (OTC PINK:TTNN) ("Titan NRG") a leader in downstream energy and transportation through its wholly-owned subsidiaries, releases their annual report for the fiscal year ending March 31st, 2023.
"We're excited to release our Annual Disclosure for our fiscal year-end. This past year was incredible, having record numbers across the board for all the companies. There continues to be opportunities for organic growth due to tightness in the specialized trucking market, especially with current financial and economic conditions." said Alex Majalca Jr., Titan NRG's President and CEO.
Titan NRG completes its first acquisition as of January 31st, 2023. "Our first acquisition, NRG Equipment, added approximately 4.5mm to our capital assets (before depreciation and book value). We've definitely widened our purview when it comes to growth. With the current financial markets, interest rates and steel prices, it might make more sense to purchase an existing company and its assets rather than grow an area organically in certain instances." Alex Majalca Jr. continued on to say, "I'm just so incredibly proud of our Team here at Titan NRG and everything that they do to keep all these pieces together and moving forward."
Key Highlights from Fiscal year 2022 ending March 31st, 2023 include:
- $10,495,301 in Annual Revenue
- $1,019,565 in Accounts Receivable
- $987,617 cash on hand compared to $350,676 one year ago
- $5,741,373 in capital assets(before depreciation and book value)
- $624,956 in Net Operating
For further information, the full Annual Report for the fiscal year ending March 31st, 2023, can be accessed on the OTC Markets website at: https://www.otcmarkets.com/otcapi/company/financial-report/375825/content
Contact:
Alex R. Majalca Jr.
President/Chief Executive Officer
Titan NRG, Inc.
alex@titannrg.com
About Titan NRG Inc.: Titan NRG is a holding company that operates as a downstream energy and transportation company through its wholly-owned subsidiaries. NRG Dynamics currently has 25+ transports operating in 9 states. APE Fuels offers retail and commercial propane serving southern AZ with 1500+ leased tanks and 2500+ customers. Vespene with wholesale purchasing and sales of LPG products. NRG Rail has a long-term lease on a new 18 car rail facility in Tucson with approved 1.2mm gallons of propane/butane storage.
Titan NRG focuses on vertical integration while expanding operations to cover product transfer and sales from the refinery to retail. This business model is a win for the company, customers, and shareholders. Additionally, this model can be replicated in other regions.
www.titannrg.com
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NOTES ABOUT FORWARD-LOOKING STATEMENTS
Safe Harbor Statement: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with OTC Markets. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE: Titan NRG, Inc.
via PRISM Mediawire, LLC
https://www.accesswire.com/767841/Titan-NRG-Inc-TTNN-Releases-Annual-Report-For-Fiscal-Year-2022
