SHELBY TOWNSHIP, Mich., Aug. 14, 2023 (GLOBE NEWSWIRE) -- ResGreen Group (OTC PINK: RGGI)
ResGreen Group International, Inc. (RGGI), a next-gen mobile robot and software solutions company, announced today its second quarter 2023 results, which included a gross profit of $180,364 for the three-month period ending June 30, 2023 - a 973 percent increase from $16,803 in the same quarter in 2022. Gross revenue is realized against a $458,800 total of outstanding contracts.
"ResGreen was able to deliver tremendous revenue growth due to contracts with several new customers and the development of new leading-edge products that enhance our offerings," said Parsh Patel, CEO of ResGreen. "We remain focused on bringing the latest technology and top-notch service to our clients, as well as delivering on our long-term objectives for our investors."
In May 2023, ResGreen launched its bidirectional BigBuddy, one of the most robust AGVs in the industry. BigBuddy uses magnetic tape to move loads up to 5,000 pounds. The vehicle expands the company's portfolio of mobile robots by accommodating demanding industrial environments, as well as crowded warehouses that require high maneuverability.
ResGreen's engineers continue to improve BotWay software's usability, functionality and scalability. The open-architecture BotWay was designed with interoperability and ease-of-use in mind. Because BotWay uses standard MQTT network protocol, it can connect not only to ResGreen's Automatic Guided Vehicles (AGVs) and Automated Mobile Robots (AMRs), but also other suppliers' vehicles and equipment including conveyors, elevators, lights and even garage door openers.
ResGreen is currently traded on the OTC PINK market under the symbol RGGI.
About ResGreen Group International, Inc. (RGGI)
ResGreen is a premier provider of automated material handling solutions, including interoperable software, Autonomous Mobile Robots (AMRs), Automatic Guided Vehicles (AGVs) and industrial automation devices. Connectivity and collaboration are the cornerstones of ResGreen's products, as well as Industry 4.0 and 5.0. ResGreen's team of experienced engineers use the Internet of Things (IoT), MQTT protocol and Robot Operating System (ROS) to design technologies that interface with a wide variety of automated equipment, electronic components and software systems. For more information, visit resgreengroup.com.
Forward Looking Statement
This news release includes certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. Forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include general business, economic, competitive, regulatory, markets and other conditions, political and social uncertainties. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. No information in this news release should be construed as any indication whatsoever of the Company's future stock price, revenues, or results of operations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
