ORLANDO, Fla., Nov. 10, 2020 (GLOBE NEWSWIRE) -- Sustainable Green Team, Ltd. (OTC: SGTM) (“SGTM” or the “Company”), a leading provider of environmentally beneficial solutions for tree and storm waste disposal, today announces another successful quarter, bringing the Company’s revenues to $24.5 million for the first nine months of 2020.
For the three months ending Sept. 30, 2020, SGTM recorded $5,907,155 in revenue, $422,133 in gross profit and $36,140,923 in total assets, with a strong position of $5,936,798 in cash and liquid investments.
For the nine months ending Sept. 30, 2020, SGTM recorded $24,544,820 in revenue and $5,503,905 in gross profit.
Notable achievements during the third quarter ending Sept. 30, 2020, include:
- Completion of company name and trading symbol change, finalized July 21 (view release).
- Decrease of authorized shares from 3,249,000,000 to 250,000,000, a 93% reduction, as of July 21 (view release).
- Receipt of IPEMA certification to recycle tree and storm waste into public playground surfacing material, a $4 billion market, on July 23 (view release).
- Completion of construction on Waste Management landfill facility, increasing mulch manufacturing capabilities, on July 28 (view release).
- Expansion of vertically integrated operations with the addition of new grapple hauling trucks to the Company’s fleet, announced Aug. 5 (view release).
- Receipt of permit approval to accept debris and manufacture mulch at the Company’s largest state-of-the-art facility, announced Aug. 13 (view release).
All of these achievements have led to another successful quarter and year for the Company.
SGTM’s CEO and Director Tony Raynor comments, “I am proud of our team and the progress we have made this year in achieving these key milestones. We plan to proceed in a similar manner during the remaining quarter and end 2020 on a strong note. In keeping with that aim, we have already completed our two-year audit to commence our Form 10 process, which will enable us to begin 2021 as a fully reporting company and uplist accordingly.”
About Sustainable Green Team, Ltd. (SGTM)
Sustainable Green Team, Ltd. (“SGTM”), through its subsidiaries, provides tree services, debris hauling and removal, biomass recycling, mulch manufacturing, packaging and sales. The Company was established with the objective of providing a solution for the treatment and handling of tree debris that has historically been disposed of in landfills, creating an environmental burden and pressure on disposal sites around the nation. The Company’s solutions are founded in sustainability, based on vertically integrated operations that begin with collecting tree debris through its tree services division and collection sites and then, through its processing division, recycling and using that tree debris as a feedstock that is manufactured into a variety of organic, attractive, next-generation mulch products that are packaged and sold to landscapers, installers and garden centers. The Company plans to expand its operations through a combination of organic growth and strategic acquisitions that are both accretive to earnings and are positioned for rapid growth from the resulting synergistic opportunities identified. The Company’s customers include governmental, residential and commercial clients.
SGTM currently has two wholly owned subsidiaries to efficiently assess areas, recover, manufacture and distribute:
National Storm Recovery, LLC
National Storm Recovery, LLC (“NSR”) is composed of a team that has expertise in dangerous tree removal, debris hauling and debris management. The Company’s management team assesses storms by deploying its mobile command center to designated sites and then strategizing with its national partners, which include government agencies, prime contractors and subcontractors.
Central Florida Arborcare (“CFA”), a DBA of NSR, has spent more than 40 years perfecting its technique for proper tree care, removal and services. From tree removal, stump grinding and tree care to grapple hauling and storm recovery, CFA ensures properties remain safe and businesses can continue as usual.
To learn more please visit: https://www.centralfloridaarborcare.com
Mulch Manufacturing, Inc.
Mulch Manufacturing, Inc. (“MMI”), being vertically integrated, receives a large volume of wood fiber recovered from Central Florida Arborcare to feed raw material needs. MMI has the product line and distribution system to address a substantial customer base, which can be expanded.
To learn more please visit: https://mulchmfg.com
For additional information regarding SGTM’s operations, expansion plans and production facilities, view the Company’s presentation.
SAFE HARBOR ACT: Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, listing on the CSE, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will" and other similar expressions, are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance or achievements to differ materially from anticipated results, performance or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise. No information in this press release should be construed in any matter whatsoever as an indication of the future performance of the Company’s revenues, financial condition or stock price.
Company Contact:
Anthony Raynor
CEO & Director
407.886.8733 Office
Corporate Communications:
InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com