AMERICAN POWER GROUP CORP - APGI STOCK NEWS

American Power Group Corporation (APGI) provided a corporate update in April 2023, highlighting efforts to enhance market awareness of its V6000 dual fuel vehicular solution, aimed at reducing emissions and operational costs. CEO Chuck Coppa mentioned discussions with major natural gas and biodiesel dispensers for co-marketing opportunities and plans for new EPA emissions testing to expand engine family approvals. The company reported unaudited revenue of $0.35 million and $0.62 million for Q1 2023 and YTD 2023, down from $0.31 million and $1.84 million in 2022, affected by prior orders. Additionally, Chairman Matt Van Steenwyk announced a $5 million capital raise at a 32% premium to support patent purchases. APG is actively pursuing opportunities in the microgrid market, expected to grow significantly, and is also attending industry conferences to promote its dual fuel technology.

American Power Group Corporation (APGI) reported a significant decline in revenue for Q1 fiscal 2023, with unaudited net sales of $272,000 compared to $1.53 million the previous year. The company also posted a net loss of $161,000, a stark contrast to the $658,000 net income reported in the same quarter last year. The revenue drop is attributed to a one-time $1.4 million order shipped in Q4 2021. Although operating expenses decreased by $103,000 due to tax credits, the company's future sales remain uncertain, relying on approximately $4 million in outstanding conversion quotes.

American Power Group Corporation (APGI) reported a 32% increase in fiscal 2022 revenue, rising to $3.5 million from $2.7 million in the prior year. The company achieved a net income of $289,000, a turnaround from a $302,000 net loss in the previous fiscal year. The annual report, which includes these financial results, is publicly accessible via the OTC Markets. APGI's subsidiary offers innovative fuel conversion solutions, promoting lower emissions and cost-effective energy alternatives, contributing to environmental and sustainability goals.

American Power Group Corporation (APGI) reported a 32% increase in revenue for fiscal 2022, reaching $3.5 million compared to $2.7 million in 2021. The net income after taxes was $289,000, a turnaround from a $302,000 loss the previous year. Improved gross margins of 48% were attributed to increased sales and reduced amortization costs. The CEO highlighted the ongoing expansion in the oil and gas fracking market and a strong pipeline of $4+ million in conversion quotes. Corporate debt has decreased by $6.7 million over the last two years.