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Blue Earth Resources, Inc. (BERI) is a Knoxville-based company specializing in procuring refined fuels from refineries and wholesalers to distribute to large retailers and single site operators. They offer custom branding services, including imaging, design, and consultation, to assist with branding. The company recently opened its first BP branded retail location in La Vergne, Tennessee, with plans to open more BP locations in the coming months.
Under a 10-year fuel supply agreement with Marathon Petroleum Corporation, Blue Earth Resources will resell Marathon's fuel and deliver its merchant services to branded retail convenience stores and fuel stations in the U.S. The company aims to provide high-quality fuels to consumers and improve its market positioning by becoming an SEC reporting and compliant company.
Blue Earth Resources, Inc. (OTC PINK: BERI) announced its engagement of ClearThink Capital to enhance investor outreach as it enters a growth phase following the successful integration of recent acquisitions. CEO Scott M. Boruff highlighted a significant revenue increase of 350% to $31.0 million for the quarter ended November 30, 2022. The strategy aims to improve capital market positioning and comply with SEC regulations, potentially leading to an uplisting on a major exchange. ClearThink's role will involve targeted communication to attract sophisticated investors, thereby aiming to unlock stockholder value.
Blue Earth Resources, Inc. (BERI) held a post-acquisition conference to integrate operations with its subsidiaries, Fuel Trader Supply (FTS) and Fuel Trader Resource Management. COO Will Eaton reported seamless collaboration, anticipating increased enterprise value. BERI and FTS also renewed and extended credit facilities until 2024 to support operations in the Southeast. BERI signed a letter of intent for a joint venture in hydrogen distribution, aiming to enter the green energy market. To raise capital for integration and expansion, BERI plans a $25 million preferred stock offering, as stated by CEO Scott M. Boruff.
Blue Earth Resources Inc. (BERI) announced the acquisition of Fuel Trader Supply, LLC (FTS) and its affiliate Fuel Trader Resource Management, Inc. (FTRM) for a combination of cash and BERI stock. FTS, a leading supplier of gasoline and diesel, reported revenues of $142 million in 2021, while FTRM reported $1 million. The acquisition aims to enhance product offerings, streamline operations, and increase revenues. BERI plans a public offering with EF Hutton acting as underwriter. The deal received unanimous board approval, solidifying existing partnerships and expanding market reach.
Blue Earth Resources (OTCMKTS: BERI) announced a strong financial performance for the quarter ending May 31, 2022, with net sales rising by $10.96 million (102%) and a 66% increase in gallons sold compared to the previous quarter. The company reported a gross margin of $0.030 per gallon, surpassing the industry average of $0.024. They also executed their first branded fuel supply agreement under a new BP contract, expecting sales of approximately 120,000 gallons per month. The CEO highlighted significant improvements in sales despite challenges in credit terms within the industry.
Blue Earth Resources, Inc. (OTCMKTS: BERI) announced its annual financial results for the fiscal year ending February 28, 2022. Notable highlights include a net sales increase of $25,999,817 and gross gallons sold rising by 9,103,968 compared to 2021. The company raised $1,694,000 in capital through common stock sales. Despite achieving significant growth in sales, the net profit margin was approximately $0.022/gallon, slightly below the industry average. The company expanded its customer base to 41 active customers across seven states.
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