CW Petroleum Corp (CWPE) Q4 2023 Update

Rhea-AI Summary

CW Petroleum Corp (CWPE) Announces Strong Start to Q4-2023 with Revenues Exceeding 2022 Total, On Track for $9-10MM for Fiscal Year 2023. Management Seeks Uplist to Nasdaq or NYSE.

Katy, Texas, Nov. 14, 2023 (GLOBE NEWSWIRE) -- CW Petroleum Corp (CWPE) (the “Company”), a leading provider of Specialty Renewable and Hydrocarbon Motor Fuels, today announced unaudited financial results for the start of the fourth quarter of 2023.

As of October 31, 2023, the Company’s revenues were ~$8.2MM, exceeding total revenues for fiscal year 2022 ($7,969,000). The Company is on track to record revenues between ~$9MM - ~$10MM for the fiscal year ending 2023.

The Company will report its Q4-2023 unaudited financial results in January 2024.

The Company’s 2023 financial audit will start in January 2024 and report its SEC Form 1-K on or before April 30, 2024.

Management Commentary:

On 11/13/2023, The Company submitted a Form RW (Withdrawal of Registration Statement) to the Security and Exchange Commission (SEC) for its’ pending Form S-1. The Company continues to seek a Sole Bookrunner to Uplist to Nasdaq or NYSE.

*As of 10/1/2023, OTC Markets has assigned “Penny Stock Exempt” Status to CW Petroleum Corp (CWPE)*

Detailed information about the Company OTC Markets at:

CWPE News
CWPE Disclosures
CWPE Security Detail

For additional information, visit our website at cwpetroleumcorp.com, email: investor@cwpetroleumcorp.com , or call 281-817-8099

About CW Petroleum Corp

CW Petroleum Corp was incorporated in the State of Texas on April 29, 2005 and began operations in 2011. On April 14, 2018, CW Petroleum Corp was incorporated in the State of Wyoming. On April 15, 2018, the Texas corporation became a wholly-owned subsidiary of the Company through a share exchange. CW Petroleum Corp (Wyoming) is a holding company and through our wholly-owned subsidiary, we supply and distribute biodiesel, biodiesel blends, ultra-low sulfur diesel, gasoline blends, renewable gasoline, and a proprietary EPA-approved reformulated no ethanol gasoline to distributors, convenience stores, and marinas.

Forward-Looking Statements

Certain statements in this press release may contain “forward-looking statements” regarding future events and our future results. All statements other than statements of historical facts are statements that could be deemed to be forward-looking statements. These statements are based on current expectations, estimates, forecasts, and projections about the oil and gas markets, energy markets, and other markets in which we operate and the beliefs and assumptions of our management. Words such as “expects,” “anticipates,” “targets,” “goals,” “projects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “endeavors,” “strives,” “may,” or variations of such words and similar expressions are intended to identify such forward-looking statements. Readers are cautioned that these forward-looking statements are subject to a number of risks, uncertainties, and assumptions that are difficult to predict, estimate, or verify. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. Such risks and uncertainties include those factors described in the Company’s most recent annual report on Form 1-K, which may be amended or supplemented by subsequent semiannual reports on Form 1-SA or other reports filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements. For more information, please refer to the Company’s filings with the Securities and Exchange Commission.

No Offer or Solicitation

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

FAQ

What are CW Petroleum Corp's unaudited financial results for the start of Q4-2023?

As of October 31, 2023, the Company’s revenues were ~$8.2MM, exceeding total revenues for fiscal year 2022 ($7,969,000).

What is CW Petroleum Corp's projected revenue for fiscal year 2023?

The Company is on track to record revenues between ~$9MM - ~$10MM for the fiscal year ending 2023.

What is the status of CW Petroleum Corp's Uplist to Nasdaq or NYSE?

The Company continues to seek a Sole Bookrunner to Uplist to Nasdaq or NYSE.

What is the current status of CW Petroleum Corp's stock in OTC Markets?

As of 10/1/2023, OTC Markets has assigned “Penny Stock Exempt” Status to CW Petroleum Corp (CWPE).