CW Petroleum Corp (CWPE): Reports 2021 First Six-Months Revenue of $4.2 Million Versus $3.4 Million in 2020 for a 21% Growth

Rhea-AI Summary

CW Petroleum Corp (OTCQB: CWPE) reported its financial results for the first six months of 2021, achieving gross sales of approximately $4.2 million, a 21% increase from $3.4 million in the same period of 2020. The company generated profits of $20,949 and an EBITDA of $124,111. CEO Chris Williams expressed optimism regarding their growth trajectory and plans to raise capital through a Global Investment Bank to expand market presence and work towards qualifying for NASDAQ. The results indicate a strong financial health trajectory for the company.

Positive

• Gross sales increased to approximately $4.2 million, a 21% growth year-over-year.
• Generated profits of $20,949 and EBITDA of $124,111 in the first six months of 2021.
• Plans to raise capital to facilitate market expansion and enhance inventory.

Negative

• None.

Katy, TX, Sept. 16, 2021 (GLOBE NEWSWIRE) -- CW Petroleum Corp (OTCQB: CWPE), a leading provider of Proprietary No-Ethanol Fuels and Biofuel, has reported its six-month year-to-date financial results ending June 30, 2021. At the close of the second quarter, gross sales reached approximately $4.2 million against $3.4 million reported in the first six months of 2020, for a 21-percent increase.

Chris Williams, Chief Executive Officer of CW Petroleum Corp, shared, “We are encouraged by the results announced today that continue to show an upward trajectory in the growth and robust financial health of our company. We remain working alongside a Global Investment Bank to raise capital to expand our footprint throughout new markets in the United States and work towards our ultimate goal of qualifying for the NASDAQ.”

Chris Williams added, “As we infuse the company with new working capital, it will allow us to acquire the necessary inventory to expand sales of Biodiesel, Gasoline, Diesel Fuel, and Specialty Fuel Blends while utilizing trucking operations and pipelines to transport refined products. As we work in this exciting direction, we look forward to reaching our projected goals and strongly believe the stock price will reflect the progress.”

First Six-Months 2021 Highlights

• As of June 30, 2021, sales were $4.2 million for the first six months vs. $3.4 million for the six months ended June 30, 2020.
  
  
• CW Petroleum Crop had profits of $20,949 and an EBITDA of $124,111 for the six months ended June 30, 2021.
  

2021 Form 1-SA

Media Contact
The Pontes Group
Lais Pontes Greene (954) 960-6083
lais@thepontesgroup.com
www.thepontesgroup.com

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 supplies and distributes Biodiesel, Biodiesel Blends, Renewable Gasoline, and a Proprietary EPA Approved Reformulated No Ethanol Gasoline to distributors, convenience stores, marinas, and end-users.

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 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.

FAQ

What are the financial results for CW Petroleum Corp in 2021?

CW Petroleum Corp reported gross sales of approximately $4.2 million for the first six months of 2021, a 21% increase from the prior year.

How much profit did CW Petroleum Corp make in the first half of 2021?

The company generated profits of $20,949 for the six months ended June 30, 2021.

What is the EBITDA for CW Petroleum Corp for the first half of 2021?

CW Petroleum Corp reported an EBITDA of $124,111 for the first six months of 2021.

Is CW Petroleum Corp planning to expand its market presence?

Yes, CW Petroleum Corp is working alongside a Global Investment Bank to raise capital for market expansion.

What are the future goals of CW Petroleum Corp?

The company aims to qualify for NASDAQ and expand sales of various fuel products.