DEEP GREEN ("DGWR") Executes on Plan and Releases 2021 Financial Results

Rhea-AI Summary

Deep Green Waste & Recycling, Inc. (DGWR) announced its 2021 financial results, reporting $363,000 in revenue and $193,000 in gross profit, with notable performance in the fourth quarter. Total assets surged from $15,000 in 2020 to $1.6 million in 2021. The company attributed growth to strategic acquisitions, including Amwaste, Inc. and Lyell Environmental Services, which helped in achieving positive cash flow. In Q4 alone, DGWR recorded $240,000 in operating revenue and $130,000 in gross profit, marking a significant turnaround.

Positive

• Achieved $363,000 in total revenue for 2021, a significant increase from $0 in 2020.
• Generated $193,000 in gross profit for 2021.
• Total assets increased from $15,000 in 2020 to $1.6 million in 2021.
• Raised $1.8 million in capital for acquisitions and infrastructure investment.

Negative

• Dependence on successful integration of acquired companies to sustain growth.
• Risks related to continued capital raising and maintaining operations.

SAINT SIMONS ISLAND, GA / ACCESSWIRE / April 18, 2022 / Deep Green Waste & Recycling, Inc. (OTCQB:DGWR) today announced the filing of the Company's Annual Report on Form 10-K for 2021. DGWR reported $363k in revenue and $193k in gross profit for 2021, mostly in the 4^th quarter, compared respectively to $0 revenue and gross profit in 2020. DGWR also reported an increase in total assets from $15k in 2020 to $1.6 million for 2021.

"Approaching 2021, we had set out to restart operations with a richer gross profit model by acquiring and developing businesses that provide direct services to the market," stated David Bradford, President and COO. "Throughout the year we sought out, negotiated, and closed the critical acquisitions to refocus and energize the Company on a sustainable high growth path with high gross profit and highly scalable enterprises. We believe and are now showing that our first two acquisitions are bearing that out. Thanks to the creativity and collaboration of our financing partners, J.H. Darbie & Co., Quick Capital, and BHP Capital, who helped us get DGWR back on track and have helped set the stage for our next rounds of growth."

Deep Green acquired Amwaste, Inc., a Georgia based debris removal company in February 2021 and closed its acquisition of Lyell Environmental Services, Inc., a Nashville based environmental abatement and remediation provider in October.

Bill Edmonds, Chairman and CEO stated, "This past year was huge for us. We were able to raise $1.8 million in capital to fund acquisitions and invest in infrastructure to jump-start some positive cash flow businesses. In the fourth quarter alone, we sprang to life with over $240k of operating revenue and $130k of gross profit and have now started down the path of accelerating cash flow growth in our newly acquired companies and adding more to the mix."

SAFE HARBOR STATEMENT

This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results or implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

For information, please contact:
David Bradford, President
Deep Green Waste & Recycling, Inc.
260 Edwards Plz #21266
Saint Simons Island, GA 31522

Phone: (833) 304-7336 / (833) 30-GREEN
Email: Investor@DeepGreenWaste.com

SOURCE: Deep Green Waste & Recycling, Inc.

View source version on accesswire.com:
https://www.accesswire.com/697892/DEEP-GREEN-DGWR-Executes-on-Plan-and-Releases-2021-Financial-Results

FAQ

What were Deep Green Waste & Recycling's revenues for 2021?

Deep Green Waste & Recycling reported revenues of $363,000 for 2021.

How much gross profit did DGWR generate in 2021?

DGWR generated a gross profit of $193,000 in 2021.

What acquisitions did Deep Green Waste & Recycling make in 2021?

Deep Green acquired Amwaste, Inc. in February 2021 and Lyell Environmental Services, Inc. in October 2021.

What were the fourth-quarter results for DGWR in 2021?

In the fourth quarter of 2021, DGWR recorded $240,000 in operating revenue and $130,000 in gross profit.