Digital Utilities Ventures Reports Strong Fiscal Year 2024 - Advancing Leadership in Green Technologies

Rhea-AI Summary

Digital Utilities Ventures (OTC: DUTV) reported strong financial results for fiscal year 2024, ending May 31. The company achieved net income of $896,869, largely due to merger activities. Post-merger sales for two months totaled $291,730, with an average monthly profit of $94,195 from Terreplenish and Easy Nano Void System sales.

DUTV completed strategic acquisitions, expanding its portfolio in sustainable technologies. The company's Easy Nano Void Technology showed promising results in water cleanup, agriculture, and oil well production enhancement. Notable projects include algae remediation at Arrowhead Country Club and addressing composting challenges in California.

CEO Mark Gaalswyk emphasized the company's focus on increasing sales of Terreplenish and Easy Nano Void System products to achieve steady, recurring monthly profits before expanding into more complex technologies. DUTV aims to expand its marketing and global awareness campaign in 2025.

Positive

• Net income of $896,869 for fiscal year 2024
• Post-merger sales of $291,730 in two months
• Average monthly profit of $94,195 from Terreplenish and Easy Nano Void System sales
• Successful strategic acquisitions expanding the company's portfolio
• Promising results from Easy Nano Void Technology in various applications
• Potential contract with Arcis Golf for nationwide golf course applications
• Demonstrated 150-500% increase in oil well production using Easy Nano Void 450 system

Negative

• None.

MANKATO, Minn., Sept. 23, 2024 (GLOBE NEWSWIRE) -- Digital Utilities Ventures, Inc. (OTC: DUTV), a leader in sustainable energy and environmental technologies, recently announced its financial results and corporate progress for the fiscal year ended May 31, 2024. The company demonstrated significant growth and strategic advancements, emphasizing its commitment to innovation and sustainable environment protecting technologies.

Financial Highlights:

• Revenue Growth: The company reported net income for the fiscal year ending May 31, 2024 of $896,869, with much of this net income due to merger activities including extinguishment of debt and return of shares to the treasury. The two-month post-merger sales for the company was $291,730, with an average “post-merger” per month profit on operations of $94,195. These revenues were generated from the sales of liquid microbial Terreplenish, and our Easy Nano Void System which can be used for lake clean up, oil well production enhancement, and numerous agricultural applications.
• Strategic Acquisitions: Digital Utilities Ventures successfully completed pivotal equity exchanges, enhancing its market position and expanding its portfolio. This includes acquiring a majority interest in Easy Energy Systems Technologies, LLC, Feed Earth Now, LLC, and Easy Modular Manufacturing, Inc. while setting a strong foundation for future growth. As future combined merged operations include numerous business activities similar to past operations, it is the intent of the combined DUTV entity to maintain the over $11 million dollars in historical loss carry forward to aid in the reduction of future income liabilities.

Operational Highlights:

• Digital Utilities Ventures continued to innovate within its core markets, developing technologies that enable more efficient solutions that dramatically reduce environmental pollutants. The company’s licensed and patented Easy Nano Void Technology has shown promising results in cleaning up bodies of water, improving agricultural output, and even dramatically enhancing the production of an existing oil well…all without the need for harmful chemicals.
• Regarding Note 8 from the Annual Report: Note 8 – Subsequent Events: After the reporting period, in July 2024, Digital Utilities Ventures engaged in a significant project with Arrowhead Country Club in Glendale, AZ. By using its proprietary technologies, Easy Nano Void and Terreplenish, Digital Utilities Ventures successfully remediated an algae-infested stenchy pond. This intervention not only resolved a longstanding community issue but also led to a contractual agreement with Arcis Golf, potentially expanding the application of these technologies across many golf courses nationwide. Furthermore, the project demonstrated that not only can Terreplenish replace conventional toxic fertilizers, but it can also be combined with our Easy Nano Void system to quickly clean up lakes, rivers, ponds, and waste lagoons.
• In August 2024, the company further demonstrated the effectiveness of its technologies in California, addressing composting challenges at a large-scale facility. This trial is anticipated to result in significant contracts, reinforcing the company's innovative solutions in waste and compost management.
• Lastly, Digital Utilities Ventures is experiencing increasing interest from oil well service companies with the recently manufactured Easy Nano Void 450 oil well enhancement system. This patented technology, which has undergone six months of testing by experienced oil industry partners on five different oil wells, has demonstrated the potential to increase the production of an existing oil well by 150 to 500%. Such enhancements could substantially reduce the need for new oil wells by maximizing the output from existing ones. Theoretically, rapid worldwide adoption of this revolutionary technology could eliminate the need to drill any new oil wells. This could aid in protecting environmentally sensitive regions from needless oil well exploration activities, while still making an abundant source of transitional petroleum available as the world migrates to long-term “climate friendly” forms of energy.
• These events reflect the company’s ongoing commitment to environmental solutions and represent significant potential for growth and expansion into new markets and industries.

Executive Statements: Mark Gaalswyk, CEO of Digital Utilities Ventures, stated, "This year has been transformative for Digital Utilities Ventures as we continue to execute our mission of pioneering sustainable technologies. With our strategic acquisitions and merger activities behind us, we can now focus on increasing sales and market awareness of our Terreplenish Liquid Microbial and Easy Nano Void System product lines. These two products will be our initial focus to enable our company to achieve a steady level of predictable, recurring monthly profits and cashflow before we then expand further into our more complex patented Solid Waste, Auto Segmentation carbon capture, Bio Energy technologies for the forest fire mediation and municipal solid waste industries. The Terreplenish microbial product line enables the replacement of 1/3 of conventional petroleum-based fertilizers that pollute our lakes and rivers. It will reduce irrigation needs by 20% while significantly reducing carbon emissions and increasing profits for our world’s agricultural farmers. Our Easy Nano Void technology can be used to rapidly clean up polluted lakes and rivers or even eliminate the need to drill any additional oil wells. We remain committed to our corporate mission of delivering high-performance, sustainable solutions that address the most pressing needs of environmental conservation and energy efficiency."

Future Outlook: Looking ahead to 2025, with the merger and significant product line validation completed in the past year behind us, Digital Utilities Ventures aims to expand its marketing and global awareness campaign. The company plans to leverage its strengthened portfolio, expanded sales rep network, and now tried and proven technological advancements to increase sales while providing enhanced shareholder value and customer/investor market awareness.

About Digital Utilities Ventures, Inc.: Digital Utilities Ventures is an innovator in sustainable technology solutions based in Mankato, MN. The company specializes in developing advanced technologies that support ecological sustainability and energy efficiency. Its many patented solutions serve a wide range of applications, from agricultural fertilizer replacement microbes to water clean-up technologies and enhanced climate-friendly energy production and enhancement.

Forward-Looking Statements

This press release includes statements that may constitute ''forward-looking'' statements, usually containing the words ''believe,'' ''estimate,'' ''project,'' ''expect'' or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include but are not limited to acceptance of the Company's current and future products and services in the marketplace, the ability of the Company to develop effective new products and receive regulatory approvals of such products, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.

For information on Easy Energy Systems, Inc.: www.easyenergysystems.com

For information on Easy Energy Finance, Inc.: www.easyenergyfinance.com

For more information, please contact:

Mark K. Gaalswyk, CEO
https://www.duventures.com
Phone: 952-400-6045
Email: info@duventures.com 

SOURCE : Easy Energy Systems, Inc.

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/e507995f-fc5e-4697-b0f2-a0ea785c209b

https://www.globenewswire.com/NewsRoom/AttachmentNg/31466ef9-90ee-4a31-8823-45f15c33ed53

FAQ

What was Digital Utilities Ventures' (DUTV) net income for fiscal year 2024?

Digital Utilities Ventures (DUTV) reported a net income of $896,869 for the fiscal year ended May 31, 2024, largely due to merger activities including extinguishment of debt and return of shares to the treasury.

How much were DUTV's post-merger sales for the two-month period in 2024?

DUTV's post-merger sales for the two-month period in 2024 were $291,730, generated from the sales of liquid microbial Terreplenish and the Easy Nano Void System.

What is the average monthly profit for DUTV's post-merger operations in 2024?

The average monthly profit for DUTV's post-merger operations in 2024 was $94,195, based on the two-month post-merger sales period.

What technologies does DUTV focus on according to the 2024 fiscal year report?

According to the 2024 fiscal year report, DUTV focuses on Terreplenish liquid microbial technology and the Easy Nano Void System, which can be used for lake cleanup, oil well production enhancement, and various agricultural applications.

What potential increase in oil well production does DUTV's Easy Nano Void 450 system demonstrate?

DUTV's Easy Nano Void 450 oil well enhancement system has demonstrated the potential to increase the production of an existing oil well by 150 to 500%, based on six months of testing on five different oil wells.