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Galenfeha has engaged with New Green Holdings, acquiring a 10% stake to collaborate on the Hemp business. New Green Holdings aims to cultivate and sell Hemp products in the U.S., led by entrepreneur Tracy S. Anderson, who has a successful background in the medical field. The company is also working on fundraising efforts to support its initiatives and has launched a website to educate the public on Hemp products. Additional clients unrelated to Hemp have been acquired by Galenfeha.
Galenfeha, Inc. (GLFH) reported a 32.3% rise in Q3 2021 revenue, totaling $696,442, with a net loss reduced by 45% to $(62,865). Key drivers included a new contract for Eminent Auto Group and increased billable hours from Poff’s Power Solutions. The guidance for Q4 indicates expected revenue between $1.2 million and $1.5 million and projected earnings between $(0.005) and $0.004. Subsequently, CEO Ryan Tyszkow acquired over 10 million shares of GLFH, indicating confidence in the company’s future.
Galenfeha, Inc. (OTC Pink: GLFH) announces its wholly-owned subsidiary, Nexgen Environmental Solutions, has acquired Poff’s Power Solutions, LLC, a North Dakota-based company. The acquisition, effective May 1, 2021, enables Nexgen to expand its oil field services portfolio and is part of a strategy to acquire small to mid-size companies in the energy sector. Poff’s reported sales of $229,038 and EBITDA of $70,000 for the six months ending June 30, 2021. Galenfeha is establishing operational facilities in Dickenson, ND, and Midland, TX, with 15,000 square feet of operational space.
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