Perpetual Industries Reports Solid Third-Quarter Financial Growth
AUBURN, Ind., Nov. 18, 2021 – Perpetual Industries Inc. (OTCMARKETS: PRPI) announced its Q3 2021 financial results, showcasing significant growth. Gross revenues surged by $5,142,718, with gross profits increasing by $2,869,103 compared to the same period in 2020. The company reported a net income of $566,676, reflecting a remarkable 443% growth year-over-year. Cash and total current assets rose significantly, with cash at $3,471,679 (up 489%) and current assets at $3,553,323 (up 450%). The leadership highlighted the ongoing commitment to operational strategies aimed at sustainable, long-term value creation.
- Gross revenues increased by $5,142,718 in the nine months ending Sept. 30, 2021, over the same period in 2020.
- Gross profits rose by $2,869,103 in the nine months ending Sept. 30, 2021, compared to the same period in 2020.
- Net income for Q3 2021 was $566,676, a 443% increase from Q3 2020.
- Cash increased to $3,471,679, up 489% over year ending December 2020.
- Total current assets were $3,553,323, reflecting a 450% increase over year ending December 2020.
- None.
AUBURN, Ind., Nov. 18, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- Perpetual Industries Inc. (OTCMARKETS:PRPI) (“Perpetual” or the “Company”), a diversified research and development company of energy-efficient technologies and products, is pleased to announce its financial and operating results for the third quarter of 2021.
Third Quarter 2021 Highlights for the Period Ending Sept. 30, 2021:
- Gross revenues increased
$5,142,718 in the nine months ending Sept. 30, 2021, over the same period in 2020 - Gross profits increased
$2,869,103 in the nine months ending Sept. 30, 2021, over the same period in 2020 - Net income recorded of
$566,676 in the three months ending Sept. 30, 2021, a growth of443% over the same period in 2020
- Cash reported on a consolidated basis of
$3,471,679 , an increase of489% over year ending December 2020.
- Total current assets recorded of
$3,553,323 , an increase of450% over year ending December 2020.
"Our continued growth is a testament to the strength of our divisions and our commitment to the company’s operational plan,” said Brent Bedford, Perpetual’s chief executive officer. “We see significant opportunities ahead to continue building sustainable, long-term value for our stakeholders.”
“Our team has delivered another outstanding result in the third straight quarter of 2021, which demonstrates the successful execution of our business strategies,” said Trip Thomas, Perpetual’s chief financial officer.
Read Perpetual Industries’ Q3 2021 financial report here
About Perpetual Industries Inc.
Incorporated in Nevada and based in Auburn, Indiana, Perpetual Industries Inc. (OTCMARKETS: PRPI) is an incubator for the development of new and innovative energy-efficient technologies. Our mission is to “perpetuate industry” by bringing value-added technologies to market. At the Company’s core is a proprietary technology known as the XYO Mechanical Balancing Technology, designed specifically to dynamically eliminate vibration in rotating equipment to create energy-efficient, environmentally responsible products. We are expanding our expertise and knowledge of energy-efficient technology by developing low-cost, green energy-powered solutions for a variety of industries, including renewable energy, blockchain mining, artificial intelligence, graphic rendering, internet of things (IoT) and cloud computing, while continuing our research, development and commercialization of the XYO Technology in key applications.
For more information about Perpetual and its divisions, please visit www.perpetualindustries.com.
Forward-Looking Statements
Certain statements in this press release constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended; Section 21E of the Securities Exchange Act of 1934; and the Private Securities Litigation Reform Act of 1995; as well as “forward-looking information” as such term is defined in applicable U.S. and Canadian securities legislation. We may use words such as “may,” “would,” “could,” “should,” “potential,” “will,” “seek,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “expect” and variations of these words and similar expressions to identify a forward-looking statement. Such statements reflect the Company’s current views and intentions with respect to future events and current information available to the Company and are subject to certain risks, uncertainties and assumptions, including, without limitation: the conditions to closing of the transaction being satisfied, including obtaining all necessary approvals for the transaction. Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking information or statements prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information or statement is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking information or statements. The forward-looking information and/or statements included in this press release are made as of the date of this press release, and the Company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.
For media, press inquiries and further information, please contact:
Investor Relations
Perpetual Industries Inc.
Phone: 702-707-9811
Email: info@perptualindustries.com
Corporate Communications:
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Los Angeles, California
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310.299.1717 Office
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