The Sustainable Green Team, LTD. Reports $35.5m in Revenue and $120.3m in Assets for its Fiscal 2022 Audited YE and Announces its First Annual Shareholder Meeting

Rhea-AI Summary

The Sustainable Green Team, LTD. (OTCQX: SGTM) reported significant growth in its audited fiscal 2022 results, with Net Revenue reaching $35,513,231, an 11.24% increase from 2021. Gross Profit soared to $8,000,152, marking a dramatic 505.54% rise. The company achieved a Net Income of $8,901,214, up 70.28% year-over-year. Total Assets increased to $120,365,084, an impressive 80.17% growth. Notably, Outstanding Shares decreased by 17.5% to 74,631,743.

SGTM has scheduled its first Annual Shareholder Meeting for May 12, 2023, at 9:00 AM ET, to discuss these results and the outlook for 2023.

Positive

• Net Revenue increased by 11.24% to $35,513,231.
• Gross Profit surged by 505.54% to $8,000,152.
• Net Income rose by 70.28% to $8,901,214.
• Assets grew by 80.17% to $120,365,084.
• Outstanding Shares decreased by 17.5% to 74,631,743.

Negative

• None.

Orlando, FL, April 18, 2023 (GLOBE NEWSWIRE) -- The Sustainable Green Team, LTD. (OTCQX: SGTM) (“SGTM” or the “Company”), a provider of environmentally conscious solutions in the arbor care, disposal, and recycling industries reports audited fiscal 2022 year end results (fiscal year ended December 31, 2022) and announces its first Annual Shareholder Meeting, to be held May 12, 2023, 9:00am Eastern Time.

Audited Fiscal 2022 Year End Results:

SGTM’s Net Revenue for the 2022 fiscal year end was $35,513,231, an increase of 11.24% in Net Revenue from $31,925,731 for the 2021 fiscal year end.

SGTM’s Gross Profit for the 2022 fiscal year end was $8,000,152, an increase of 505.54% in Gross Profit from $1,321,166 for the 2021 fiscal year end.

SGTM’s Net Income from operations for the 2022 fiscal year end was $8,901,214, an increase of 70.28% in Net Income from $5,227,362 for the 2021 fiscal year end.

SGTM’s Assets for the 2022 fiscal year end were $120,365,084, an increase of 80.17% in Assets from $66,805,152 for the 2021 fiscal year end.

SGTM’s Outstanding Shares for the 2022 fiscal year end was 74,631,743, a decrease of 17.5% from the Outstanding Shares of 90,460,425 for the 2021 fiscal year end.

Click to view audited disclosures, financial statements and notes

Annual Shareholder Meeting

SGTM will host a virtual Annual Shareholder Meeting to discuss its 2022 fiscal year end results, including 2022 highlights, and its upcoming 2023 outlook at 9:00am Eastern Time. To participate in the meeting please RSVP by clicking here.

Tony Raynor, SGTM’s Chief Executive Officer commented, "I am very proud of our team. Without them we wouldn’t be able to continue to grow our company year over year. I look forward to our first Annual Shareholder Meeting to discuss all that we have achieved during 2022, our plans for 2023, and talking to our loyal shareholders.”

About The Sustainable Green Team, Ltd.

The Company is a wholesale manufacturer and national supplier of wood-based mulch, soil, including the soil amendment products: HumiSoil^® and XLR8^® and are lumber products. The Company sells directly to mass merchandisers, home centers, hardware stores, nurseries, garden centers, convenience stores, food stores, and wholesale distributors. The Company’s primary corporate objective is to provide a solution for the treatment and handling of tree debris that has been historically sent to local landfills and disposal sites, creating an environmental burden and pressure on disposal sites around the nation. 
To learn more, please visit: https://www.thesustainablegreenteam.com or visit SGTM’s YouTube Channel.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. The Company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.

Company Contact
Nickolas S. Tabraue
Chief Compliance Officer and
Chief Investor Relations
(786).375.7281
ntabraue@sgtmltd.com

FAQ

What were SGTM's fiscal 2022 net revenue results?

SGTM reported net revenue of $35,513,231 for fiscal 2022, an increase of 11.24% from 2021.

How much did SGTM's gross profit increase in fiscal 2022?

SGTM's gross profit increased by 505.54% to $8,000,152 in fiscal 2022.

What is the net income reported by SGTM for fiscal 2022?

SGTM reported a net income of $8,901,214 for fiscal 2022, reflecting a 70.28% increase from the previous year.

When is SGTM's Annual Shareholder Meeting scheduled for?

SGTM's first Annual Shareholder Meeting is scheduled for May 12, 2023, at 9:00 AM Eastern Time.

What are SGTM's total assets as of fiscal 2022?

Sustainable Green Team reported total assets of $120,365,084 for fiscal 2022, an increase of 80.17%.