Welcome to our dedicated page for SPOID news (Ticker: SPOID), a resource for investors and traders seeking the latest updates and insights on SPOID stock.
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SPO Networks, Inc. (OTC PINK:SPOI) is expanding its metal recycling division by leasing a 37-acre site in Missouri to establish a new facility featuring a powerful shredder that can process over 120 tons of ferrous materials per hour. CEO Tom Smith projects that this division could generate revenues exceeding $60 million annually once operational, which is expected to occur by late 2023. The facility aims to optimize material collection through automated systems, creating a sustainable income source for the company.
SPO Networks, Inc. (OTC:SPOI) reported a pretax income of $1.48 million for the first quarter of 2022, more than double the $648,449 from the same period in 2021. The company's net income for the quarter was $179,180. SPO Networks is expanding its operations in diversified industries, including waste management and the cannabis sector, with plans for rapid growth through its proprietary vertical market. The company aims to enhance its cannabis operations across various states, focusing on extraction and retail.
SPO Networks, Inc. (OTC PINK:SPOI) reported Fourth Quarter 2021 financials with revenue exceeding $6.8 million and pre-tax income at $1.2 million for the ten months ending December 31, 2021. Q4 revenue was over $1.9 million with a pre-tax income of $139,642. The company is pursuing opportunities in diversified industries, including a new cannabis and genetic seed operations venture, aiming for rapid growth in the cannabis market. CEO Tom Smith expressed confidence that revenue growth will continue into 2022.
