SPO Networks, Inc. (SPOI) Timely Files First Quarterly Report On OTCMarkets; Shows Pretax Income From Operations Of $1.48 Million+ During First Quarter 2022

Rhea-AI Summary

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.

Positive

• Pretax income increased to $1.48 million for Q1 2022, compared to $648,449 in Q1 2021.
• Net income for Q1 2022 was $179,180.
• The company is actively pursuing acquisitions and diversifying its revenue streams.

Negative

• None.

The Pretax Income Through Three Months Ended March 31, 2022, Was $1.48+ Million

FARMINGTON, AR / ACCESSWIRE / May 26, 2022 / SPO Networks, Inc. (OTC:SPOI) ("SPOI" or the "Company"), a publicly-traded company that is actively exploring potential acquisitions and opportunities in diversified industries, including an established revenue generating waste/recycling subsidiary plus a newly launched medical and recreational cannabis and genetic seed operations entity with the expectation of rapid expansion in the cannabis industry utilizing a proprietary vertical market from cultivation facilities, to wholesale and retail dispensaries, announced that it has timely filed its Quarterly Report for the First Quarter of 2022.

Tom Smith CEO of SPO Networks Inc. said: "Our filing shows that we are growing at increased pace, adding assets we and hope to continue substantial growth through next quarter and beyond. The Company is coming off a blockbuster Q1, where we showed a:

• Pretax income of $1.487,672 million for the Three Months Ended March 31, 2022[1] Compared to $648,449 Three Months Ended March 31, 2021[2] showing over a doubling increase in revenue.
• Net income of $179,180 for the Three Months Ended March 31, 2022
• We have been adding assets and increasing revenues and we and hope to continue substantial growth through next quarter and beyond."

SPO Networks, Inc.

SPO Networks, Inc. is actively exploring potential acquisitions and opportunities in diversified industries, including solid waste, scrap metal recycling and demolition with special waste remediation. Additionally, SPO maintains the belief that patients and customers have a right to high quality, economical, and clinically-validated cannabis products. Towards this, SPO aims at medical and recreational cannabis and genetic seed operations with the expectation of rapid expansion in the cannabis industry. SPO is developing its cultivation facilities for extraction operations, wholesaling of cannabis and cannabis extracts in Colorado to licensed retailers and wholesalers. Eventually, the goal is to expand to retail product manufacturing and dispensary operations in several states, allowing SPO to offer a pricing strategy that will be attractive to consumers large and small.

For more information, please go to: https://www.spoinow.com.

FORWARD-LOOKING STATEMENTS:

This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to future events, including our ability to raise capital, or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual

results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

For a discussion of these risks and uncertainties, please see our filings with the OTC Markets Group Inc. Our public filings with the OTC Markets Group Inc are available from commercial document retrieval services and at the website maintained by the OTC Markets at https://www.otcmarkets.com/stock/SPOI/disclosure

Contact:

www.spoinow.com
479-443-6000
info@spoinow.com

[1] https://www.otcmarkets.com/otcapi/company/financial-report/333442/content

[2] https://www.otcmarkets.com/otcapi/company/financial-report/284666/content

SOURCE: SPO Networks, Inc.

View source version on accesswire.com:
https://www.accesswire.com/702865/SPO-Networks-Inc-SPOI-Timely-Files-First-Quarterly-Report-On-OTCMarkets-Shows-Pretax-Income-From-Operations-Of-148-Million-During-First-Quarter-2022

FAQ

What was SPO Networks, Inc. pretax income for Q1 2022?

SPO Networks, Inc. reported a pretax income of $1.48 million for the three months ended March 31, 2022.

How does the Q1 2022 net income of SPOI compare to last year?

The net income for Q1 2022 was $179,180, showing growth from previous periods.

What industries is SPO Networks expanding into?

SPO Networks is expanding into waste management and the cannabis sector, including medical and recreational cannabis operations.

What is the future growth strategy for SPO Networks, Inc.?

SPO Networks aims for substantial growth by expanding its cannabis operations and exploring acquisitions in diversified industries.