TRNF - TRNF STOCK NEWS

Taronis Fuels announced concerns regarding its stock price decline on December 22, 2021. The company, listed on OTC under the symbol TRNF, noted it had not issued new information that week and was unaware of the decline's cause. Trading volume was low, suggesting minimal trading activity contributed to the price drop. Taronis is collaborating with the OTC to investigate the situation and plans to update shareholders if a cause is identified.

Taronis Fuels announced the resignation of President and CEO Kevin Foti, effective December 10, 2021. Jered Ruyle will assume the role on an interim basis. Ruyle brings over 14 years in the packaged gas industry and has been with Taronis since January 2020. The company has extended its timeline for a full financial restatement and audit into 2022 due to data deficiencies in its IT system. Board Chairman Tobias Welo expressed disappointment at the delay but maintained confidence in Ruyle and the company's potential for growth in the industrial gas sector.

Taronis Fuels has announced a sale of $2.5 million in convertible notes to an institutional investor, featuring a 1% interest rate and a $7 conversion price per share. The company aims to strengthen its balance sheet despite not actively seeking capital. Additionally, Taronis is working on restating financial reports from 2019 and 2020, with completion expected by Q4 2021 or Q1 2022. Taronis plans to list on the NYSE American after becoming current in SEC filings, amid upcoming regulations that may limit trading liquidity for its stock.

Taronis Fuels (OTCQB: TRNF), a leader in renewable fuel production, announced a private placement of common stock, raising approximately $1 million. The company sold 173,913 shares at $5.75 each and used $941,105 of the proceeds to pay off outstanding secured convertible debentures from August 2020, which had an 18% interest rate. CEO Kevin Foti emphasized that this move aims to deleverage the company and reduce its capital costs, positioning Taronis for future profitability.

Taronis Fuels has appointed Kevin Foti as CEO and added Wilbur Ross to its Board of Directors. The company closed a $16.5 million private placement of common stock at $3.00 per share to reduce debt and fund growth initiatives. This capital will support the company's plans for uplisting by the end of 2021 and enhance its position in the industrial gases market. Taronis is also ceasing international operations to focus on more lucrative U.S. opportunities. The company aims for profitable growth with the new leadership team.

Taronis Fuels (OTCQB:TRNF) has appointed industry veterans Rick Steinseifer and Les Graff to its Board of Directors, effective immediately. Steinseifer, with 30 years in the gases sector, previously led mergers and acquisitions at Praxair, while Graff brings extensive acquisition experience from Airgas. The company anticipates their expertise will contribute to profitability and strategic growth. Concurrently, Mary Pat Thompson resigned from the board to focus on her role as CFO. The board now consists of seven directors, six of whom are independent.

Taronis Fuels (OTCQB: TRNF) has announced a settlement with Concerned Shareholders who own approximately 11.1% of its shares, resolving ongoing disputes. As part of the settlement, the board will expand to six members, including five designees from the shareholders. Newly appointed board members bring diverse financial and industry experience, expected to drive growth in the industrial gas distribution sector. The board is also set to restructure its committee memberships. Taronis aims to enhance shareholder value and focus on market opportunities in renewable fuel products.

Taronis Fuels, Inc. (TRNF) has appointed Edward J. Fred as its interim CEO, following the voluntary resignation of Scott Mahoney. Fred, who also retains his role as CFO, has a proven track record in public company leadership, including a prior role as CEO of a NYSE-listed aerospace company. His expertise is expected to support Taronis' growth strategies. The company is focused on providing renewable and safe fuel alternatives, significantly safer than acetylene, aligning with sustainability goals.

Taronis Fuels, Inc. (OTCQB:TRNF) responded to a report from Institutional Shareholder Services (ISS), which advised shareholders against the Activist Group's attempt to replace the Board of Directors. The ISS report highlighted risks associated with overhauling leadership, especially given TRNF's growth potential. The Taronis Board is focused on improving cash flow and anticipates significant sales growth in 2021. They urge shareholders to reject the Activist Group's consent solicitation, noting their lack of a detailed plan to run the company effectively.