Titan NRG, Inc. (TTNN) Announces Milestone Reached With Record December Revenue
Titan NRG, Inc. (OTC: TTNN), a downstream energy and transportation holding company, reported gross revenues exceeding one million dollars in December. This achievement was attributed to record asset utilization and disruptions in supply chains, as noted by President Alex Majalca Jr. The company also initiated an employee ownership program, allowing employees to receive stock-based compensation and bonuses. This move aims to enhance productivity and ensure financial stability, with no need to sell stock for operational continuity.
- Gross revenue exceeded one million dollars in December.
- Record asset utilization reported, driving revenue growth.
- Initiated employee ownership program to enhance productivity.
- None.
Tucson, Arizona, Jan. 09, 2023 (GLOBE NEWSWIRE) -- Publicly traded Titan NRG, Inc. (OTC: TTNN) ("Titan NRG") operating as a downstream energy and transportation holding company through its wholly-owned subsidiaries, announces a milestone reached with December gross revenue exceeding one million dollars.
“We’ve been seeing record gross revenue numbers with NRG Dynamics due to supply disruptions, creating longer hauls. We also have some of the highest asset utilization we've ever seen and it’s fueling record numbers.” said Alex Majalca Jr., Titan NRG’s President, and CEO. “We’re excited to see what 2023 brings and look forward to tackling the challenges that may arise. We have an amazing team in place that I’m very proud of.”
Titan NRG, Inc. also announces the start of an employee ownership program. Some employees are now receiving partial compensation in stock, and bonuses are being awarded in stock. “I’m excited to see more of our team having ownership in the company. I feel it’s important for productivity and efficiency when team members do have ownership in the company they work for. There will be some minor changes to the share structure to do this. We just want to make sure people know we don’t need to sell stock to keep the lights on.” said Alex Majalca Jr., Titan NRG’s President, and CEO.
Contact:
Alex R. Majalca Jr.
President/Chief Executive Officer
Titan NRG, Inc.
alex@titannrg.com
About Titan NRG Inc.: Titan NRG is a holding company that operates as a downstream energy and transportation company through its wholly owned subsidiaries. NRG Dynamics currently has 25+ transports operating in 9 states. APE Fuels offers retail and commercial propane serving southern AZ with 1500+ leased tanks and 2500+ customers. Vespene with wholesale purchasing and sales of LPG products. NRG Rail has a long-term lease on a new 18 car rail facility in Tucson, Arizona with an approved and permitted 1.2 mm gallons of propane/butane storage.
We're focused on vertical integration while expanding our operations to cover everything from the refinery to retail. This business model is a win for our customers, company, and shareholders. Additionally, this model can be replicated in other regions.
www.titannrg.com
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NOTES ABOUT FORWARD-LOOKING STATEMENTS
Safe Harbor Statement: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with OTC Markets. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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