Verde Bio Holdings, Inc. Discusses First Quarter Financial Results

Rhea-AI Summary

Verde Bio Holdings, Inc. (OTC:VBHI) has announced it's current with the SEC and has no long-term debt. In the first quarter, the company reported mineral and royalty income of $64,000. CEO Scott Cox noted substantial increases in commodity prices and expects full revenue from their properties soon, especially in the Marcellus/Utica and Haynesville Shale sectors. The company is also exploring future acquisitions. Despite previous delays in filings, improvements in their processes are anticipated to enhance future operations.

Positive

• Total assets have more than doubled compared to last year's first quarter.
• Currently long-term debt free.
• Anticipated full pay status on majority of properties.
• Significant increases in commodity pricing, especially for natural gas.

Negative

• Past delays in revenue transfer processes.
• Frustration over misinformation affecting company perception.

- No Long-Term Debt, Company Current with SEC -

Frisco, Texas, Oct. 07, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Verde Bio Holdings, Inc. (OTC:VBHI), a growing oil and gas Company, said it is now current with the U.S. Securities & Exchange Commission, total assets have more than doubled compared to last year’s first quarter, and Verde is long-term debt free.

Mineral and royalty income in the first quarter totaled $64,000.  “A 10-Q covers a three-month period of time only; May through July 2021.  We receive revenue through a transfer process that can cause delays.  We have announced 16 separate transactions in news releases and we anticipate being in full pay status on the majority of our properties during the current three-month period,” said Scott Cox, CEO.

“There have been drastic increases in commodity pricing.  As we receive full revenue from all our properties, especially natural gas assets in Marcellus/Utica and the Haynesville Shale sector, we believe our investors will be pleased by the results,” Mr. Cox said.  Verde Bio Holdings’ CEO said the Company continues to examine many possible future acquisitions.

“The recent 10-K and this 10-Q were a learning curve, a new process for VBHI.  We did not anticipate the delays and we believe we now have the necessary teams in place to not be in the position of having to play catch-up,” Mr. Cox stressed.  “There is frustration, however, with the amount of misinformation we see on so-called message boards, so obviously promulgated by shorts and others who want to damage this Company.  If you have a question, please ask us, do not depend on posters who simply cannot read and understand a 10-Q filing,” Mr. Cox concluded.

About Verde Bio Holdings, Inc. Verde Bio Holdings, Inc. (OTC: VBHI) is a growing U.S. Energy Company based in Frisco, Texas, engaged in the acquisition and management of Mineral and Royalty interests in lower risk, onshore oil and gas properties within the major oil and gas plays in the U.S. The Company’s dual-focused growth strategy relies primarily on leveraging management’s expertise to grow through the strategic acquisition of revenue producing royalty interest and strategic and opportunistic non-operated working interests.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

Statements in this press release that are not strictly historical are “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These statements involve a high degree of risk and uncertainty, are predictions only and actual events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include the uncertainty regarding viability and market acceptance of the Company’s products and services, the ability to complete software development plans in a timely manner, changes in relationships with third parties, product mix sold by the Company and other factors described in the Company’s most recent periodic filings with the Securities and Exchange Commission, including its 2021 Annual Report on Form 10-K and quarterly reports on Form 10-Q.

Contact:

Paul Knopick E & E Communications

pknopick@eandecommunications.com

940.262.3584

FAQ

What is the latest financial update for Verde Bio Holdings (VBHI)?

Verde Bio Holdings recently stated it is current with the SEC and reported $64,000 in mineral and royalty income for the first quarter.

How has Verde Bio Holdings' asset situation changed?

The company's total assets have more than doubled compared to the first quarter of the previous year.

Is Verde Bio Holdings dealing with any debt?

No, Verde Bio Holdings reported that it is long-term debt free.

What effects do recent commodity price increases have on VBHI?

The increases in commodity prices are expected to positively impact revenue from their natural gas properties.

Are there any operational challenges reported by VBHI?

Yes, there were past delays in revenue transfers, but the company aims to improve its processes.