Extreme Biodiesel, Inc. Company’s progress and growth has never been better

Rhea-AI Summary

Extreme Biodiesel (XTRM) reports substantial growth through its subsidiary, North Star Homes, with a revenue increase of over 115% from $2,900,500 to $6,750,890 for the first half of 2021. The company highlights a robust rise in cash on hand, assets, and inventory. They are also increasing construction financing, indicating a strong future pipeline. However, delays in a planned name and stock symbol change are noted, attributed to operational demands and regulatory slowdowns.

Positive

• Revenue surged by 115% year-over-year, reaching $6,750,890.
• Increased cash reserves, assets, and inventory, positioning for future growth.
• Enhanced construction financing, indicating expansion capabilities.

Negative

• Delays in company name and stock symbol change due to operational busyness and regulatory slowdowns.

Boise, ID, Aug. 19, 2021 (GLOBE NEWSWIRE) -- Extreme Biodiesel, Inc. (OTC Pink: XTRM) - The Company’s Board of Directors provides this update to shareholders and the public.

The Company’s subsidiary, North Star Homes, LLC, 2021, experienced exceptional growth at the mid-year point.  Our financial statements for the period ended 6/30/2021 are our best ever. Our revenues were up 115% + over the same period last year ($6,750,890 versus $2,900,500 for the same period last year.  Every aspect of our business for 2021 is moving at a higher rate from previous reports.  Our revenue, our cash on hand, assets and inventory have all increased over prior periods. We have inventory in the form of work in process which will translate into more sales in future quarters.  An increase in construction financing reflects our ability to finance more housing starts and our net realized cash has increased as a result of careful planning and management of costs.  All of this growth and progress has been made possible because of the efforts of our team of experienced, knowledgeable people.  We have a strong leadership and the desire to run a company to its full potential. With hard work, determination, and sacrifice where necessary, we have built an operation that we are justly proud of. And we are just getting started!

North Star Homes was developed about 3 years ago with a mission to develop and build outstanding quality custom homes.  We are very proud and excited to be involved with North Star Homes.   It has developed into a well-run company with amazing progress and growth over these few years.  As we continue to work on developing North Star Homes, we look forward to a bright future for it as a quality custom home builder. We see ourselves turning our passion into creating homes our customers will be proud of for many years to come. We want to be that company that stands apart from other home builders, always providing excellence, working hard in providing top quality homes and doing our best to ensure the company’s future. We look forward to new opportunities for growth in 2021 and 2022.

Also, we are very excited to be moving forward with a company name change and a company stock symbol change and have begun that process for that corporate action with FINRA. We continue to make this a priority, although we have had some delays with the process.  One delay has simply been that we are very busy with planning and operating our business while it is growing at an unprecedented pace.  Another cause of delay has been the slow response time  of regulatory agencies caused by universal staff shortages as a result of Covid.

Vinnie Angelos, CEO, stated “We are very excited where we are at now, we continue to grow reaching higher levels faster than expected. We look forward to our future as an exceptional custom home builder

Vic Devlaeminck, CFO, stated, “These past few years I’ve witnessed the hard work the determination in having an exceptional team of people to work with.  We have been doing all the heavy lifting as we all work together for a better company in creating growth, stability.

Company’s websites  https://xtrm-northstar.com  https://www.northstaridaho.com please follow us on Twitter @XTRMBio.

Disclaimer: The Company relies upon the Safe Harbor Laws of 1933, 1934 and 1995 for all public news releases. The company may make forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are estimates that reflect the company’s best judgment based upon current information. All investments involve risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the company include, but are not limited to, government regulation; managing and maintaining growth; the effect of adverse publicity; litigation; competition; and other factors which may be identified from time to time in the company’s public announcements.

Contact:
Extreme Biodiesel, Inc.
info@xtrm-northstar.com

FAQ

What was the revenue increase for Extreme Biodiesel in 2021?

Extreme Biodiesel's revenue increased by over 115% in 2021.

What is the current revenue of North Star Homes, a subsidiary of Extreme Biodiesel?

North Star Homes reported a revenue of $6,750,890 for the period ending June 30, 2021.

What challenges is Extreme Biodiesel currently facing?

Extreme Biodiesel is experiencing delays in its name and stock symbol change due to operational demands and slow regulatory responses.