Extreme Biodiesel, Inc. Reports Strong Operations and Revenues

Rhea-AI Summary

Extreme Biodiesel (XTRM) announced strong financial results for the fiscal year ending December 31, 2021. Revenues rose to $13,470,710, a 9% increase from $12,342,160 in 2020. Gross profit surged 59% to $2,559,435, and net earnings more than doubled to $996,019. The company reported year-end assets of $8,222,953, up 52% from the previous year. Additionally, 17 new homes are under construction, with many expected to complete in the second quarter of 2022. CEO Vinnie Angelos expressed confidence in continued growth and operational excellence in 2022.

Positive

• Revenue increased by 9% to $13,470,710 in 2021.
• Gross profit grew by 59% to $2,559,435.
• Net earnings more than doubled to $996,019.
• Year-end assets rose by 52% to $8,222,953.

Negative

• None.

Boise, ID, March 17, 2022 (GLOBE NEWSWIRE) -- Extreme Biodiesel, Inc. (OTC Pink: XTRM) Company’s Board of Directors provides this update to shareholders and the public.

The Company is committed to building shareholder value, and we see no need for any stock split in the foreseeable future. We are very pleased with the company’s financial and operating results for the fourth quarter and fiscal year ended December 31, 2021. Our 2021year end revenues are up $13,470,710 from 2020 revenues of $12,342,160 a 9% increase. We had a significant change as our 2021 gross profit grew to $2,559,435 from the previous years gross profit of $1,611,149 a 59% increase. Our year end 2021 net earnings have more then doubled to $996,019 from the previous year’s earnings of $299,140. Our end of year assets are $8,222,953 up from last year’s assets of $5,397,340 a 52% increase. We have demonstrated consistent year on year growth and the company’s cash flow hasn’t been stronger putting us in a better position than ever before. Every aspect of our business for 2022 is moving at a higher rate from the previous year. We are off to a great start for the first quarter of 2022. We have started 17 new homes with many under contract and expected to be completed in the second quarter. We will be providing more updates. We are very confident for our continued success through out 2022.

Vinnie Angelos, CEO, stated “We are very pleased to deliver another strong year of financial performance for our shareholders, We continued to staying focused on the financial discipline and operational excellence that has defined our approach. We strengthened an already solid balance sheet through our operating cash flow generation and made great progress across all four pillars of our strategic growth plan.”

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 were Extreme Biodiesel's 2021 revenues?

Extreme Biodiesel reported 2021 revenues of $13,470,710, a 9% increase from the previous year.

How much did Extreme Biodiesel's net earnings increase in 2021?

Net earnings for Extreme Biodiesel more than doubled to $996,019 in 2021.

What is the gross profit for Extreme Biodiesel in 2021?

Extreme Biodiesel's gross profit for 2021 was $2,559,435, reflecting a 59% increase from the prior year.

What are Extreme Biodiesel's year-end assets for 2021?

The company reported year-end assets of $8,222,953, up 52% from the previous year.

What new projects are planned for Extreme Biodiesel in 2022?

Extreme Biodiesel has started 17 new homes, many of which are expected to be completed in the second quarter of 2022.