Katy, TX, Sept. 16, 2021 (GLOBE NEWSWIRE) -- CW Petroleum Corp (OTCQB:CWPE), a leading provider of Proprietary No-Ethanol Fuels and Biofuel, has reported its six-month year-to-date financial results ending June 30, 2021. At the close of the second quarter, gross sales reached approximately $4.2 million against $3.4 million reported in the first six months of 2020, for a 21-percent increase.
Chris Williams, Chief Executive Officer of CW Petroleum Corp, shared, "We are encouraged by the results announced today that continue to show an upward trajectory in the growth and robust financial health of our company. We remain working alongside a Global Investment Bank to raise capital to expand our footprint throughout new markets in the United States and work towards our ultimate goal of qualifying for the NASDAQ."
Chris Williams added, "As we infuse the company with new working capital, it will allow us to acquire the necessary inventory to expand sales of Biodiesel, Gasoline, Diesel Fuel, and Specialty Fuel Blends while utilizing trucking operations and pipelines to transport refined products. As we work in this exciting direction, we look forward to reaching our projected goals and strongly believe the stock price will reflect the progress."
First Six-Months 2021 Highlights
- As of June 30, 2021, sales were $4.2 million for the first six months vs. $3.4 million for the six months ended June 30, 2020.
- CW Petroleum Crop had profits of $20,949 and an EBITDA of $124,111 for the six months ended June 30, 2021.
About CW Petroleum Corp
CW Petroleum Corp supplies and distributes Biodiesel, Biodiesel Blends, Renewable Gasoline, and a Proprietary EPA Approved Reformulated No Ethanol Gasoline to distributors, convenience stores, marinas, and end-users.
Forward Looking Statements
Certain statements in this press release may contain "forward-looking statements" regarding future events and our future results. All statements other than statements of historical facts are statements that could be deemed to be forward-looking statements. These statements are based on current expectations, estimates, forecasts, and projections about the markets in which we operate and the beliefs and assumptions of our management. Words such as "expects," "anticipates," "targets," "goals," "projects," "intends," "plans," "believes," "seeks," "estimates," "endeavors," "strives," "may," or variations of such words and similar expressions are intended to identify such forward-looking statements. Readers are cautioned that these forward-looking statements are subject to a number of risks, uncertainties, and assumptions that are difficult to predict, estimate or verify. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. Such risks and uncertainties include those factors described in the company's most recent annual report on Form 1-K, which may be amended or supplemented by subsequent semiannual reports on Form 1-SA or other reports filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements are made only as of the date hereof, and the company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements. For more information, please refer to the company's filings with the Securities and Exchange Commission.