Annual Revenues Increased Over 700 Per Cent Year-Over-Year
SAINT SIMONS ISLAND, GA / ACCESSWIRE / November 21, 2022 / Deep Green Waste & Recycling Inc. (OTC PINK:DGWR), a waste, recycling and remediation services company for commercial customers, today announces record revenues in its financial results for the third quarter and nine months ended Sept. 30, 2022.
During the three months ended September 30, 2022 (the '2022 Period'), the company realized Revenues of $368,512, which increased 739% compared to Revenues of $43,915 during the nine months ended September 30, 2021 (the '2021 Period'). Gross profits increased to $237,703 during the 2022 Period, which increased 1,600% compared to $13,985 during the 2021 Period. Revenues and Gross profit in the 2022 Period were higher compared to the 2021 Period as the Company realized increased revenues and profits after the acquisition of Lyell Environmental Services.
'We are very pleased with our third-quarter performance as a result of acquiring Lyell Environmental Services,' said David Bradford, President of Deep Green Waste & Recycling. 'The work we put into Lyell during the first half of the year to create an enduring revenue and cash flow component for Deep Green is beginning to show significant results and we will strive to continue growing our presence in environmental services at a rapid and sustainable pace.'
Operating expenses were $312,209 during the 2022 Period, which increased from $203,275 during the 2021 Period. As a result, the Company reported an operating loss of $74,506 during the 2022 Period, which decreased from an operating loss of $189,290 during the 2021 Period.
For the nine months ended September 30, 2022 ('the 2022 Nine Month Period'), Deep Green reported revenues of $796,127, which increased 562% compared with $120,180 for the nine months ended September 30, 2021 ('the 2021 Nine Month Period'), and gross profit of $495,615 in the 2022 Nine Month Period, which increased 698% compared with $62,085 in the 2021 Nine Month Period.
About Lyell Environmental Services, Inc.
Lyell Environmental Services, Inc. is an established commercial environmental and ecological testing services company based in Nashville, Tennessee. For more information, visit: https://www.LyellEnvironmentalServices.com/
Amwaste is a wholly owned subsidiary of Deep Green Waste & Recycling that serves the Golden Isles region of coastal Georgia. For more information, visit: https://www.CallAmwaste.com.
About Deep Green Waste & Recycling, Inc.
Deep Green Waste & Recycling, Inc. (OTC:DGWR) is a waste, recycling and remediation services which provides sustainable waste, recycling, and remediation services, and helps commercial customers realize cost-savings using streamlined processes that help manage, reduce, and recycle waste streams. For more information, visit: https://DeepGreenWaste.com.
SAFE HARBOR STATEMENT
This press release contains forward-looking statements that can be identified by terminology such as 'believes,' 'expects,' 'potential,' 'plans,' 'suggests,' 'may,' 'should,' 'could,' 'intends,' or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results or implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
For information, please contact:
Bill Edmonds, President
Deep Green Waste & Recycling, Inc.
260 Edwards Plz #21266
Saint Simons Island, GA 31522
Phone: (833) 304-7336 / (833) 30-GREEN
SOURCE: Deep Green Waste & Recycling, Inc.
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