LONDON -- (Marketwired) -- 08/26/13 -- E-Waste Systems, Inc. (OTCQB: EWSI) ('EWSI' or the "Company"), an electronic waste management, reverse logistics, environmentally focused services and technology company and the first pure public eWaste operator, announced today financial results for the quarter ended June 30, 2013 highlighted as follows:
•Revenue Grew to over $2.7 million in the quarter •Total Assets grew to over $3.5 million •Shareholders Equity improved by over $1.3 million
EWSI reported $2,737,308 in revenues for the second quarter of 2013, more than a 1,000% increase in revenues reported for the first quarter of 2013. The revenue growth was in all areas of the company's business, including sales of new brand licenses, services, and the addition of new strategic operating units. The new operating units give access to an expanded customer base for the Company's other services and technologies, as well as important operating revenues.
Total assets have increased by $3,524,925 and shareholder's equity has improved by $1,383,670 from the start of the year, when the new business plan was published and launched, While the Company does not expect to be profitable during this stage of its growth, the operating loss was reduced down to $98,096, an improvement of $127,406 when compared to the same quarter last year.
The comprehensive results have been filed on SEC Form 10Q/A Amendment 1, and readers are referred to that filing which is available on the Company's website.
"We are extremely pleased with these breakthrough milestones and the solid results for the second quarter. Coming out of a challenging launch year in 2012, these results are a reflection of the hard work and commitment of our entire team in the execution of our company's announced 2013 goals and business plan. Based on our second quarter results and our laser focus on continued implementation of our strategic plan, we look forward to a very successful second half of 2013," said Martin Nielson, Founder and CEO of EWSI.
Mr. Nielson added, "These results are the first real external evidence of our team's ability. It is my hope that this gives added confidence to our shareholders. I am also exceptionally pleased that our second quarter 2013 development has been in every phase of our business plan. We have expanded our global brand and now have a presence on all continents and are teaming with companies to improve our global reach. We recently successfully launched our eWasteCC technology and are investing in developing new proprietary technologies. And, we are accelerating our revenues through our new operating divisions, acquisitions, management services, and organic growth initiatives."
The Company recently closed the acquisition of Surf Investments Ltd, which has been renamed to E-Waste Systems (CA), and is in the latter stages of due diligence of another acquisition of 2TRG in Ohio. Others are in the pipeline, and the recently announced deal with GoEz Deals (www.goezdeals.com) is targeted to give the Company direct access to consumer markets. EWSI is also expanding its commercial offerings, which is expected to lead to further announcements in the fields of precious metals, eWasteCC (energy reduction and carbon credits) and engineering solutions under the ePlant1000 brand. "All of these initiatives give us great confidence that we can carry on the progress of the first two quarters of 2013," added Mr. Nielson.
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