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.
EWSI recently announced its entry into the consumer collection market, which is growing rapidly. Analysts expect the Global Collection Services market in the E-waste industry to grow at a CAGR of 14.33 percent over the period 2012-2016.1 One of the key factors contributing to this market growth is the increasing number of initiatives taken for e-waste collection. The Global Collection Services market in the E-waste industry has also been witnessing an increase in the number of government policies with respect to e-waste management, which leads to an unwanted accumulation of electronics and a challenge to be met by the industry.(1)
"The next few years will be a time of phenomenal growth in our industry and EWSI's unique positioning as a public global platform with proprietary technology, brands and assets makes us well equipped to take advantage of this market opportunity," added Mr. Nielson.
As part of the company's updated business and finance plan and its intention to have strong, regular, and transparent communication with investors, the Company committed to hold frequent updates via public interviews. The Company expects to tape and release the next interview within ten days. Further information will be provided about the Company's developments at that time. Management encourages interested shareholders to contact us with questions of interest for these interviews.
2013 Business Plan and all SEC filings are available on the Company's website (www.ewastesystems.com).
For more information as it happens, follow @EWasteSystemsIn on Twitter and Facebook and on the company's blog at www.ewastesystems.blogspot.com
Or contact: Investor Relations at: firstname.lastname@example.org
(1) "Global Collection Services Market in the E-Waste Industry 2012-2016", Technavio http://www.technavio.com/report/global-collection-services-market-e-waste-industry-2012-2016
The e-waste and reverse logistics market has become a $100B+ annual business (Source: Blumberg Advisory Group, Inc.), excluding much of the resale of still usable goods that flood the marketplace as new updates in software and hardware are released. Furthermore, as environmental legislation and policies sets more stringent requirements for the disposal of these items, many analysts and practitioners expect e-waste to grow faster than any other waste stream over the next 5 years. The benefits of e-waste management and recycling are many, including conservation of natural resources, creation of new jobs, prevention of environmental contamination by toxic chemicals, and reduction of energy requirements.
About E-Waste Systems, Inc.
E-Waste Systems, Inc. is the first pure play public company in the emerging waste electrical and electronics equipment ("WEEE") industry. EWSI targets companies facing regulatory or other mandates for handling e-waste. EWSI operates and assists its large geographical network of affiliates, applying best practices in professional management, offering state-of-the-art engineering, and providing a truly global e-waste solution. Additional information, including the business plan summary, is available on the Company's website, www.ewastesystems.com.
Safe Harbor Statement: Certain statements and information included in this release may constitute "forward-looking statements" as defined in the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied in such statements. Additional discussion of factors that could cause actual results to differ materially from management's projections, estimates and expectations is contained in the Company's SEC filings. The Company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by federal securities laws.
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