ABCO ENERGY, INC. http://www.abcosolar.com/ ABCO Energy, Inc. (the 'Company') is a commercial and residential installer of Photo Voltaic (PV) solar systems, LED lighting solutions and financing for all of these energy saving products. ABCO Energy, Inc. is a Nevada corporation, doing business as 'ABCO Solar' which maintains offices located in Tucson, Arizona. ABCO is a fully reporting public company trading under the symbol ABCE on the OTCQB Market. ABCO has wholly owned subsidiaries operating under the names of ABCO Solar, Inc. an Arizona Company and Alternative Energy Finance Corporation, a Wyoming Company. Share Structure: A/S 5,000,000,000 as of December 1, 2018 O/S 31,886,289 as of December 1, 2018 Float - Undeterminded
as of October 1, 2018
Address: Telephone #: Fax: Email:
2100 N. Wilmot, Suite 211 520-777-0511 520-620-5574 InvestorRelations@abcoenergy.com
ABCO ENERGY ANNOUNCES THIRD QUARTER 2018 RESULTS OF OPERATIONS
ABCO Energy, Inc, (OTC PINK: ABCED) December 21, 2018, Tucson, Arizona, that the company has completed its 20 for 1 reverse stock split on its common shares and the result has been that our shares have been quoted over the $.01 price for the first time in nearly two years. We believe that now the share price will begin to reflect the value of the company’s efforts to increase sales and profits and show its maturity as a survivor in the public market place. Sales for the nine months ended September 30, 2018 were $2,187,919 as compared to $1,168,680 for the same Nine months in 2017. This is an increase of $1,019,239 or 87% above the 2017 sales. Net loss from operations for the nine-month period ended September 30, 2018 was ($17,326) as compared to the net loss of $(295,219) for the same nine month period ended September 30, 2017 mainly due to the increase in sales. The net loss for the period ending September 30, 2018 was $277,893 lower than the September 30, 2017 net loss. Sales for the three months ended September 30, 2018 were $1,106,898 as compared to $265,856 for the same three months in 2017. This is an increase of $841,042 or 316% of the 2017 sales. ABCO has increased their efforts to sell into the commercial markets and the results of these changes and efforts have begun to materialize and are shown in the results of operations. Net loss for the three-month period ended September 30, 2018 was $(51,280) as compared to the net loss $(379,073) for the same three-month period ended September 30, 2017, a decrease of $327,793. “Sales gains and more profitable operations has always been our goal, but we have had difficulty improving both over the last few years. We believe we have made significant changes in our business model and expect that the change will have a truly positive affect on our management, employees and shareholders for the long term,” said Charles O’Dowd, President. “We have a large backlog of unfinished work for projects to be completed in the 2019 year and this will reflect well in our first quarter results,” he added. ABCO expects to file for designation as trading on the OTCQB marketplace by the end of this fiscal year and hopes for approval in early January 2019.
ABCO Energy Announces Expansion to the California and Phoenix Markets
ABCO Energy, Inc., (OTC PINK: ABCE) September 6, 2018, announced that they have formed two new subsidiary companies in California and Arizona and plan expansion in both markets.
ABCO Energy CA, Inc. a California corporation, with offices in Los Angeles, will soon begin sales and services in the state's largest city. We have quoted several commercial jobs and hope to arrange financing for several more. In addition, we have begun negotiations with a solar operating company in a city south of Los Angeles whose owner wishes to retire. This company has over a million in sales and is fully equipped to expand. With California's aggressive plan to have 100% of their energy supplied by renewable resources and mandatory solar on new home construction, this is a market we cannot avoid. Our solar powered air conditioning system is receiving a great deal of attention when we discuss it with California housing developers.
ABCO Air Conditioning Services, Inc. was formed when we acquired a Phoenix based air conditioning services supplier and set up our office to service the Phoenix Metropolitan cities. We have business licenses in approximately ten of these cities and now are licensed for "Air Conditioning and Refrigeration" and "Solar and Electric" throughout the state. ABCO Solar, Inc. has served this market from Tucson.
ABCO has signed an S1 financing agreement with Oasis Capital, LLC, a large capital funding firm for a $5,000,000 offering that will allow us to expand rapidly in both markets mentioned above. The initial financing is slated to take place in late September or early October as soon as the registration documents are cleared with the SEC. An additional benefit of this S1 is that we are now clear of all financing with convertible debentures so the fixed nature of this S1 financing will not disrupt our market for the stock in such a volatile manner.
"ABCO has a current $1,500,000 backlog in the Tucson market and will require this capital in the near future to complete our projects and expansion, said Charles O'Dowd, CEO of ABCO. We have begun recruiting in these markets and will be well established in a short period of time. Our ten years of experience will allow the growth to come naturally and our experience in management, purchasing and customer financing coupled with capital resources will transition us through this growth in a smoother manner."
ABCO Energy Announces a Five Million Dollar Funding
ABCO Energy, Inc., (OTC PINK: ABCE) announced that they have signed an S1 financing agreement with Oasis Capital, LLC, a large capital funding firm for a $5,000,000 offering that will sell our common stock at 85% of the market price. The initial financing is slated to take place in late September or early October as soon as the registration documents are cleared with the SEC. This common stock offering will be the first we have been able to bring to completion.
The funding will be utilized to provide working capital to complete our $1,500,000 backlog, retire expensive debt and provide funding for acquisitions and mergers. We have been negotiating for acquisitions with solar product and service providers, air conditioning and refrigeration service providers and LED lighting providers in the Western states.
"As of August 31, 2018, we had common stock outstanding of 492,054,727 shares, which prompted the capital financiers to request a 1 for 10 reverse to 49,205,473 shares, which should result in an easier and more manageable market," said Charles O'Dowd, CEO of ABCO. "Since we have a desire to return to the OTCQB and need to retain a $.01 stock price, the reverse will assist in this goal. We have not been near this number for 2 years and believe it is better for all of our shareholders to be on the OTCQB and to rid our company of the deep discounts prevalent with convertible debentures."
ACBO Energy Announces a Million Dollar Contract
ABCO Energy, Inc, (OTC PINK: ABCE) August 8, 2018, Tucson, Arizona, announced that they have signed a $950,000 commercial solar project and anticipate an additional $35,000 commercial lighting contract on the same facility with ABCO crews providing all construction. The project is on a 72-unit apartment complex and will consist of both roof top and car park shade structures. The owners will enjoy approximately $80,946 from the solar electric generation plant and $15,981 first year savings from the LED lighting project, for a total first year savings of approximately $96,927. In addition, the federal and state tax credits totaling $310,000 will further increase the owner's return on investment. Over a period of 25 years, this project is expected to provide cost reduction for the customer in excess of $3,445,000.
'Coupled with our first seven months of sales and booked backlog of over $1,500,000, ABCO's anticipated sales booked for the year already exceeds $2,500,000,'' said Charles O'Dowd, President of ABCO Energy. ''With this large backlog of signed commercial and residential solar projects and several quoted projects in the pipeline at this time, we are hopeful for a record year in sales and profits.
ABCO ENERGY ANNOUNCES MIDYEAR RECORD SALES CONTRACTS TOTALING $1,481,000
ABCO Energy, Inc, (OTC PINK: ABCE) July 10, 2018, Tucson, Arizona, announced that they have signed more residential contracts in the first six months of 2018 than in any previous year. The signed agreements will provide the company with a backlog of work to be completed during the third and fourth quarter of 2018. The total residential contracts are approximately $1,250,000 and the commercial projects total $231,000. This sales record is an increase of 48% over the same period in the prior year which totaled $1,002,000. “After seeing a profit in the first quarter of 2018 on record sales, we are beginning to see a number of changes in our market that will provide profit opportunities throughout the rest of the year. We are struggling with hiring problems due to availability of construction workers in Arizona but have been able to cope with the growth with intensive management, training and quality hiring” said Charles O’Dowd, President of ABCO Energy. “We have a very large pipeline of quoted commercial work at this time and are hopeful that we will sign and find customer financing for the projects we have in the loop”.
ABCO ENERGY ANNOUNCES 2017 BOOKED SALES OF $1,756,000
ABCO Energy, Inc, (OTC PINK: ABCE ) December 21, 2017, Tucson, Arizona, announced today that they have accumulated an $1,756,000 of booked sales for 2017. Our residential sales were approximately $1,296,000 and our commercial sales totaled approximately $460,000 for the 12 months. Total sales for the year 2017 will be adjusted for current work in process as part of our annual audit which will be completed prior to April 15, 2018. Our booked sales increased by 218% over the same period in 2016. Our backlog of current unfinished work totals approximately $405,000 and consists of both residential and commercial projects to be finished next year. This backlog of work will provide ABCO a healthy beginning for 2018 which will be completed and reported in the first quarter of 2018. According to Charles O’Dowd, President of ABCO Energy “We are very proud of our growth in sales and have worked very hard to make this happen in 2017. ABCO also has a pipeline of larger commercial jobs already in the proposal stage which we believe will result in signed contracts in 2018 to supplement the initial 2018 backlog. This pipeline and our backlog is promising a strong year. We will continue to pursue sales of larger commercial solar projects to supplement our residential work. ABCO also has new contractual relationships with three new third party financiers that will help sales by providing us with financing for our customers we may have lost in the past due to lack of financing. We plan on 2018 to be a banner year for us and our aggressive sales approach should carry this through. We have added two new professional sales persons during 2017, one for residential and one to focus on the solar air conditioning business of ABCO”.