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The significant increase in sales was in part due to the sale of a 300KW Venturi plasma arc gasification unit during the quarter for $3.0 million. The second significant factor for the increase in sales was approximately $1.4 million in wholesale industrial gas products sold into the heating, ventilation, and air conditioning (“HVAC”) market through the Company’s wholly owned subsidiary, TGS. The Company acquired TGS in late May of 2020, and it immediately contributed to the 80% increase in monthly sales in June. TGS has now generated record sales for four straight months, as its Georgia, Florida and Texas operations continued to benefit from the increased work-from-home conditions due to the COVID-19 pandemic.
The Company also continued to experience a steady increase in sales across its 26 retail locations operated under the MagneGas Welding Supply brand. The Company continued to win new clients in virtually all markets, which more than offset general softness in manufacturing and industry as a result of the COVID-19 economic impact.
Taronis Fuels Releases Record Second Quarter Results of Operations
GlobeNewswire
Taronis Fuels, Inc
,GlobeNewswire•August 17, 2020
Company Generates $8.9 Million in Revenues, $2.4 Million in EBITDA
PHOENIX, AZ, Aug. 17, 2020 (GLOBE NEWSWIRE) -- Taronis Fuels, Inc., (“Taronis” or “the Company”) (OTCQB: TRNF), a global producer of renewable and socially responsible fuel products, today announced its results of operations for the second quarter of 2020. The Company reported $8.9 million in revenues during the quarter, which represented a $3.0 million increase, or 51.8% increase in sales when compared to $5.8 million in sales generated during the second quarter of 2019. When compared to the $4.9 million in sales for the first quarter of 2020, this represents a $3.9 million, or 80% increase in quarterly revenues.
TRNF
GlobeNewswire • 53 minutes ago
Taronis Fuels Releases Record Second Quarter Results of Operations
Taronis Fuels Inc (Q (TRNF)
0.11525 ? -0.00275 (-2.33%)
Volume: 204,916 @08/14/20 3:59:01 PM EDT
Bid Ask Day's Range
0.1129 0.1175 0.1129 - 0.12
TRNF Detailed Quote
Thank you PennyDr for posting. I am confused why this board has been quiet.
Why has the Investorshub stopped receiving/posting news releases on Taronis Fuels. I see today they completed a deal in Miami opening up a new market and buying a corporation that distributes Acetylene but no mention of it here. If the board moderator could look into why this is not happening. I think comments regarding the coming growth are worthy of repeating so I will link the news.> http://www.stockwatch.com/News/Item?bid=U-z7996193-U%3aTRNF-20200813&symbol=TRNF®ion=U. Its got to be worth $.18 based on the new markets and opportunity this purchase opens up.
GLTA
Ahh I stopped paying attention to this one. And pretty much the rest of my stocks a few months ago.
People buying back in hoping for good financials to come out, Hopefully next week sometime
Correction no it has not been audited yet
According to OTC markets they have been audited
Management isn't trusted. Might get a pump and dump pop with Turkey payment PR, but will take audited financials verifying Turkey payments and no dilution into pop to pin sp higher.
The one sitting in Turkey waiting for an engineering team to commission it
Which unit are you referring to?
As soon as the unit is commissioned it will take off
Took a position today. Love buying the dips here and also looking for news soon on Turkey and other countries with respect to magnegas
IR said other units for the Turkey JV are currently being worked on
Yeah, not too stoked about it
$TRNF Taronis Fuels Inc (Q (TRNF)
0.1258 ? 0.0038 (3.11%)
Volume: 131,707 @07/28/20 11:18:40 AM EDT
Bid Ask Day's Range
0.1188 0.1259 0.118 - 0.1295
TRNF Detailed Quote
$TRNF Taronis Fuels Inc (Q (TRNF)
0.12 ? -0.0048 (-3.85%)
Volume: 400,430 @07/24/20 3:55:16 PM EDT
Bid Ask Day's Range
0.07 0.2 0.1151 - 0.1295
TRNF Detailed Quote
Yeah it is .1245
This stock doesn’t get enough love
I just bought more TRNF yeterday.I will tell you why.Look at the OTC board website and hit the tab disclosers.It will tell you insider buying or selling for the last 6 months.There has been inside buying.That tells me something ABOUT officers of TRNF .They must have knowledge of good things in the future or why would they invest there own money into the stock.This is one of the ways I invest in any companies stock.If you see officers selling,beware.If you them buying,thats a good thing.This is my personal view.
I just bought more TRNF yeterday.I will tell you why.Look at the OTC board website and hit the tab disclosers.It will tell you insider buying for the last 6 months.There has been inside buying.That tells me something ABOUT officers of TRNF .They must have knowledge of good things in the future or why would they invest there own money into the stock.This is one of the ways I invest in any companies stock.If you see officers selling,beware.If them buying,thats a good thing.This is personal view.
Never heard back from how your demo was, hows it go?
You answered your own question people don’t trust the CEO of this company. He has done so many people wrong Time will tell if the stock is any different than his other venture
Any day this could have news dropped that could take it over a dollar, book value of the company is in the .20s idk why it’s trading this low at the moment beside people not trusting the company
The 10Q wasn’t the worst thing in the world.
Just waiting on the turkey deal to finish
Geeezzz will this do something already???? Gives us some news. Sigh just pathetic
Taronis Fuels Inc (Q (TRNF)
0.146 ? 0.002 (1.39%)
Volume: 843,826 @06/29/20 3:59:55 PM EDT
Bid Ask Day's Range
0.142 0.16 0.1401 - 0.1476
TRNF Detailed Quote
New Video and minor equity offering El Salvador , Amsterdam, USA and Turkey all being developed into disrupted markets. Some one trying to buy 200000 shares between yesterday and today.
I wonder if the 2.6 million shares are still short or have they covered.
I have been quietly accumulating this disruptive company and will continue.
Taronis should market Magnegas to be mixed with other liquefied fuels to add improve fuel economy and brand as a green fuel. So much opportunity to be realized going forward. IMHO
So what’s the word?
Keep us update. Very interested in what you/they have to say
I will be meeting meeting with a group at the Peoria facility for a Product Demo. I live in Phoenix and read an article about the company. After doing some DD I made contacts and will meet with a group for a product demo on Tuesday.
Unit arrived in Ankara today. see the blog post taronisfuels.com/blog/
Ribbon cutting and demonstration soon!
Taronis Fuels Inc (Q (TRNF)
0.165185 ? 0.011185 (7.26%)
Volume: 594,974 @06/12/20 3:56:14 PM EDT
Bid Ask Day's Range
0.12 0.2 0.1525 - 0.1673
TRNF Detailed Quote
first off trnx what assets do they have? nothing but lease building and contact that fell through from cona-19
now what assets does trnf have?
26 STORES worth each store worth about 1.5 million or more.
26000 SQ MANUFACTURER FACILITY PLANT
156 MILLION CONTRACT WITH TURKEY
LOT MORE BUT DONT FEEL LIKE LOOKING THEM UP
THEY ARE TOP 5 GAS COMPANY IN USA BY THE WAY
They did the same thing with TRNX. And this is the second round of free TRNF shares to employees in 2020. Yes, the cash goes to fat Scotty and his minions' pockets, not TRNF, when they dump their free shares into a pump. Still dilution just the same. The only positive is this indicates a fake news pump (sell opportunity) is coming.
No there is a difference. This is not dilution to use as equity
Sell an move on then
Yeah 100,000,000 free shares, most of which fat Scotty and his crew will sell into a pump and dump just like they did with TRNX shares. Dilution is dilution.
Not even a dilution to begin with. It’s a reserve of shares for employees and is valid for 10 years
It was not a dilution for operating cash... read the filing it for an employee benefit plan
Dilution filing. So much for having operating cash through 2020 and the bogus Turkey revenues. This is a total scam just like TRNX or BBHC or whatever their past scam is now call.
Great news. This gem of a ticker should be on a lot more traders/investors radar. With the MagnaGas metal fabrication cutting edge technology (pun inteneded), Revenue here will be in the billions soon.
$TRNF$
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The Company is also working to complete all of the required permitting paperwork with the
Port of Amsterdam for the launch of a fully operation gasification facility in Amsterdam.
The process is expected to be completed in late third quarter.
During that time, Taronis will begin to customize a second gasification unit for end use in Europe.
Taronis is also working with the government of El Salvador to develop an entirely new fuel product intended to replace propane for residential uses.
TRFN
Taronis Fuels, Inc.
We are a renewable fuel and power generation company. Our primary business objective is the production of sustainable,
socially responsible alternatives to existing fossil fuel and industrial gas products.
Our first commercially competitive product is a metal cutting fuel called "MagneGas".
MagneGas is a proprietary synthetic gas comprised primarily of hydrogen that is produced by the Company from
its Venturi Flow Submerged Plasma Arc Gasification Units ("Gasification Units").
We sell MagneGas, Gasification Units, other specialty gases and ancillary products globally.
16165 N. 83rd Avenue
Suite 200
Peoria, AZ 85382
Taronis Fuels Inc (OTCMKTS: TRNF) has been moving up steadily in recent days since a brief dip below a dime.
The stock is highly liquid and is starting to get a lot of attention at current levels.
TFNF hit the OTCBB after being spun off from Taronis Technologies, Inc., (NASDAQ: TRNX)
a NASDAQ Company currently trading at around $0.30. TRNF initially skyrocketed to $0.51 highs before coming back down to current levels.
Taronis Fuels Inc (OTCMKTS: TRNF) is a clean technology company offering better technology solutions to today’s renewable fuels
and sterilization problems by harnessing its proprietary clean gas technology.
Taronis owns the only patented venturi plasma arc technology that gasifies or sterilizes a wide number of liquids and liquid wastes into a sustainable,
green metal-cutting gas caled MagneGas.
Adoption of such unique gases is growing in major industries ranging from construction
and demolition to metal fabrication and first responders for emergency extraction situations.
Taronis’ patented Venturi Plasma Arc™ is based on flowing the target liquid waste through a submerged electric arc between two electrodes.
The arc breaks-down the liquid molecules into atoms and forms a plasma around the tips of the electrodes at about 10,000 degrees F.
The Venturi moves the plasma away from the electrodes and controls the formation of the gas product that rises to the surface for collection.
Taronis’ MagneGas has a higher flame temperature than acetylene and has been independently certified at 10,500ºF; it can cut faster and cleaner,
with little to no slag and uses less oxygen than its competitors. More specifically, it can cut a two-inch steel plate at a rate of 18 inches per minute,
a full 38% faster than acetylene and 44% faster than propane. Additionally, it emits significantly less carbon dioxide (CO2) than competing gases.
On April 1 in a highly bullish move, the CEO and all independent members of the Board of Directors (as highlited in the form 4’s filed)
purchased just over 4 million shares of TRNF. CEO Scott Mahoney stated
“This transaction is intended to convey the faith and commitment our entire team has in the Company.
As we recently updated, our domestic operations are operating at a high level. Our international business is moving forward on all fronts,
despite the challenges presented by COVID-19.”
In a recent update to shareholders Taronis said its mobile gasification unit scheduled for shipment to
Ankara, Turkey is being commissioned as fully operational in Clearwater, Florida this week.
The unit will be shipped out from the port of Tampa within a week, and is scheduled to arrive in Ankara within 45 days of shipment.
The unit was sold for $5 million to a business development firm that successfully arranged a 30 unit, $165 million contract for a
country wide launch of MagneGas as a viable replacement in the Republic of Turkey.
The unit is expected to be commissioned in Ankara upon delivery in the second half of May.
This commissioning process is the final condition requested by the
Turkish Ministry of Energy and Natural Resources before the acceleration of the $18.75 in payments commence.
The first payment will be required for $4.7 million immediately after the commissioning process.
A second payment will be then accelerated to 30 days from the initial payment.
The third payment will be required approximately 90 days from the initial payment, when the 5 units are ready for shipment.
The remaining $4.7 million payment will be required immediately after the 5 units are commissioned in Ankara, likely in late September 2020.
Next, the Company has made meaningful progress in Bahrain with a global industrial gas provider.
The Company successfully demonstrated the ability to produce MagneGas in Bahrain for less than half the cost to produce acetylene using local market cost factors.
The Company is working to coordinate a final meeting with the regional executives of the prospective partner in order to secure approval to proceed.
The Company is also working to complete all of the required permitting paperwork with the Port of Amsterdam for the launch of a fully operation gasification facility in Amsterdam.
The process is expected to be completed in late third quarter. During that time, Taronis will begin to customize a second gasification unit for end use in Europe.
Taronis is also working with the government of El Salvador to develop an entirely new fuel product intended to replace propane for residential uses.
Taronis CEO Scott Mahoney commented: “We receive a number of inquiries related to our international expansion opportunities.Volume | |
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