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PHOENIX, AZ, Nov. 20, 2019 (GLOBE NEWSWIRE) -- Taronis Technologies, Inc., (“Taronis” or “the Company”) (TRNX), a leading renewable fuel producer serving the global industrial gas markets, today announced third quarter 2019 results of operation. Revenues generated in the third quarter were $5.3 million, representing a 103% increase over the third quarter of 2018. The increase was primarily due to added scale through acquisitions made in the first quarter of 2019.
Organic revenue growth was most pronounced in the San Diego, CA, and Tyler, TX markets, where some of the Company’s retail locations are 70-80% higher since acquisition in 2018. This strong growth was partly offset in some markets by the national shortage of helium during the period. This shortage has begun to abate, and the Company expects to see steady sales improvements as it competes to win back longtime legacy clients that were forced to move their accounts elsewhere during the helium shortage.
Gross income generated during the quarter was $2.4 million, with a 46% gross margin. Management expects to see further improvement in gross margins in the fourth quarter, with the benefit of the Clearwater, FL fill plant in operation for a full quarter. This is expected to add approximately 1.5% to gross margins in the fourth quarter. The Company forecasts gross margins to further improve throughout 2020 as the Company’s US retail business is scheduled to complete a series of upgrades to its industrial gas facilities. Management also expects to see margins benefit through increased MagneGas sales in Texas and the West Coast.
Operating expenses were $9.7 million during the quarter. Of this amount, cash expenses excluding depreciation, amortization, and stock compensation were $6.7 million. The Company experienced an increase in expenses on several fronts. First, the cost to regain compliance with Nasdaq, including consulting, legal, and other services was significant. Second, the Company retained multiple consultants and legal counsel to facilitate international business development, primarily in Europe and the META (Middle East, Turkey and Africa) regions. The Company invested in increased staffing, primarily in the fields of engineering, technical, sales and marketing, and administrative personnel required to support the pending Turkish contract, which is expected to commence in the fourth quarter of 2019.
EBITDA for the quarter was negative $4.2 million, of which more than half was accounted for by the onetime or otherwise non-recurring items discussed above. Management expects Taronis Technologies’ burn rate to improve to neutral or become positive in early first quarter 2020. This is based on our internal outlook for the Water Pilot, which is beginning to scale and generate meaningful revenue during the fourth quarter. The Company also forecasts to see significant free cash flows from royalties due from Taronis Fuels. For example, the initial five 300KW Venturi plasma arc gas unit purchase under the Turkish contract would generate just over $1.3 million in royalties and EBITDA to Taronis Technologies with no changes in staffing, overhead or capital expenditures by Taronis Technologies. This free cash flow would be primarily devoted to further technology innovation for water decontamination, possible M&A opportunities and other corporate activities that are intended to benefit shareholders.
“This was a very productive quarter for our team,” commented Scott Mahoney, CEO of Taronis. “We had spent almost 18 months working toward a landmark contract with Turkey, which we executed in July. This $165 million contract is projected to be highly profitable, and we anticipate the entire contract could be expedited, pulling revenues and EBITDA into 2020 for our benefit. We also made significant progress in launching our first Europe location, located in Amsterdam, which we announced at the end of the quarter. We also made significant progress in multiple markets in the Middle East, and we began to unlock a compelling opportunity with partners in Latin America. Our international expansion during the period was a clear success.”
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Taronis Technologies Reports Q3 Earnings Company Reports Revenues of $5.3 Million, 103% Increase vs. Third Quarter 2018
Zero. It’s a POS. The same amount as the cheerleaders. look at a chart, their history, the Scamtilli history, Scrot’s history, their other failed tickers, it will make you cry. Or, their very predictable RS schedule. Or, their filings. Facts hurt, but are facts all the same...
I wish you all the best Sir. I personally think this is a great company with a lot of potential.
Sorry, my holdings are my personal decision and are only my business. Judge your purchase of the company stock based on how you value the company and not my holdings. I am 84 years old and very close to 85 with very limited funds for investing.
Very trade-able. Should test lows when the shiny things they promise don’t take place. Eventually, they will remove everything of value out of the tickers, leave bag holders in the lurch, multiple RS, again, ticker change, and so on...typical stinky pinky.
The drop in price after a great positive announcement is a common manipulated practice. They drop the price to load up then drive it up and sell at a profit. Manipulation at its best. Its against the law but try proving it. The only thing an investor can do is buy like crazy when it drops.
Yes, yes and yes. But there is probably some room to make some $$ on the next suckers run!
Because it is a proven lifetime P and D, it loses tons of money, as always, it is moving on forward looking fluff unlikely to occur, it just diluted a ton with even more toxic debt, and so on...supported by literally every fact.
Why isn't their stock price increasing 103% like their revenue they keep claiming increased? Don't get it!!!
Taronis Technologies Reports Q3 Earnings Company Reports Revenues of $5.3 Million, 103% Increase vs. Third Quarter 2018
PHOENIX, AZ, Nov. 20, 2019 (GLOBE NEWSWIRE) -- Taronis Technologies, Inc., (“Taronis” or “the Company”) (TRNX), a leading renewable fuel producer serving the global industrial gas markets, today announced third quarter 2019 results of operation. Revenues generated in the third quarter were $5.3 million, representing a 103% increase over the third quarter of 2018. The increase was primarily due to added scale through acquisitions made in the first quarter of 2019.
Organic revenue growth was most pronounced in the San Diego, CA, and Tyler, TX markets, where some of the Company’s retail locations are 70-80% higher since acquisition in 2018. This strong growth was partly offset in some markets by the national shortage of helium during the period. This shortage has begun to abate, and the Company expects to see steady sales improvements as it competes to win back longtime legacy clients that were forced to move their accounts elsewhere during the helium shortage.
Gross income generated during the quarter was $2.4 million, with a 46% gross margin. Management expects to see further improvement in gross margins in the fourth quarter, with the benefit of the Clearwater, FL fill plant in operation for a full quarter. This is expected to add approximately 1.5% to gross margins in the fourth quarter. The Company forecasts gross margins to further improve throughout 2020 as the Company’s US retail business is scheduled to complete a series of upgrades to its industrial gas facilities. Management also expects to see margins benefit through increased MagneGas sales in Texas and the West Coast.
Operating expenses were $9.7 million during the quarter. Of this amount, cash expenses excluding depreciation, amortization, and stock compensation were $6.7 million. The Company experienced an increase in expenses on several fronts. First, the cost to regain compliance with Nasdaq, including consulting, legal, and other services was significant. Second, the Company retained multiple consultants and legal counsel to facilitate international business development, primarily in Europe and the META (Middle East, Turkey and Africa) regions. The Company invested in increased staffing, primarily in the fields of engineering, technical, sales and marketing, and administrative personnel required to support the pending Turkish contract, which is expected to commence in the fourth quarter of 2019.
EBITDA for the quarter was negative $4.2 million, of which more than half was accounted for by the onetime or otherwise non-recurring items discussed above. Management expects Taronis Technologies’ burn rate to improve to neutral or become positive in early first quarter 2020. This is based on our internal outlook for the Water Pilot, which is beginning to scale and generate meaningful revenue during the fourth quarter. The Company also forecasts to see significant free cash flows from royalties due from Taronis Fuels. For example, the initial five 300KW Venturi plasma arc gas unit purchase under the Turkish contract would generate just over $1.3 million in royalties and EBITDA to Taronis Technologies with no changes in staffing, overhead or capital expenditures by Taronis Technologies. This free cash flow would be primarily devoted to further technology innovation for water decontamination, possible M&A opportunities and other corporate activities that are intended to benefit shareholders.
“This was a very productive quarter for our team,” commented Scott Mahoney, CEO of Taronis. “We had spent almost 18 months working toward a landmark contract with Turkey, which we executed in July. This $165 million contract is projected to be highly profitable, and we anticipate the entire contract could be expedited, pulling revenues and EBITDA into 2020 for our benefit. We also made significant progress in launching our first Europe location, located in Amsterdam, which we announced at the end of the quarter. We also made significant progress in multiple markets in the Middle East, and we began to unlock a compelling opportunity with partners in Latin America. Our international expansion during the period was a clear success.”
The conference call was fantastic. Positive in every direction. Turkey a big +. If they replay it listen to it.
What pisses me off is I have limited funds to load up on the stock and can only buy very small amounts. Many announcements over the following quarters will bring many smiles to shareholders faces.
I AM A BUYER WITH VERY LIMITED RESOURCES.
Paraphasing....Turkey is real Turkey is happening. Split is happening and it is coming.
He sounds very convincing and sure of himself on this conference call. They feel it is a done deal, but it is not a done deal until gov. approval, which he feels is imminent for approval of the 1st 5 units with profit of 12 million $$ for Q 4. They plan to use the $$ to expand and become the #1 industrial gas company in the country. He just used the word phrase jaw dropping.
He actually just said the water pilot should become a cash cow.
Taronis Technologies Reports Q3 Earnings Company Reports Revenues of $5.3 Million, 103% Increase vs. Third Quarter 2018
Date : 11/20/2019 @ 8:00AM
Source : GlobeNewswire Inc.
Stock : Taronis Technologies Inc (TRNX)
Quote : 1.96 0.0 (0.00%) @ 7:52AM
Taronis Technologies, Inc., (“Taronis” or “the Company”) (NASDAQ: TRNX), a leading renewable fuel producer serving the global industrial gas markets, today announced third quarter 2019 results of operation. Revenues generated in the third quarter were $5.3 million, representing a 103% increase over the third quarter of 2018. The increase was primarily due to added scale through acquisitions made in the first quarter of 2019.
Organic revenue growth was most pronounced in the San Diego, CA, and Tyler, TX markets, where some of the Company’s retail locations are 70-80% higher since acquisition in 2018. This strong growth was partly offset in some markets by the national shortage of helium during the period. This shortage has begun to abate, and the Company expects to see steady sales improvements as it competes to win back longtime legacy clients that were forced to move their accounts elsewhere during the helium shortage.
Gross income generated during the quarter was $2.4 million, with a 46% gross margin. Management expects to see further improvement in gross margins in the fourth quarter, with the benefit of the Clearwater, FL fill plant in operation for a full quarter. This is expected to add approximately 1.5% to gross margins in the fourth quarter. The Company forecasts gross margins to further improve throughout 2020 as the Company’s US retail business is scheduled to complete a series of upgrades to its industrial gas facilities. Management also expects to see margins benefit through increased MagneGas sales in Texas and the West Coast.
Operating expenses were $9.7 million during the quarter. Of this amount, cash expenses excluding depreciation, amortization, and stock compensation were $6.7 million. The Company experienced an increase in expenses on several fronts. First, the cost to regain compliance with Nasdaq, including consulting, legal, and other services was significant. Second, the Company retained multiple consultants and legal counsel to facilitate international business development, primarily in Europe and the META (Middle East, Turkey and Africa) regions. The Company invested in increased staffing, primarily in the fields of engineering, technical, sales and marketing, and administrative personnel required to support the pending Turkish contract, which is expected to commence in the fourth quarter of 2019.
EBITDA for the quarter was negative $4.2 million, of which more than half was accounted for by the onetime or otherwise non-recurring items discussed above. Management expects Taronis Technologies’ burn rate to improve to neutral or become positive in early first quarter 2020. This is based on our internal outlook for the Water Pilot, which is beginning to scale and generate meaningful revenue during the fourth quarter. The Company also forecasts to see significant free cash flows from royalties due from Taronis Fuels. For example, the initial five 300KW Venturi plasma arc gas unit purchase under the Turkish contract would generate just over $1.3 million in royalties and EBITDA to Taronis Technologies with no changes in staffing, overhead or capital expenditures by Taronis Technologies. This free cash flow would be primarily devoted to further technology innovation for water decontamination, possible M&A opportunities and other corporate activities that are intended to benefit shareholders.
“This was a very productive quarter for our team,” commented Scott Mahoney, CEO of Taronis. “We had spent almost 18 months working toward a landmark contract with Turkey, which we executed in July. This $165 million contract is projected to be highly profitable, and we anticipate the entire contract could be expedited, pulling revenues and EBITDA into 2020 for our benefit. We also made significant progress in launching our first Europe location, located in Amsterdam, which we announced at the end of the quarter. We also made significant progress in multiple markets in the Middle East, and we began to unlock a compelling opportunity with partners in Latin America. Our international expansion during the period was a clear success.”
“Domestically, we executed well in a very competitive market. All our integration is behind us, and we have been expanding our sales force in every market we serve to drive revenue growth. We are coming out of our seasonally slow period, and we believe the fourth quarter will start to see some of the major new client additions delivered in the third quarter start to affect top line growth for several quarters to come.”
“On the MagneGas front, we have ramped up our marketing efforts, and have started to win major new clients both through the conversion of existing acetylene clients and outright new clients to adopt MagneGas as their metal cutting fuel product of choice. For example, in California, we brought on one of the largest demolition companies in the state as a new client, and they are using MagneGas to on two major projects. We converted another leading salvage company to use MagneGas in San Diego, and they now one of our largest MagneGas clients in California.”
“In Texas, we experienced similar success. In fact, one of our largest acetylene clients, which is a subcontractor for one of the largest global construction and earth moving equipment manufactures converted to MagneGas during the quarter. We estimate that their annual demand for our product could exceed all of our combined demand in Florida in 2018. We made a concentrated wager that expanding into these new markets was the correct decision. Based on the pace and scale of new MagneGas business we are starting to see, we made the correct decision.”
“Lastly, we took a major leap in company history during the quarter. We brought our first plasma arc gasification unit outside of Florida online in late September. This is expected to play a key role in supporting accelerated MagneGas sales in 2020 and beyond. We intend to establish similar production capabilities in multiple locations in California in 2020. With these expanded capabilities, we anticipate that MagneGas sales will potentially contribute to revenues and EBITDA generation in 2020,” concluded Mr. Mahoney.
About Taronis Technologies, Inc.
Taronis Technologies, Inc. (TRNX) owns a patented plasma arc technology that enables two primary end use applications for fuel generation and water decontamination.
The Company’s fuel technology enables a wide use of hydrocarbon feedstocks to be readily converted to fossil fuel substitutes. The Company is developing a wide range of end market uses for these fuels, including replacement products for propane, compressed natural gas and liquid natural gas. The Company currently markets a proprietary metal cutting fuel that is highly competitive with acetylene. The Company distributes its proprietary metal cutting fuel through independent distributors in the US and through its wholly owned distributors doing business as “MagneGas Welding Supply”. The Company operates 22 locations across California, Texas, Louisiana, and Florida.
The Company’s technology can also be implemented for the decontamination of waste water, including sterilizing water, eradicating all pathogens. The technology is being tested to determine if it can completely eliminate pharmaceutical contaminants such as antibiotics, hormones and other soluble drugs suspended in contaminated water. Lastly, the technology process is capable of reducing or eliminating other contaminants, such as harmful metals, as well as nitrogen, phosphorus, and potassium levels that trigger toxic algae blooms. The technology has prospective commercial applications in the agricultural, pharmaceutical, and municipal waste markets. For more information on Taronis, please visit the Company's website at http://www.TaronisTech.com.
Taronis also owns a controlling interest in Water Pilot, LLC. The WATER PILOT® System immediately reduces water consumption and provides you with live remote consumption monitoring for long term leak protection and water asset management. An integral, client based alarm and notification system that reports to any mobile device. Water Pilot may be appropriate for a wide range of businesses or properties with a water meter. For more information, please visit our website at www.gowaterpilot.com/
For a discussion of these risks and uncertainties, please see our filings with the Securities and Exchange Commission. Our public filings with the SEC are available from commercial document retrieval services and at the website maintained by the SEC at http://www.sec.gov.
News Release
Investor Contacts:
Michael Khorassani
IR@TaronisTech.com
Primary Logo
I hope they'll discuss something good about the spin off for the 5 fth, and they don't change the freekin' date again. we don't wanna be dead by the time they decide it's time.
I have no idea what will be disclosed tomorrow. I will re-print the results.
Hi Jerseyfish,
There will be a webniar tomorrow as you know., I won't be able to atend so can I get from you or anybody else a recap of what will be said.
Like you and others I am a beleiver and I would really like to know what will be said
Than you
Rejean
Taronis Announces Third Quarter Earning Call
Date : 11/19/2019 @ 8:00AM
Source : GlobeNewswire Inc.
Stock : Taronis Technologies Inc (TRNX)
Quote : 1.88 0.0 (0.00%) @ 8:18AM
Pre-Market
Last Trade Last $ 1.87 ? -0.01 (-0.53%)
Taronis Announces Third Quarter Earning Call
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Today : Tuesday 19 November 2019
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Taronis Technologies, Inc., (“Taronis” or “the Company”) (NASDAQ: TRNX), a leading clean technology company in the renewable resources and environmental conservation industry, today announced it will hold a shareholder town hall meeting via teleconference on Wednesday, November 20th at 9:00am EST. Dial in details are as follows:
Event: Taronis Technologies Q3 2019 Earnings Conference Call
Date: Wednesday, November 20th
Time: 9:00am ET
Participant Dial-In (Toll-Free): 877-407-0989
Participant Dial-In International (Toll-Free): 201-389-0921
Webcast Link: https://webcasts.eqs.com/taronistech20191120/en
Conference ID: 13696988
About Taronis Technologies, Inc.
Taronis Technologies, Inc. (TRNX) owns a patented plasma arc technology that enables two primary end use applications for fuel generation and water decontamination.
The Company’s fuel technology enables a wide use of hydrocarbon feedstocks to be readily converted to fossil fuel substitutes. The Company is developing a wide range of end market uses for these fuels, including replacement products for propane, compressed natural gas and liquid natural gas. The Company currently markets a proprietary metal cutting fuel that is highly competitive with acetylene. The Company distributes its proprietary metal cutting fuel through Independent Distributors in the US and through its wholly owned distributors doing business as “MagneGas Welding Supply”. The Company operates 22 locations across California, Texas, Louisiana, and Florida.
The Company’s technology can also be implemented for the decontamination of waste water, including sterilizing water, eradicating all pathogens. The technology is being tested to determine if it can completely eliminate pharmaceutical contaminants such as antibiotics, hormones and other soluble drugs suspended in contaminated water. Lastly, the technology process is capable of reducing or eliminating other contaminants, such as harmful metals, as well as nitrogen, phosphorus, and potassium levels that trigger toxic algae blooms. The technology has prospective commercial applications in the agricultural, pharmaceutical, and municipal waste markets. For more information on Taronis, please visit the Company's website at http://www.TaronisTech.com.
Taronis also owns a controlling interest in Water Pilot, LLC. The WATER PILOT® System immediately reduces water consumption and provides you with live remote consumption monitoring for long term leak protection and water asset management. An integral, client based alarm and notification system that reports to any mobile device. Water Pilot may be appropriate for a wide range of businesses or properties with a water meter. For more information, please visit our website at www.gowaterpilot.com/
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to future events, including our ability to raise capital, or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
For a discussion of these risks and uncertainties, please see our filings with the Securities and Exchange Commission. Our public filings with the SEC are available from commercial document retrieval services and at the website maintained by the SEC at http://www.sec.gov.
Investor Contacts:
Michael Khorassani
IR@TaronisTech.com
Primary Logo
TDA says Q3 earning announcement Nov 18/19, did anyone hear anything yet?
It's all about DD. My main concern is making sure people understand the scam. It's very hard to make a profit on this stock. I have several times in the past but timing is everything because they will not let it run long. They want as much $$ as they can get. Even if you don't want to take the time to read the years of filings, just look at the reverse splits as no you'll see there is no hiding. Matter of fact on the old board I called them making the play to change names to try to hide the scam. Many people criticized me and then they got all their shares split and the name change came.
https://finance.yahoo.com/news/taronis-completes-3-5-million-133000253.html
PHOENIX, AZ, Nov. 15, 2019 (GLOBE NEWSWIRE) -- Taronis Technologies, Inc., (“Taronis” or “the Company”) (TRNX), a leading renewable fuel producer serving the global industrial gas markets, today announced that it has closed a $3.5 million convertible preferred equity financing. The transaction includes a $2.25 fixed conversion price. The investor is not permitted to convert any of the preferred equity for the first 30 days post-closing, and any unconverted balance under this facility shall mature twelve months from closing. Full terms and conditions of the financing are available under the 8-K dated November 15, 2019.
The Special Equities Group, a division of Bradley Woods & Co. LTD., acted as lead Placement Agent and The Benchmark Company acted as Co-Placement agent.
“The purpose of this transaction is to provide interim working capital for Taronis in advance of an anticipated initial purchase order under the existing $165 million contract in Turkey,” commented Scott Mahoney, CEO of Taronis. “Based on our most recent meetings in Ankara, we believe we have satisfied all conditions required for our counterparty to initiate an initial purchase order.”
“The $165 million contract calls for a minimum of five 300KW Venturi plasma arc units. The upfront payment on each unit is $3.75 million, for a total of $18.75 million that will be due within 2 days of formal government approval in Turkey for the manufacturing, sale and distribution of MagneGas. Based on what we know today, we believe we will formally trigger that payment before the end of 2019.”
“In the event we receive this payment, we anticipate making the voluntary election to prepay the convertible preferred equity financing in full, thus minimizing the potential dilution to our existing shareholders. We believe this form of financing provides the maximum flexibility in the short term while providing the necessary capital to make the preparations for the commencement of the Turkish contract,” concluded Mr. Mahoney.
Taronis Completes $3.5 Million Convertible Preferred Offering
It’s all in the filings, financial and legal. Multiple class action lawsuits on going, mostly due to the lies and fake news told by Scrot related to San Diego, coupled with the massive dump, and subsequent RS concurrent with the fraudulent news blurb. Or, simply google TRNX, the old ticker, and Ruggiero Scamtilli, it’s good for a laugh. Nothing like a discredited, conspiracy queen, half retarded, mad scientist that has used multiple public vehicles to enrich his family, and only his family, by $50,000,000 or more. Or, look at a 5, 3, and 1 year chart. You can go back further, but it only gets more comically depressing. Or, look at his other current ticker. Same paper printing, same multiple RS, same failure, same toxicity, same lies, same failure.
Well you two last guys know an awful lot about this company. I don’t have a clue about the veracity of your comments but you surely know a lot that most of us don’t have a clue about
The Santillis created their own institution to loan money to the company in exchange for unlimited shares. Everytime the company needs money they get it from themselves then dilute their company to the ground followed by a reverse split and then repeat.
100% irrelevant. Elmo, his discredited fake scientist father, and the rest of the Scamtilli crime family control the stock, period. It’s a proven long running, P and D POS. Scrot is simply their puppet, always has been. Supported by all actual facts...
Do Institutions Own Taronis Technologies, Inc. (NASDAQ:TRNX) Shares?
Simply Wall St.November 14, 2019
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If you want to know who really controls Taronis Technologies, Inc. (NASDAQ:TRNX), then you'll have to look at the makeup of its share registry. Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. Warren Buffett said that he likes 'a business with enduring competitive advantages that is run by able and owner-oriented people'. So it's nice to see some insider ownership, because it may suggest that management is owner-oriented.
With a market capitalization of US$40m, Taronis Technologies is a small cap stock, so it might not be well known by many institutional investors. Our analysis of the ownership of the company, below, shows that institutions are noticeable on the share registry. Let's delve deeper into each type of owner, to discover more about TRNX.
View our latest analysis for Taronis Technologies
NasdaqCM:TRNX Ownership Summary, November 14th 2019
What Does The Institutional Ownership Tell Us About Taronis Technologies?
Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices.
We can see that Taronis Technologies does have institutional investors; and they hold 7.0% of the stock. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at Taronis Technologies's earnings history, below. Of course, the future is what really matters.
NasdaqCM:TRNX Income Statement, November 14th 2019
Taronis Technologies is not owned by hedge funds. While there is some analyst coverage, the company is probably not widely covered. So it could gain more attention, down the track.
Insider Ownership Of Taronis Technologies
While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. The company management answer to the board; and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board, themselves.
Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances.
I can report that insiders do own shares in Taronis Technologies, Inc.. As individuals, the insiders collectively own US$3.1m worth of the US$40m company. It is good to see some investment by insiders, but I usually like to see higher insider holdings. It might be worth checking if those insiders have been buying.
General Public Ownership
The general public, who are mostly retail investors, collectively hold 84% of Taronis Technologies shares. This level of ownership gives retail investors the power to sway key policy decisions such as board composition, executive compensation, and the dividend payout ratio.
Next Steps:
While it is well worth considering the different groups that own a company, there are other factors that are even more important.
I like to dive deeper into how a company has performed in the past. You can find historic revenue and earnings in this detailed graph.
If you would prefer discover what analysts are predicting in terms of future growth, do not miss this free report on analyst forecasts.
NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.
If you spot an error that warrants correction, please contact the editor at editorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
Taronis Launches Turkish Joint Venture
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Today : Thursday 14 November 2019
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Taronis Technologies, Inc., (“Taronis” or “the Company”) (NASDAQ: TRNX), a leading renewable fuel producer serving the global industrial gas markets, today announced the formation of a new joint venture within the Republic of Turkey. The new Turkish company is called Taronis Fuels Turkey Gas Enerji Sanayi ve Ticaret Limited Sirketi (“Taronis Turkey”). This new entity is domiciled in Ankara, and is currently owned 74% by Taronis Fuels, Inc, and 26% by MC Consulting Teknoloji Enerji Danismanlik Sanayi ve Ticaret Limited Sirketi (“MC Consulting”). It is expected that a third party will enter into this joint venture prior to year end, reducing Taronis Fuels stake to approximately 48%.
The purpose of this new joint venture will be threefold. First, this is a precondition to the commencement of an existing $165 million purchase order for thirty 300KW Venturi plasma arc gasification units. The contract dated July 17, 2019 between Taronis Fuels and TA Grup Medya Enerji Sanayi Ticaret Anonim Sirketi (“TA Grup”) is scheduled to be assigned to MC Consulting. No other aspects of the existing $165 million contract would be affected by the assignment.
Second, the new joint venture is expected to significantly expand the scope of operations within the Republic of Turkey. The government of Turkey has asked the joint venture to consider a radical expansion of the scope of operations to support a comprehensive safety program in Turkey. To accomplish this, the joint venture would be responsible for forming additional commercial relationships for the purpose of launching manufacturing facilities in Turkey for the production of ancillary equipment required for the daily use of MagneGas as a replacement for existing metal cutting fuels such as acetylene, propylene and propane. This would include, but not be limited to the valves, regulators, torches, hoses and cylinders currently approved by Taronis for the use of MagneGas in the US today.
Lastly, the newly formed joint venture would partner with the various Turkish regulators to form a compressed gas, welding and metal cutting safety institute. The purpose of this organization would be to provide ongoing training and safety inspections to ensure the global best practices for the safe handling of compressed gases, including MagneGas, are adhered to across the entire industry. The Turkish metal cutting fuels market is very large, estimated at over $200 million in annual consumption by tens of thousands of laborers. Due to the sheer scale of this industry, without the implementation of globally recognized safety practices, thousands of Turkish laborers are impacted by fires and explosions each year.
“With our recent meetings in Anakara from November 8th to the 12th, we completed a series of legal requirements to meet the expanded scope of operations at the request of the Turkish authorities,” commented Scott Mahoney, CEO of Taronis. “We are expected to complete the formal incorporation process over the next week. With that complete, we anticipate that we will be given final approval, and can commence with operations under Taronis Turkey, including the invoice and payment of the initial five unit $18.75 million order under the existing contract.”
“We estimate that in order to meet the metal cutting fuel demands of the Republic of Turkey, approximately 100 300KW Venturi® plasma arc gasification units will need to be deployed. We have already seen our partner’s new 100,000 square foot facility outside of Polatki, which is a town just outside of Ankara. This facility can readily house 25-30 gasification units, with adequate space to handle the ancillary bottling, cylinder testing and other operations required to support the region’s metal cutting fuel demands, with a priority on initially servicing the Istanbul-Ankara industrial corridor first. We are in the process of identifying additional facilities to accommodate another 70 units over the next two years.”
“The Republic of Turkey is the 19th largest economy in the world. It is growing, and heavily industrialized, with a clear need for superior metal cutting fuel products. We are very pleased that the government there has recognized the environmental, safety and economic benefits of implementing MagneGas as a vastly superior metal cutting fuel solution. We are honored to have this partnership and take the next steps with MC Consulting to make this happen,” concluded Mr. Mahoney.
About Taronis Technologies, Inc.
Taronis Technologies, Inc. (TRNX) owns a patented plasma arc technology that enables two primary end use applications for fuel generation and water decontamination.
The Company’s fuel technology enables a wide use of hydrocarbon feedstocks to be readily converted to fossil fuel substitutes. The Company is developing a wide range of end market uses for these fuels, including replacement products for propane, compressed natural gas and liquid natural gas. The Company currently markets a proprietary metal cutting fuel that is highly competitive with acetylene. The Company distributes its proprietary metal cutting fuel through independent distributors in the US and through its wholly owned distributors doing business as “MagneGas Welding Supply”. The Company operates 22 locations across California, Texas, Louisiana, and Florida.
The Company’s technology can also be implemented for the decontamination of waste water, including sterilizing water, eradicating all pathogens. The technology is being tested to determine if it can completely eliminate pharmaceutical contaminants such as antibiotics, hormones and other soluble drugs suspended in contaminated water. Lastly, the technology process is capable of reducing or eliminating other contaminants, such as harmful metals, as well as nitrogen, phosphorus, and potassium levels that trigger toxic algae blooms. The technology has prospective commercial applications in the agricultural, pharmaceutical, and municipal waste markets. For more information on Taronis, please visit the Company's website at http://www.TaronisTech.com.
Taronis also owns a controlling interest in Water Pilot, LLC. The WATER PILOT® System immediately reduces water consumption and provides you with live remote consumption monitoring for long term leak protection and water asset management. An integral, client based alarm and notification system that reports to any mobile device. Water Pilot may be appropriate for a wide range of businesses or properties with a water meter. For more information, please visit our website at www.gowaterpilot.com/