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Taronis Generates $1.85 Million in June 2019 Revenues and Record Quarterly Sales
Represents 111% Year-Over-Year Growth
PHOENIX, AZ / ACCESSWIRE / July 11, 2019 / Taronis Technologies, Inc., ("Taronis" or "the Company") (NASDAQ:TRNX), a leading clean technology company in the renewable resources and environmental conservation industry, today announced June sales of $1.85 million. This represents 111% growth when compared to June 2018 sales of just under $0.875 million.
For the second quarter, the Company generated a Company record of $6.06 million of sales, which was 107% higher than the $2.9 million of sales reported for the same period in 2018. Sales growth has also been steadily accelerating, as the second quarter sales were approximately 20% higher than the $4.9 million reported for the first quarter of 2019.
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"Our team has been doing an excellent job growing our revenues," commented Scott Mahoney, CEO of Taronis. "We faced several challenges to revenue growth during the quarter. First, there has been a national shortage of helium, and this has caused us to lose several meaningful accounts in the southern California market. Additionally, we experienced a moderate seasonal slowdown in several of our markets which is typical during the peak summer months."
"Historically, we would experience double digit decreases in sales from May to June. For example, in 2017 our June sales were 21% lower than in May due to seasonality. In 2018, our sales were almost 13% lower in June than in May. This year, our ability to drive new client growth offset much more of our seasonality, and we only saw a 9% change from May to June," continued Mr. Mahoney.
"We are effectively leveraging our MagneGas product to gain new clients, conduct field demonstrations, and generate interest in our products and our Company. Our team is using this process to drive results, and we are optimistically looking forward to a very productive third quarter," concluded Mr. Mahoney.
Additional sales growth details are as follows:
The Company experienced the highest year-over-year growth in the Texas-Louisiana market. Sales for the month of June for this region were just over $0.8 million. Sales increased almost 4.5x over the same period last year, as the Company has made a series of acquisitions that now make it one of the largest independent industrial gas distributors in the region.
The Company also experienced rapid year-over-year growth in June in the California market, which generated just under $0.8 million sales for. This represents approximately 65% growth compared to June of 2018, which was largely the result of the acquisition of Complete Welding in Los Angeles in February of this year. This area has been most affected by the national shortage of helium. The Company has identified a potential supply solution, and this could beneficially impact revenues for the Los Angeles market as early as August of 2019.
In the Florida market, sales were just over $0.25 million in May, largely unchanged when compared to the prior year. The Company is expected to launch its fully operational fill plant operations in Clearwater, Florida at the beginning of July. With this new capability, the Florida market has identified almost $2.0 million in potential new client opportunities that the Company could now effectively compete for against the largest distributors in the region. Management believes this development could have a significant impact on the Florida market's outlook for growth going forward.
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.
SOURCE:Taronis Technologies, Inc.
That would WORK for me. :)
Let's see $30!
Thumbs up for that! :)
2.75 x 282 with 90 k plus traded already
Volume over 20,000
Get your orders in.
Nice movement this morning. Will add below $3.
2.51 x 3.40 l2
Now 300 at 3.40
VERB, 1100 shares sold at $3.50 already this morning. Go VERB
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Job postings for Facebook in Albany, Ohio.
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Nice, TY!
Florida Division of Corporations
Department of State Division of Corporations Search Records Detail By Document Number
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Detail by Entity Name
Florida Limited Liability Company
POCKETCHAIN, LLC.
Filing Information
Document Number
L18000029349
FEI/EIN Number
NONE
Date Filed
02/01/2018
Effective Date
02/01/2018
State
FL
Status
ACTIVE
Principal Address
1732 1ST AVENUE
25955
NEW YORK, NY 10128
Mailing Address
1732 1ST AVENUE
25955
NEW YORK, NY 10128
Registered Agent Name & Address
INCORP SERVICES, INC.
17888 67TH COURT NORTH
LOXAHATCHEE, FL, FL 33470
Authorized Person(s) Detail
Name & Address
Title MGR
LOVATT, DAVID
1732 1ST AVE
NEW YORK, NY 10128
Annual Reports
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02/01/2018 -- Florida Limited Liability View image in PDF format
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Ask at .01 now
Dang, on my phhone I have an extra 0. Not one billion my bad!
One billion at 84
Correct your posted information
IFXY Security Details
Share Structure
Market Value1 $25,442,113 a/o Jan 24, 2018
Authorized Shares 6,990,000,000 a/o Jan 22, 2018
Outstanding Shares 5,530,894,237 a/o Jan 22, 2018
-Restricted 3,542,063,574 a/o Jan 22, 2018
-Unrestricted 1,988,830,663 a/o Jan 22, 2018
Held at DTC Not Available
Float Not Available
Par Value 0.001
More flippers coming
Whales must be buying!?
BTW, can you see where the price is now (presplit) much lower than I posted.
As shares open up to trade this will continue the slow grind back down.
Lol, you got me!
I love your predictions, since your always way off! How do you make money trading?
Nope, not buying. Just would like to see some of the longs get some more cheap shares so they can average down. Lol.
That is funny. I won't buy back in even if it's at 0001, which is where it's going once all longs see that they have been scammed.
Of course you do. You got to see 0007 when I said it was coming and now you will get to see 0006 too. Watch and see!
More shares coming! If you want in lower just wait a few days, Freeze will be at 0005 next week. Nothing but down hill since July, charts don't lie, this stock has been bleeding for months. But IMO, it's a strong buy, Not! Definitely a strong sell, so don't wait till Friday.
Looks here more 0007 coming.
DUM, DUMP, DUMPATHON!
Oh my look at those sell orders. Tripp trips!
Lol. Nice!
Ok, for all the Freeze Cheerleaders, where is this massive run everyone of you keep talking about? Oh, that's right, it's not happening. Closing at 0008 and opening at 0007 tomorrow.
More late news about conversions, figures. More late conversion news to follow. Longs average down (SILLY), here comes more 7's, 6's next stop.