Oil & Gas - Energy - Commodities - Resources (OILBRENT)

[windough-shopper]

AGOE

Its not only sustainable

It accelerates


You will note the ONE TIME non recurring charges,

Add those back.....you get earnings of about 3 pennies......times 4 quarters......you get earnings of .12......20 times earnings is $2.4!!!!!!!!!

Further, the first half of year is usually slower then 2nd half

This DOESN'T include potential deals and more

Amerigo Energy, Inc. Reports Q1 Financials
Record Sales Reported Through the Quest Solution, Inc. Subsidiary



HENDERSON, Nev., May 21, 2014 (GLOBE NEWSWIRE via COMTEX) --

via PRWEB - Amerigo Energy, Inc. "The Company" /quotes/zigman/11136848/delayed/quotes/nls/agoe AGOE -5.00% is pleased to announce financial results for the quarter ending March 31, 2014. The full 10-Q filing is available on the SEC's website: http://www.sec.gov

It should be noted the Company's name and symbol change are pending FINRA approval as the PRE14C and DEF14C have been filed with the Securities and Exchange Commission.

Key financial results of operations for the quarter ended March 31, 2014 are summarized herein:

Revenue for the 3 months ended March 31, 2014 was $9,650,265, whereas for the same period in 2013, the Company's wholly owned subsidiary Quest Solution had revenues of $5,844,221. Revenues increased approximately $3,806,044 or 65% due to increased sales from all of our divisions, along with increasing our sales efforts by adding a dedicated Solution and Services Director;

Gross margin for the company was approximately 21% for the 3 months ended March 31, 2014, which is in line with the 2013 gross margin for the same period of 22.65%;

Net income for the period was reported at $246,419, which included non-cash expenses of $347,261 related to expenses paid in 2013 for an insurance policy covering the company through November 2014, as well as the costs associated with the acquisition of Quest Solution of approximately $36,888, and the one-time losses related to canceling the previous license agreement with Le Flav Spirits of $93,578 as well as a $18,995 one-time write off from the same importer.

"We are pleased to release financials which demonstrate significant growth in our critical areas while maintaining what we feel is a highly desirable gross margin," stated Kurt Thomet, President of Quest Solution, Inc. "It should be noted that the primary force behind the numbers is the company's wholly owned subsidiary Quest Solution. Quest has been a true performer in what we view as a rich vertical and today's numbers validate our purpose and intent to exploit this market opportunity." Milestones from the period include:

Acquisition of Quest Solution, Inc.

Quest Solution signs new $2 million contract with a nationwide specialty retailer

Quest Solution being recognized by Motorola Solutions Empower Circle

"The sales increase reflects an aggressive sales effort during the fiscal year ended December 31, 2013," added George Zicman, Vice President of Sales. "The success we've enjoyed thus far and the increase in our sales force gives us sufficient reason for optimism in the quarters ahead and we are optimistic about continued success in our identified markets."