ATLANTA, GA , Oct. 10, 2017 (GLOBE NEWSWIRE) -- AlumiFuel Power Corporation (AFPW) ("AlumiFuel" or the "Company") today announced that preliminary revenue results for the third quarter of 2017 exceeded $450,000.
For the third quarter ended September 30, 2017, AlumiFuel topline revenue exceeded $450,000, representing a 6% sequential increase over the second quarter ended June 30, 2017 and a 49% increase over the first quarter ended March 31, 2017. During the third quarter of 2017, the Company added 24 new customers.
The information in this release is preliminary and based upon the information available to the Company as of the date of this release. The information above is forward-looking information and subject to revision or adjustment. However, the Company does not expect material revisions to these preliminary results.
About AlumiFuel Power Corporation
AlumiFuel, operating through its wholly owned subsidiaries, is transforming into a diversified holding company under new leadership and is expected to be renamed Phoenix Equity Holdings Corporation. The Company is exploring several revenue producing acquisition opportunities as it works to build a robust cash flow stream. AlumiFuel currently operates three divisions in the multi-billion dollar temporary staffing industry and holds patented technology for hydrogen generation through its wholly owned subsidiary, NovoFuel.
