Phoenix Rising Companies Inc (PRCX)

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Phoenix Rising Companies' CEO Discusses Dramatic Recovery in Second Quarter Results

2020-08-20, 9:50 AM
PARK CITY, UT / ACCESSWIRE / August 20, 2020 / Phoenix Rising Companies (AKA Resort Savers, Inc) (OTCQB:RSSV) has reported second quarter results.

The Company is pleased to call attention to its recently filed second quarter results. The report shows a dramatic revenue increase over the first quarter. This occurred in the company's largest revenue generating subsidiary, Tieshan Oil.

During the first quarter results for TO were down drastically due to lack of gasoline sales in China. The first quarter lack of sales was directly caused by worldwide conditions. Second quarter results show a 400+% increase in revenue over the first quarter. This increase is attributed to higher demand for gasoline in China as fears diminished. Revenue has not reached the levels of 2019 in the second quarter but sales are showing a trend towards recovery.