WENR Corporation (PINKSHEETS: WNRC) is pleased to announce the release of its 2011 first quarter profit and loss statement for Satview Broadband Ltd., a wholly-owned subsidiary. The Company reports total income for Satview of $993,445 of which $398,699 was included as a one-time entry due to the purchase of the Elko cable system. This statement reflects only two months of revenue from the Elko system. The profit and loss statement is unaudited and subject to change. Shareholders can expect approximately $750,000 total income per quarter moving forward at current subscription levels. First Quarter Net Income from Satview was $533,043. The profit and loss statement can be found on the Company's website (www.wenr.net).
The Company plans to release Ngensolutions' profit and loss statement for the first quarter in the near future. However, the majority of Ngensolutions' revenue for the first quarter will be posted in the second quarter report.
"We are pleased to announce the Company is profitable," stated Dan Green, WENR's President. "We are currently growing with marketing to new customers, providing DVRs, Internet and telephone service to current customers." Mr. Green continued, "We are also finalizing the buy back of the Company's shares."
Satview Broadband, headquartered in Reno, Nevada, is a wholly-owned subsidiary of WENR Corp., and has been in operation for nine years. Satview holds franchise systems in six markets with plans to expand.
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