Clean Power Concepts Inc. announces year-end results
Aug 18, 2011 (TheNewswire.ca via COMTEX) -- (via Thenewswire.ca)
August 18, 2011 - Regina, Canada - Clean Power Concepts Inc. (listed as CPOW on the OTCQB and DZZ on the Frankfurt exchange) ("Clean Power" or the "Company") is pleased to announce it has filed its Form 10K incl the audited financial statements for the fiscal year 2010 ended April 30, 2011 with securities regulators.
Highlights
-Record sales revenue of $909,728 (up 144%) including
-canola meal sales of $446,512 and
-canola oil sales of $454,761.
Sales Revenue for the year ended April 30, 2011 of $909,728 was 144% higher than the year ended April 30, 2010. The two primary components of revenue for the latest reporting period were sales of canola meal (approx. 49% of the Company's revenue) and canola oil (approx. 50% of the Company's revenue). For the year ended April 30, 2011 canola meal sales were $446,512 versus $nil for the year ended April 30, 2010; sales of canola oil were $454,761 versus $26,927 respectively for the same periods; and other revenue was $8,455 for the year ended April 30, 2011 versus $345,700 for the year ended April 30, 2010. Gross margin expressed in dollars for the recent reporting period increased by 33% from $ 137,591 to $ 411,722 as compared to the year ended April 30, 2010. CEO Michael Shenher states; " These sales numbers are exciting for all shareholders as it shows that we have the company on the right track and that the market for our products is expanding exponentially. I expect to see this exhilarated growth in revenue to continue throughout the coming year".
Outlook 2011
Income, population growth, especially in developing countries, and the global trend towards non-petroleum based fuel alternatives are expected to lead to continued strong demand for vegetable oils for human consumption, nutraceuticals, biofuel, fuel additives etc, as well as protein meals used in livestock feeding.
The Company sees an enormous opportunity in the biofuel additives and lubricant market with its MOPO(R) brand of products, as well as the canola meal-based specialty aquaculture feed industry with its patented process licensed from the Canadian Department of Fisheries and Oceans. Clean Power will do so by shifting its focus away from the lower margin oilseed crushing model to the high margin business of producing eco-lubricants and fuel conditioners, nutraceuticals and developing fish food for aquaculture and other primary protein products. Further the company is pleased to announce that the restructuring effort is proceeding as planned and in fact the company has been able to successfully negotiate termination of a number of non-core initiatives without incurring any additional costs. These actions allow the company to focus on its core business and reduce operating and capital costs that were associated with these terminated initiatives. CEO Michael Shenher commented, " The progress our consultants Phoenix Alliance have made in the execution of our corporate turnaround has been very exciting and the benefits from such efforts will be immediately reflected in our go forward plan". I am sure that as further progress is made we can expect an immediate strengthening in shareholder values.
Clean Power Concepts produces Filtered Canola Oil, Canola Feed Meal, Lubricants, Chemicals and Additives that are marketed under the CLEAN POWER CONCEPTS(R), MOPO(R) brand names. For more information, please visit the Company's website: www.cleanpowerconcepts.com.
Safe Harbor Statement:
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The forward-looking statements are based on current expectations, estimates and projections made by management. The Company intends for the forward-looking statements to be covered by the safe harbor provisions for forward-looking statements. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," or variations of such words are intended to identify such forward-looking statements. The forward-looking statements contained in this press release include, statements regarding the anticipated increased capacity, the continued demand for our products, the potential revenue stream from the new capacity and our ability to complete construction of our aqua feed pilot plant. All forward-looking statements in this press release are made as of the date of this press release, and the Company assumes no obligation to update these forward-looking statements other than as required by law. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements and include the risk that the production capacity will not be as anticipated, the results derived from the additional capacity or the revenue derived theerfrom will be less than anticipated, our products will not receive favorable acceptance in the market, the demand for our products will not be strong and even if strong will not be strong enough to support construction of a new pilot plant. and the risk factors discussed in our Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Copies of these filings are available at www.sec.gov.
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