STW Resources Holding Corp Releases Second Quarterly Report for 2015, Posts $4.8 Million in Six Month Revenues
Oct 06, 2015
OTC Disclosure News Service
–
STW Resources Holding Corp. (OTCQB: STWS), a quality provider of
oilfield services, water reclamation and processing management services
including water desalination, and rig cleaning services, announced today
that its financial results for the six months ended June 30, 2015 have
been filed on its Form 10-Q Quarterly Report with the Securities and
Exchange Commission (SEC). A detailed Form 10-Q is available on the
company web site.
STWS reported revenues from continuing operations for the six months
ended June 30, 2015, of $4,785,867. While this represents an 8%
reduction in revenues from the six months ended June 30, 2014, gross
profit during the six months ended June 30, 2015, increased by
$1,686,060, or 1,778% over the six months ended June 30, 2014. Our gross
profit margin during the six months ended June 30, 2015, increased to
37% as compared to 2% during the six months ending June 30, 2014. The
company demonstrated increased margin expansion during the six months
ended June 30, 2015. This significant improvement in gross profit
margin, demonstrates the success of management’s initiatives to reduce
overall costs, including cost of revenues, improved operating
efficiencies, and shedding less profitable revenues sources.
During the six months ended June 30, 2015, the Company discontinued its
operations of STW Energy LLC and STW Oilfield Construction LLC,
realizing losses from discontinued operations of $733,389 and $363,767,
for the six months ended June 30, 2015 and 2014, respectively. The
discontinuance of these operations enabled the Company to focus its
resources on its more profitable STW Pipeline and STW Water Resources
business segments.
Our non-GAAP net loss, which is net loss adjusted for non-cash expenses
including stock based compensation, amortization of debt discount,
financing costs, and change in derivative liability was $2,019,197 for
the six months ended June 30, 2015, as compared to $4,175,329 for the
six months ended June 30, 2014, an improvement of $2,156,132, or 51.6%.
During the six months ended June 30, 2015, the Company raised $2,119,000
of notes payable from accredited investors. The Company also closed an
initial $5.0 million non equity based credit facility to fund STW
Water’s design, engineer and build projects. This will allow the company
to execute on high margin water reclamation projects that continue to be
in demand within the company’s market area.
During the quarter ended September 30, 2015, the Company will
demonstrate the implementation of its growth strategy that will include
increased revenues, gross profit margins consistent with the six month
ended June 30, 2015, and continued management of our operating expenses.
Investor Database for Future Press Releases and Industry Updates
Interested investors and shareholders are invited to be added to the
corporate e-mail database for corporate press releases and periodic
industry updates by sending an email to cleanwater@stwresources.com.
About STW
Resources Holding Corp.
STW Resources Holding Corp. (OTCQB: STWS) is a quality provider of
oilfield services, water reclamation and processing management services,
and rig cleaning services through its three subsidiaries. STW Water is a
Total Water Solutions Provider Company and provides turnkey design build
solutions and provides its Customers with “out-of-the-box” design
solutions to meet customers’ water needs. STW Water has capabilities to
provide complete oversight of various water and wastewater projects with
primary focus on engineering, regulatory permitting including Public
Water Systems (PWS), Discharge permits, Pilot exception and Pilot Study,
equipment design treatment process design, manufacturing
installation and full scale Commissioning and training for all types of
oil gas, industrial and municipal water and wastewater markets
throughout the State of Texas. STW’s model of water ownership has had
recent successes and broken ground on the Ft. Stockton, Texas project.
The Company consults and provides customized water analysis, reclamation
and remediation services to a variety of complex oil and gas produced
and flowback water, brackish water, ocean water desalination,
industrial, and municipal applications throughout several geographic
locations to fill a tremendous need for fresh water in the areas they
service. As an independent solutions provider, STW utilizes proven
technologies, from various well-known manufacturers. These technologies
are available as fixed or mobile units with varying capabilities. STW’s
process ensures that the most effective and efficient technologies are
implemented. Current potential project locations include the Eagle Ford
Shale (TX), the west Texas Delaware and Permian Basins (TX), eastern New
Mexico, and ocean desalination projects on the Gulf Coast of Texas,
California, and Hawaii.
ENVIRONMENTAL IMPACT: If STW’s Proprietary
Desalination Technology is placed in-line with a Seawater Reverse
Osmosis System or used with a geothermal operation, there will be no
potentially environmentally sensitive brine concentrate discharged into
the local waterways since the system is Zero Liquid Discharge and 95-97%+ of
the fresh water is recovered in the process. The waste stream is salt
crystals and minerals. This is a completely Blue/Green operation that
provides a sustainable supply of power and water for municipal and
industrial use.
STW uses the latest technology to install new pipelines and repair and
maintain aging water, and oil gas pipelines (STW Pipeline).
https://www.facebook.com/STWRESOURCES
Forward-Looking Statements
This news release contains forward-looking statements about our
business, or financial condition and prospects that reflect our
assumptions and beliefs based on information currently available. We can
give no assurance that the expectations indicated by such
forward-looking statements will be realized. There may be other risks
and circumstances that we are unable to predict. When used in this news
release, words such as “believes,” “expects,” “intends,” “plans,”
“anticipates,” “estimates” and similar expressions are intended to
identify forward-looking statements, although there may be certain
forward-looking statements not accompanied by such expressions.
Investors should not place undue reliance on these forward-looking
statements, which speak only as of the date of this press release. The
company’s actual results could differ materially from those anticipated
in these forward-looking statements as a result of a variety of factors,
including risks discussed in the company’s periodic reports that are
filed with the Securities and Exchange Commission and available on its
website (www.sec.gov).
All forward-looking statements attributable to the Company or to persons
acting on its behalf are expressly qualified in their entirety by these
factors other than as required under the securities laws. The Company
does not assume a duty to update these forward-looking statements.
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