WENR Corporation Reports First and Second Quarter Income 2011
September 26 2011 - 6:15AM
Marketwired
WENR Corporation, (PINKSHEETS: WNRC) is pleased to announce the
release of its first and second quarter financial statements of
2011. The Company has generated a record $1,500,804 in revenue and
$476,848 in EBITDA in six months compared to $168,018 in revenue
and a loss of $39,594 for the year 2010. This is an 800% increase
in revenue (1,600% on an annualized basis) compared to 2010. This
is a result of the Company's new business focus launched June of
2010. The increase is primarily due to the acquisition of the cable
systems in Elko, Carlin and Battle Mountain, Nevada on December 31,
2010.
"Given the Company's new focus, this is the most exciting
release I have had the pleasure to make. I look forward to upcoming
opportunities to communicate with shareholders on our future plans
and progress," said Dan Green, President of WENR.
Tariq Ahmad, President of Satview Broadband a wholly-owned
subsidiary of WENR, stated, "Our team has performed exceptionally
to assimilate the Elko acquisition into our operations. We now have
the ability to acquire and absorb additional systems with
ease."
Review of Operating Results 6 Months Ended 12 Months Ended
June 30, 2011 Dec 31, 2010
--------------- ---------------
Revenue $ 1,500,804 $ 168,018
Cost of Services Sold 492,263 94,242
Operating Expenses 561,693 107,017
EBITDA (loss) 476,848 (3,104)
Net Income (loss) $ 398,498 $ (39,594)
EPS* $ 0.0125 $ (.00008)
* Based on EBITDA and 38,736,542 shares outstanding.
The current shares outstanding are 38,736,542 shares. After the
cancellation of returned shares, the outstanding will be 34,136,542
shares. The Company is still in the process of receiving additional
shares.
WENR Corporation is a media holding company, which has two
wholly-owned subsidiaries, Satview Broadband Ltd., and
Ngensolutions LLC.
Disclaimer
The foregoing contains forward-looking information within the
meaning of The Private Securities Litigation Act of 1995. Such
forward-looking statements involve certain risks and uncertainties.
The actual results may differ materially from such forward-looking
statements. The company does not undertake to publicly update or
revise its forward-looking statements even if experience or future
changes make it clear any projected results (expressed or implied)
will not be realized.
Contact: WENR Corporation Dan Green 435-709-8350
Wenr (CE) (USOTC:WNRC)
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