ORLANDO, Fla., June 16, 2020 (GLOBE NEWSWIRE) — National Storm Recovery Inc. (OTC: NSRI) (“NSRI” or the “Company”), a leading provider of environmentally beneficial solutions for tree and storm waste disposal, today announces first quarter financial results (for the 3 month period ending March 31, 2020 as already reported on otcmarkets.com).
Within the Company’s first quarter 2020, utilizing only approximately 2 months of post-acquisition revenue of Mulch Manufacturing, the Company recorded revenues of $6,255,262, $1,728,506 of gross profit, and $34,711,993 in total assets, including $4,303,668 of cash.
Tony Raynor, NSRI’s CEO, comments: “This year’s first quarter has been extraordinary! We have made major upgrades at our key production facility to increase our production. We are prepared to meet the challenges and have planned accordingly for the hurricane season, the busiest season within our industry.”
About National Storm Recovery, Inc. (NSRI)
National Storm Recovery, Inc., (“NSRI”), through its subsidiaries, provides tree services, debris hauling and removal, biomass recycling, mulch manufacturing, packaging and sales. The Company was established with the objective of providing a solution for the treatment and handling of tree debris that has historically been disposed of in landfills, creating an environmental burden and pressure on disposal sites around the nation. The Company and its Sustainable Green Team’s solutions are founded in sustainability, based on vertically integrated operations that begin with collecting tree debris through the Company’s tree services division and collection sites, and then, through the Company’s processing division, recycling and using that tree debris as a feedstock that is manufactured into a variety of organic, attractive, next-generation mulch products that are packaged and sold to landscapers, installers and garden centers. The Company plans to expand its operations through a combination of organic growth and strategic acquisitions that are both accretive to earnings and are positioned for rapid growth from the resulting synergistic opportunities identified. The Company’s customers include governmental, residential and commercial clients.
To learn more please visit: www.NationalArborCare.com