Galenfeha Secures Additional Contracts, Prepares for Work in Additional Cities
FORT WORTH, Texas, June 14, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Galenfeha, Inc. (OTC:GLFH) announced today the company was awarded an additional contract by a prime contractor for work in the city of Shreveport, LA. The company also began an expansion program outside the city of Shreveport.
On June 8th, 2018, Galenfeha was awarded a contract in the amount of $310,000 for additional work for the City of Shreveport. The awarded work is for mainline point repairs and service lateral reconnects and will double this source of revenue in comparison to Q1 this year.
Galenfeha’s President and Chief Executive Officer, Mr. Trey Moore stated: “As we begin Phase II of the Shreveport, LA project, this additional work will strengthen our Q2 Revenue and Profit numbers as the City is off to a slower than anticipated start while they are completing Phase I. With multiple Phase II contracts beginning simultaneously, we foresee Q3 and Q4 more than doubling Q1 and Q2 and fully expect to meet our previously cited revenue and income projections for 2018.”
Today, the company is informing the public that wastewater rehabilitation work will begin outside the City of Shreveport starting third quarter this year. Multiple cities have afforded us the opportunity to expand our patented and protected lateral lining technology. .
Mr. Moore continued: “We are committed to our lateral material and equipment supplier, expanding into the other states secured by our exclusivity agreement, which creates growth for the company and adds value to our shareholders. We are excited about the additional growth opportunities outside of Shreveport and will continue to expand our operations as profits allow.”
Mr. Moore concluded: “I stand by my previous comments and pledge to work tirelessly for the shareholders of Galenfeha and to keep them updated on a continuous basis as material events, both positive and negative, occur over time.”
About Galenfeha, Inc.:
Galenfeha, Inc. was founded by James Ketner in March 2013 as an Engineering Services/Research and Development company headquartered in Ft. Worth Texas. The company generates revenue by receiving royalties from products we developed, providing engineering, regulatory, and business consulting services across numerous disciplines, such as aerospace, automotive, and medical, and by making investments in companies that our management team feels to be undervalued. With the recent acquisition of Fleaux Solutions, LLC, the company also generates revenues and earnings through government contracts. The Company’s stock has been actively traded () since September 2014.
For more information on Galenfeha's products and services, please visit
About Fleaux Services of Louisianan, LLC:
Fleaux Services was created from and is based on a simple concept -Service for the Customer and the Employees are Assets. Fleaux Services has built a sales and support team with an industry reputation of making sure that the customer is taken care of with quality parts and service. Fleaux Services is a company committed to Oil and Gas industry innovative solutions with a creative vision of complete system automation through hardware and software products. While investing in its employees and customers knowledge level of available technologies, we are devoted to creating simplicity through advanced Technology.
An online presentation of Fleaux Services:
For more information on Fleaux Services of Louisianan, LLC please visit
| Contact: Galenfeha, Inc. 817-945-6448 | Contact: Fleaux Services of Louisiana, LLC 318-603-5440 |
Forward-Looking Statements: Except for historical information contained in this release, the matters discussed are forward-looking statements that involve risks and uncertainties. When used in this release, words such as "anticipate," "believes," "estimate," "expect," "should," "intend," "projects," "objective," and "appears," and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company's management, as well as assumptions made by and information currently available to the Company's management. Among the factors that could cause actual results to differ materially are the following: the effect of business and economic conditions; the impact of competitive products and pricing; capacity and supply constraints or difficulties; product development, commercialization, or technological difficulties; the regulatory and trade environment; the impact of reimbursement rates and coverage; and the risk factors reported from time to time in the Company's SEC reports. The Company undertakes no obligation to revise any forward-looking statements as a result of future events or development
