Greenbelt Resources Completes 2018 Year With Strong Fourth Quarter
2018 Financial Statements reflect a Q4 profit and substantial cash flow
PASO ROBLES, Calif., April 04, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Last week, (OTC: GRCO) (Greenbelt), the developer and producer of a sustainable ECOsystem model that transforms food, beverage and agricultural industry waste into revenue generating bioproducts, posted its 2018 Annual Disclosure Statement with annual Financial Statements to the OTC Markets Group, indicating Greenbelt finished the year with a profitable fourth quarter and a year over year increase in cash. Greenbelt sustained a comparative annual 71.0% decrease in its net loss and a 143% increase in its cash balance.
The financial and especially the operational successes in 2018 mark a turning point for Greenbelt. Over the past several years, management has focused on pivoting the company via applying and adapting its proven ECOsystem technology to new markets; enhancing its technology to produce new in-demand products.
The financial statements indicate that Greenbelt has found success in at least two of those new markets: the hemp CBD (cannabidiol) industry in which ethanol is used as an extraction solvent, and the food industry for which demand for plant-based protein is growing exponentially. Moreover, although the two industries are non-competitive, Greenbelt’s technology delivers solutions that combine the two markets symbiotically.
Greenbelt prides itself on providing socially responsible sustainable solutions that make good business sense. The company has taken even greater pride in expanding the company’s breadth of expertise from technology already used to convert food, beverage and ag industry wastes into biofuel, animal feed and fertilizer, to now also including expertise in cultivating and processing duckweed, an extremely low impact plant-based source of protein and starch. More importantly, as predicted previously when Greenbelt’s relationship with the Andrew J Young Foundation (“AYF”) commenced in 2017, the application of this new internal expertise has resulted in a solid revenue stream and cash flow throughout the 2018 year from project work conducted on the AYF Duckweed Project, funded by its affiliated business unit Duckweed DAYS, LLC.
In another complementary initiative, Greenbelt’s sustainable credentials and the relatively small carbon footprint for the bioethanol produced by its ECOsystem deployments attracted Purnol, Inc. to use Greenbelt’s white-labelled bioethanol for its namesake premium brand of extraction solvent. A significant portion of Q4 revenue was the result of the sale of licensing and exclusive marketing rights to Purnol.
Greenbelt’s CEO Darren Eng, indicated that “It appears we can expect substantially more from these two markets in 2019. PURNOL has committed to purchasing as much ethanol as Greenbelt can produce from its existing facility at the fixed price and has indicated a desire for Greenbelt to expand production” which will result in added Greenbelt system deployments.
In addition, as recently stated in the CEO Report, substantially more revenue from AYF Duckweed Project work is imminent and there are more customers interested in deploying Greenbelt systems.
In just the two markets highlighted, the growth of Greenbelt’s main customer in each segment alone will directly increase Greenbelt’s growth substantially.
About Greenbelt Resources
Greenbelt Resources Corporation™ is an award-winning provider of automated, modular, small scale sustainable energy production systems, products and processes that enable local cost-effective processing and disposal of food, beverage and cellulosic waste to be converted into commercially viable saleable consumer products such as bio ethanol, protein concentrate and fertilizer. Operating in several business segments, Greenbelt provides value added solutions to the cannabis, food, beverage and agricultural industries. Greenbelt is listed on the OTC Markets Group under the symbol GRCO. More information is available at .
Forward-Looking Statements & Safe Harbor
This document includes certain statements, predictions and projections that may be considered forward-looking statements under securities law. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the supply and demand for biofuels, our ability to remain technologically competitive and other economic, competitive and technological factors involving the Company's operations, markets, services, products and prices.
Contact:
Darren Eng, CEO
Greenbelt Resources Corporation
888-995-GRCO (4726) x 101
