Business
Sustainable Green Team, Ltd. (SGTM) Reports Over $12.3 Million in Revenue and $3.4 Million in Gross Profit for the 2nd Quarter Ending June 30, 2020
Sustainable Green Team, Ltd. (SGTM) Reports Over $12.3 Million in Revenue and $3.4 Million in Gross Profit for the 2nd Quarter Ending June 30, 2020.
About this update from Sustainable Green Team, Ltd.
[{"type":"text","content":"\n ORLANDO, Fla, Aug. 10, 2020 (GLOBE NEWSWIRE) -- Sustainable Green Team, Ltd. (OTC: SGTM) (“SGTM” or the “Company”), a leading provider of environmentally beneficial solutions for tree and storm waste disposal, today announces another successful quarter, reporting positive numbers for the quarter ending June 30, 2020. For the three months ending June 30, 2020, SGTM recorded $12,382,491 in revenue, $3,458,164 in gross profit, and $40,710,954 in total assets, with a strong position of $7,004,807 in cash and liquid investments. For the six months ending June 30, 2020, SGTM recorded $18,637,665 in revenue and $5,081,772 in gross profit. During the second quarter ending June 30, 2020, the Company achieved current status with OTC Markets, opened a new facility in Central Florida, and upgraded key production facilities – all leading to another successful quarter during this year. SGTM’s CEO and Director Tony Raynor comments, “We are very pleased with our performance and direction. The positive recorded numbers were generated prior to achieving IPEMA certification for public surfacing material, which diversified our revenue stream; prior to construction at our Waste Management landfill facility, which further increased mulch manufacturing; and prior to the addition of new grapple hauling trucks to our fleet, which increased efficiency and production. The subsequent events look to lead us to another positive quarter, and we look forward to seeing how it all unfolds.” About Sustainable Green Team, Ltd. (SGTM) Sustainable Green Team, Ltd. (“SGTM”), 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’s solutions are founded in sustainability, based on vertically integrated operations that begin with collecting tree debris through its tree services division and collection sites and then, through its processing division, recycling and using that tree debris as a feedstock that is manufactured into a variety of organic, attrac...