Business
Sustainable Green Team, Ltd. (SGTM) Reports Over $5.9 Million in Revenue for 2nd Quarter Ending Sept. 30, 2020, Generates $24.5 Million Within 9 Months
Sustainable Green Team, Ltd. (SGTM) Reports Over $5.9 Million in Revenue for 2nd Quarter Ending Sept. 30, 2020, Generates $24.5 Million Within 9 Months.
About this update from Sustainable Green Team, Ltd.
[{"type":"text","content":"\n ORLANDO, Fla., Nov. 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, bringing the Company’s revenues to $24.5 million for the first nine months of 2020. For the three months ending Sept. 30, 2020, SGTM recorded $5,907,155 in revenue, $422,133 in gross profit and $36,140,923 in total assets, with a strong position of $5,936,798 in cash and liquid investments. For the nine months ending Sept. 30, 2020, SGTM recorded $24,544,820 in revenue and $5,503,905 in gross profit. Notable achievements during the third quarter ending Sept. 30, 2020, include: Completion of company name and trading symbol change, finalized July 21 (view release). Decrease of authorized shares from 3,249,000,000 to 250,000,000, a 93% reduction, as of July 21 (view release).  Receipt of IPEMA certification to recycle tree and storm waste into public playground surfacing material, a $4 billion market, on July 23 (view release). Completion of construction on Waste Management landfill facility, increasing mulch manufacturing capabilities, on July 28 (view release).  Expansion of vertically integrated operations with the addition of new grapple hauling trucks to the Company’s fleet, announced Aug. 5 (view release). Receipt of permit approval to accept debris and manufacture mulch at the Company’s largest state-of-the-art facility, announced Aug. 13 (view release). All of these achievements have led to another successful quarter and year for the Company. SGTM’s CEO and Director Tony Raynor comments, “I am proud of our team and the progress we have made this year in achieving these key milestones. We plan to proceed in a similar manner during the remaining quarter and end 2020 on a strong note. In keeping with that aim, we have already completed our two-year audit to commence our Form 10 process, which will enable us to begin 2021 as a fully reporting company and uplist accordingly.” 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, pack...