Business
Galenfeha Inc. Reports Third Quarter 2021 Results and Guidance for Year End 2021
Galenfeha Inc. Reports Third Quarter 2021 Results and Guidance for Year End 2021.
About this update from New Green Hemp Inc.
[{"type":"text","content":"\n West Palm Beach, Florida, Nov. 17, 2021 (GLOBE NEWSWIRE) -- Galenfeha, Inc. (OTC Pink: GLFH) (the “Company” or “Galenfeha”), an emerging leader in the development and scaling of businesses in the automotive, oil and gas, and real estate sectors is pleased to announce financial and operating results for the third quarter 2021. The third quarter reflected a 32.3% increase in top-line revenue to $ 696,442 with each operating entity contributing to the positive trend. Net loss for the quarter was $(62,865), a 45.0% decrease from the previous quarter. AUTO RELATED During the third quarter, Eminent Auto Group, Inc. (https://eminentautogroup.com), received a third-party contract to store and transport vans for a major e-commerce company.  We expect this contract to significantly impact fourth-quarter revenue and earnings in a positive way. Detail Dudes maintained a steady revenue stream from its’ established client base and the car sales division will begin selling cars during the fourth quarter. OIL & GAS FIELD SERVICES Also, during the third quarter Poff’s Power Solutions, LLC contributed almost one-third of the revenue by significantly increasing billable hours for mechanical services. FOURTH QUARTER GUIDANCE Overall, management is giving guidance for the fourth quarter as follows: Fourth Quarter: Revenue   $ 1.2 - $1.5 million Earnings   $ (0.005) - $0.004 Full Year: Revenue   $ 2.4 - $2.7 million Earnings   $ (0.005) - $0.004 EVENTS SUBSEQUENT TO THE END OF THE THIRD QUARTER A longtime director for the Company, Mr. James Ketner, has resigned from the Board of Directors with “…no disputes or disagreements…”. The Board thanks him for his service a wishes him well as a shareholder of Galenfeha, Inc. and in his future endeavors. It has been confirmed that the Chief Executive Officer, Ryan Tyszkow, has now acquired in the open market, over 10.0 million shares of Galenfeha, Inc., in his personal portfolio. “I believe in our business plan, I believe in our public company structure and most of all I believe in our human assets and resources as we embark on this journey,” stated Mr. Tyszkow. “We look forward to proving to the shareholders and to ourselves that we can achieve the goals and challenges we have set ...