Business
Perpetual Industries Reports Solid Third-Quarter Financial Growth
Perpetual Industries Reports Solid Third-Quarter Financial Growth.
About this update from Perpetual Industries Inc.
[{"type":"text","content":"\n AUBURN, Ind., Nov. 18, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- Perpetual Industries Inc. (OTCMARKETS:PRPI) (“Perpetual” or the “Company”), a diversified research and development company of energy-efficient technologies and products, is pleased to announce its financial and operating results for the third quarter of 2021. Third Quarter 2021 Highlights for the Period Ending Sept. 30, 2021: Gross revenues increased $5,142,718 in the nine months ending Sept. 30, 2021, over the same period in 2020Gross profits increased $2,869,103 in the nine months ending Sept. 30, 2021, over the same period in 2020Net income recorded of $566,676 in the three months ending Sept. 30, 2021, a growth of 443% over the same period in 2020 Cash reported on a consolidated basis of $3,471,679, an increase of 489% over year ending December 2020. Total current assets recorded of $3,553,323, an increase of 450% over year ending December 2020. \"Our continued growth is a testament to the strength of our divisions and our commitment to the company’s operational plan,” said Brent Bedford, Perpetual’s chief executive officer. “We see significant opportunities ahead to continue building sustainable, long-term value for our stakeholders.” “Our team has delivered another outstanding result in the third straight quarter of 2021, which demonstrates the successful execution of our business strategies,” said Trip Thomas, Perpetual’s chief financial officer. Read Perpetual Industries’ Q3 2021 financial report here About Perpetual Industries Inc. Incorporated in Nevada and based in Auburn, Indiana, Perpetual Industries Inc. (OTCMARKETS: PRPI) is an incubator for the development of new and innovative energy-efficient technologies. Our mission is to “perpetuate industry” by bringing value-added technologies to market. At the Company’s core is a proprietary technology known as the XYO Mechanical Balancing Technology, designed specifically to dynamically eliminate vibration in rotating equipment to create energy-efficient, environmentally responsible products. We are expanding our expertise and knowledge of energy-efficient technology by developing low-cost, green energy-powered solutions for a variety of industries, including renewable energy, blockchain mining, artifi...