SOURCE: Planet Resource Recovery, Inc.

December 03, 2014 10:55 ET

Planet Resource Recovery, Inc. Post Financials for 3Q 2014

HOUSTON, TX--(Marketwired - Dec 3, 2014) -  Planet Resource Recovery, Inc. (OTC PINK: PRRY) announced today that the Company has published its positive financial statements for the 9-months ended September 30, 2014. The unaudited financial statements are available at http://www.otcmarkets.com/stock/PRRY/filings

Sales Revenues for the nine months ended September 30, 2014 were $639,570 when compared to Sales Revenue of $265,457 for the twelve month period ended December 31, 2013.That is an increase of 240 percent over the full year 2013. Operational Expenses for the nine months ended September 30, 2014 were $400,717 versus $402,627. Net Income for the nine months through September 30, 2014 was $75,000 versus a net loss of $210,989 for twelve months of fiscal 2013.

Company President and CEO, Enrique Salinas, stated, "The continued growth in sales were fueled by the high percentage of customer reorders and referrals for the PetroLuxus™ line of products. Some customers have reported their oil production has increased by over 50-100 percent after a PetroLuxus treatment."

"Additionally, we continue to expand our efforts into international markets. Through an international representative, we have been working with a large multinational company that has found our chemistries could potentially significantly increase their profits by the removal of contaminants in their crude oil. Initial purchases have been made for a larger scale field test. Further testing is being completed and results will be soon available."

"AquaLuxus WC continues to gain acceptance in the treatment of water wells and irrigation equipment. Farmers that have tested AquaLuxus WC are realizing pump rate increases of over 100 percent or greater in water flow. The Company has embarked on a new marketing program to farmers in the Western United States featuring the most recent results from AquaLuxus WC treatments."

Mr. Salinas continued, "This year has been the Company's best year ever in Sales and Growth to date. We will continue to strengthen the actions we have taken to continue our growth and acceptance of our products in the marketplace."

About Planet Resource Recovery, Inc.
Planet Resource Recovery, Inc. is the developer, manufacturer and marketer of the earth friendly products of the PetroLuxus™ Technology Platform which currently include the PetroLuxus™ family of products for the Oil & Gas industry and nontoxic AquaLuxus treatment for the water industry. For more information visit: www.planetresource.net.

Safe Harbor Statement
Under The Private Securities Litigation Reform Act of 1995: The statements in this presentation that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. Additional risks and uncertainties are set forth in the Company's Annual Report for the year ended December 31, 2009, the Company's Quarterly Report for the First quarter ended March 31, 2014. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.

Contact Information

  • Contact:
    Planet Resource Recovery, Inc.
    281-213-5266