SOURCE: WENR Corporation

September 26, 2011 07:15 ET

WENR Corporation Reports First and Second Quarter Income 2011

The Company Generates $1.5 Million in Six Months

RENO, NV--(Marketwire - Sep 26, 2011) - WENR Corporation, (PINKSHEETS: WNRC) is pleased to announce the release of its first and second quarter financial statements of 2011. The Company has generated a record $1,500,804 in revenue and $476,848 in EBITDA in six months compared to $168,018 in revenue and a loss of $39,594 for the year 2010. This is an 800% increase in revenue (1,600% on an annualized basis) compared to 2010. This is a result of the Company's new business focus launched June of 2010. The increase is primarily due to the acquisition of the cable systems in Elko, Carlin and Battle Mountain, Nevada on December 31, 2010.

"Given the Company's new focus, this is the most exciting release I have had the pleasure to make. I look forward to upcoming opportunities to communicate with shareholders on our future plans and progress," said Dan Green, President of WENR.

Tariq Ahmad, President of Satview Broadband a wholly-owned subsidiary of WENR, stated, "Our team has performed exceptionally to assimilate the Elko acquisition into our operations. We now have the ability to acquire and absorb additional systems with ease."

Review of Operating Results 6 Months Ended 12 Months Ended
June 30, 2011 Dec 31, 2010
Revenue $ 1,500,804 $ 168,018
Cost of Services Sold 492,263 94,242
Operating Expenses 561,693 107,017
EBITDA (loss) 476,848 (3,104 )
Net Income (loss) $ 398,498 $ (39,594 )
EPS* $ 0.0125 $ (.00008 )
* Based on EBITDA and 38,736,542 shares outstanding.

The current shares outstanding are 38,736,542 shares. After the cancellation of returned shares, the outstanding will be 34,136,542 shares. The Company is still in the process of receiving additional shares.

WENR Corporation is a media holding company, which has two wholly-owned subsidiaries, Satview Broadband Ltd., and Ngensolutions LLC.

Disclaimer

The foregoing contains forward-looking information within the meaning of The Private Securities Litigation Act of 1995. Such forward-looking statements involve certain risks and uncertainties. The actual results may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear any projected results (expressed or implied) will not be realized.

Contact Information

  • Contact:
    WENR Corporation
    Dan Green
    435-709-8350