SOURCE: WENR Corporation

June 21, 2012 07:15 ET

WENR Corporation Reports Year End Income 2011

RENO, NV--(Marketwire - Jun 21, 2012) - WENR Corporation (PINKSHEETS: WNRC) is pleased to announce the release of its financial statements for 2011. The Company has generated a record $2,655,799 in revenue and $615,471 in EBITDA in 2011 compared to $168,018 in revenue and a loss of $39,594 for the year 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.

"The Company had posted revenue of $1,500,804 as of June 30, 2011. Part of this revenue was a 'one-time' entry of $400,000. If this is taken out, the June 30th revenue would be approximately $1,100,000 and for the year $2,255,000. Our revenue has been consistent throughout the year," said Dan Green, President of WENR.

Review of Operating Results 12 Months Ended 12 Months Ended
Dec 31, 2011 Dec 31, 2010
Revenue $ 2,655,799 $ 168,018
Cost of Services Sold 974,060 94,242
Operating Expenses 1,151,124 107,017
EBITDA (loss) 615,471 (3,104 )
Net Income (loss) $ 517,625 $ (39,594 )
EPS* $ 0.02 $ (.00008 )
* Based on EBITDA and 32,786,542 shares outstanding.

The current shares outstanding are 38,786,542 shares. Six million shares have been returned to the Company but not cancelled by the transfer agent; leaving 32,786,542 shares outstanding. 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