NESCONSET, NY / ACCESSWIRE / March 25, 2015 /
Integrated Energy Solutions Inc. (PINKSHEETS:IENG), (the "Company"
or "Integrated Energy" or "IES") (www.Integrated-Energy.co), a
fully integrated large and small format downstream oil marketer as
well as waste oil collector, value-adding recycler and
re-distributor, Is pleased to report the closing of their
previously announced acquisition of the below Companies, having
satisfied the requirement under the original agreement by raising
$800,000 in growth capital for the collective group of companies
(see Company 8K dated December 16th, 2014):
NEW OPERATING COMPANIES
- Patten Energy Enterprises Inc. (or "Patten"),
(California), is a 25 year old energy marketing and
consulting company to over 80 customers, many of which are fortune
500 Companies. Patten distributes bulk oil and accompanying
services throughout California with many notable customers
including local and State Governments of California, AT&T,
Disneyland, Pepsi and Waste Management. Patten is the cornerstone
of the new consolidated group of companies and intends to link all
three units synergistically to grow margins and top-line
revenues;
- Atlantic Pacific LLC (or "Atlantic"),
(Indiana), Atlantic is a collector, value-added recycler
and re-distributor or waste oils and water. Although being the
earliest-stage company in the IES portfolio, Atlantic is on pace to
potentially produce over $1 million in sales for FY 2015 not
including current negotiations with several potential new
customers. Atlantic's revenues have the highest gross and EBITDA
margins out of all three of IES's businesses. Atlantic has
considerable fixed assets now owned by IES including large tanks
and tank trucks;
- AP Lubes Inc., (or "AP"), (Delaware), is an
oil and antifreeze bottling Company. AP Lubes markets their own
bottled oils and anti freezes under the name AP Lubes, as well as
contract bottles for customers such as convenience stores and gas
stations. On a yearly run-rate, AP is currently generating roughly
$1.2 million per year in revenues. IES intends to improve these
figures by making capital investments to the business unit as
needed.
SALES & PROFITABILITY GUIDANCE
For the period ending December 31st, 2015, the consolidated
revenue for the three companies is forecasted to be roughly
$8,000,000.00 with EBITDA in the range of $800,000[1].
THE DEAL
In exchange for the three acquired Companies, IES has issued a
total of 2,350,000 preferred shares, a $50,000 promissory note and
a $50,000 cash payment to one of the acquired Companies. The
Company also was required to raise operating and growth capital for
IES and the subsidiaries in the amount of $700,000 and has
surpassed that by raising $800,000.
THE BALANCE SHEET
2014 was a challenging time for a transitioning Company like
Integrate Energy Solutions. And although the Company closed a
series of high-profile acquisitions into the umbrella, it took
almost 12 months to complete; during this time Investor Interest
waned and several funders converted investments into shares at
depressed levels.
Conditional upon participation by the existing lenders, the
company hopes to consolidate the several groups of lenders into one
new investors/ lenders who the Company feels would take a
longer-term and less aggressive position in the stock.
ERNEST B. REMO, CEO, INTEGRATED ENERGY,
COMMENTED:
"We are thrilled to be through the turbulent times of 2014. We
feel we have turned a corner as we enter Q2 2015 and are truly
excited as all three of our business units ramp-up into 2016-- We
feel access to the capital markets will help the collective group
grow."
"One thing we hope to report and update our patient Shareholders
on in 2015 is new business synergies between our three business.
IES' three subsidiaries currently operate alone in 3 separate
States where we feel all 3 could be operating in each creating
vertical integration, corporate cost sharing and internal sales
generation."
ABOUT INTEGRATED ENERGY SOLUTIONS
Integrated Energy Solutions Inc., a publically traded SEC
reporting Company on OTC Markets Exchange under the symbol
(OTCBB:IENG), is a fully integrated large and small format
downstream oil marketer, as well as waste oil collector,
value-adding recycler and re-distributor.
Through its three wholly owned subsidiaries, Patten Energy
Enterprises Inc., Atlantic Pacific LLC and AP Lubes Inc. the
company seeks to expand the regional businesses of each to other
states where respective Company subsidiaries operate to vertically
integrate, cost-share and generate new revenues from within the
existing Company "ecosystem."
FORWARD LOOKING STATEMENTS
The information contained herein includes forward-looking
statements. These statements relate to future events or to our
future financial performance, and involve known and unknown risks,
uncertainties and other factors that may cause our actual results,
levels of activity, performance, or achievements to be materially
different from any future results, levels of activity, performance
or achievements expressed or implied by these forward-looking
statements. You should not place undue reliance on forward-looking
statements since they involve known and unknown risks,
uncertainties and other factors which are, in some cases, beyond
our control and which could, and likely will, materially affect
actual results, levels of activity, performance or achievements.
Any forward-looking statement reflects our current views with
respect to future events and is subject to these and other risks,
uncertainties and assumptions relating to our operations, results
of operations, growth strategy and liquidity. We assume no
obligation to publicly update or revise these forward-looking
statements for any reason, or to update the reasons actual results
could differ materially from those anticipated in these
forward-looking statements, even if new information becomes
available in the future.
INVESTOR & MEDIA RELATIONS CONTACT:
Ryan Troup, Circadian Group IR
Toll Free: 1
(855) 228-7336
Email: Ryan@Circadian-Group.com
1-- EBITDA is a non GAAP measurement and Investors are cautioned
to review annual and periodic reports of the Company with the SEC
for comparison to non-GAAP reports.
SOURCE: Integrated Energy Solutions Inc.
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