DEEP
GREEN WASTE & RECYCLING (DGWR) REPORTS FIRST QUARTER 2021
FINANCIAL RESULTS
Woodinville,
WA -- May 24, 2021 -- InvestorsHub NewsWire
-- Deep
Green
Waste
& Recycling, Inc. (OTCQB:
DGWR), a sustainable waste and recycle management
services
company for commercial
customers, announced
its
financial
results for the first quarter ended March 31,
2021.
Financial Results
-
Deep
Green Waste & Recycling posted revenues of
$24,837
for
the three-month
period
ending March 31, 2021
compared
to $0 for the same period a
year ago.
-
Gross
Profit for the for the
three
month period ending
March 31,
2021 increased to
$17,816
for the
quarter compared to $0 for the same period a
year ago. The gross profit percentage for this three-month
period
was 71.8%.
-
Operating
Expenses were $149,525
for
the three month
period
ending March 31, 2021
as
compared to $94,051
for the
same period a year ago, an increase of
$59.0%.
-
Loss from
Operations increased
40.0%
to $131,709
for
the three month
period
ending March 31,
2021, compared to
$94,051
for the
same period last year.
-
Net
loss
for
the three-month
period
ending March 31,
2021, was
($328,138)
compared
to a net loss of ($131,556)
for the same period a year ago, an increase
of
149.4%.
The
increased net loss was primarily due to an increased
derivative liability
expense of $157,936
for the
three-month period ending March 31 compared with
$12,703
for the
same period a year ago, an increase
of 1,143.3%.
"We are very pleased
with our
first
quarter 2021
results
and with
the Amwaste
asset
acquisition," said Lloyd
Spencer, President and CEO
of
Deep Green Waste & Recycling.
"We anticipate
continued growth by acquiring profitable waste and
remediation services companies in the Eastern
United
States, and growing
Amwaste's
business
by expanding
its
customer
base and acquiring equipment
assets."
About Deep Green Waste & Recycling, Inc.
Deep Green Waste & Recycling, Inc.
(OTCQB:
DGWR)
is reestablishing itself as an innovative waste and recycling
company which provides sustainable
waste and recycle management services, and
helps
commercial
customers realize cost-savings using streamlined processes that
help reduce, re-purpose and recycle waste.
In
February 2021, the Company completed an asset acquisition
with Amwaste,
Inc. and began operating a commercial waste and debris disposal
services business through a wholly owned subsidiary that is doing
business as Amwaste
in
Brunswick, Georgia.
For more
information, visit:
https://DeepGreenWaste.com.
About
Amwaste
Amwaste
is
a wholly owned subsidiary of
Deep Green Waste & Recycling
that serves the Golden Isles region of coastal
Georgia. For more information,
visit:
https://www.callamwaste.com.
SAFE HARBOR STATEMENT
This press release contains forward-looking statements that can be
identified by terminology such as "believes," "expects,"
"potential," "plans," "suggests," "may," "should," "could,"
"intends," or similar expressions. Many forward-looking statements
involve known and unknown risks, uncertainties and other factors
that may cause actual results to be materially different from any
future results or implied by such statements. These factors
include, but are not limited to, our ability to continue to enhance
our products and systems to address industry changes, our ability
to expand our customer base and retain existing customers, our
ability to effectively compete in our market segment, the lack of
public information on our company, our ability to raise sufficient
capital to fund our business, operations, our ability to continue
as a going concern, and a limited public market for our common
stock, among other risks. Many factors are difficult to predict
accurately and are generally beyond the company's control.
Forward-looking statements speak only as to the date they are made,
and we do not undertake to update forward-looking statements to
reflect circumstances or events that occur after the date the
forward-looking statements are made.
For information, please contact:
Lloyd Spencer, President
Deep Green Waste & Recycling, Inc.
Phone: (833) 304-7336 / (833) 30-GREEN
Investor@DeepGreenWaste.com
www.deepgreenwaste.com