Perpetual Industries Reports
/ Nov 21, 2022 --
InvestorsHub NewsWire -- Perpetual Industries Inc.
("Perpetual" or the "Company"), a diversified research and development company
and innovator of energy-efficient technologies, reported
its financial and operating results for the
quarter ended September 30, 2022.
Third Quarter 2022
Gross revenues increased $1,158,578 in the nine months ending Sept.
30, 2022, an increase of 31% over the same period in 2021.
Gross profits increased $449,702 in the nine months ending Sept.
30, 2022, an increase of 15% over the same period in 2021.
Net income increased $324,040 in the three months ending Sept 30,
2022, an increase of 57% over the same period in 2021.
Cash reported on a consolidated basis of $1,816,744, an increase of
73% over year ending December 2021.
Total current assets recorded of $12,120,837, an increase of 5%
over year ending December 2021.
Brent Bedford, Chief Executive Officer of Perpetual said. "Our team
demonstrated strong performance in our third quarter despite
challenging economic factors. At the core, our underpinned
operating business continues to deliver solid sales performance,
providing a stable foundation for shareholder value through
"We are very pleased with our third quarter. The net income
increase reflects healthy fundamental growth as we continue to
build our balance sheet and the overall financial strength in the
company", said Trip Thomas, Perpetual's Chief Financial
For more information, please refer to the Management's Discussion
& Analysis and the unaudited condensed consolidated interim
financial statements of the Company for the three and nine months
ended September 30, 2022 and 2021. These documents will be
available on the Company's website at www.perpetualindustries.com
and under the Company's OTC Markets profile at
About Perpetual Industries
Incorporated in Nevada and based in
Auburn, Indiana, Perpetual Industries Inc.OTCMARKETS:
an innovator of energy-efficient technologies,
underpinned by an established operating business of over twenty
years. Our main business segments include: digital asset mining,
blockchain application development, NFT's, and software for the
collector community. Our mission is to "perpetuate industry" by
bringing value-added technologies to market. Our expertise and
knowledge of energy-efficient technology is rooted in the Company's
proprietary technology known as the XYO Mechanical Balancing
Technology, which dynamically eliminates vibration in rotating
equipment to create energy-efficient, environmentally responsible
products for a variety of industries, including renewable energy,
blockchain mining, artificial intelligence, graphic rendering, and
cloud computing. For more information
about Perpetual and its divisions, please visit www.perpetualindustries.com.
Certain statements in this press release constitute
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended; Section 21E of the
Securities Exchange Act of 1934; and the Private Securities
Litigation Reform Act of 1995; as well as "forward-looking
information" as such term is defined in applicable U.S. and
Canadian securities legislation. We may use words such as "may,"
"would," "could," "should," "potential," "will," "seek,"
"intend," "plan," "anticipate," "believe," "estimate," "expect" and
variations of these words and similar expressions to identify a
forward-looking statement. Such statements reflect the Company's
current views and intentions with respect to future events and
current information available to the Company and are subject to
certain risks, uncertainties and assumptions, including, without
limitation: the conditions to closing of the transaction being
satisfied, including obtaining all necessary approvals for the
transaction. Should any factor affect the Company in an unexpected
manner, or should assumptions underlying the forward-looking
information or statements prove incorrect, the actual results or
events may differ materially from the results or events predicted.
Any such forward-looking information or statement is expressly
qualified in its entirety by this cautionary statement. Moreover,
the Company does not assume responsibility for the accuracy or
completeness of such forward-looking information or statements.
The forward-looking information and/or statements included in this
press release are made as of the date of this press release, and
the Company undertakes no obligation to publicly update or revise
any forward-looking information, other than as required by
For media, press inquiries and
further information, please contact:
Perpetual Industries Inc.