ME2C Environmental Reports Second Quarter 2023 Financial Results
ME2C Environmental Reports Second Quarter 2023 Financial Results
Continued Strong Liquidity, Improved Licensing Revenues Through First Half of Year
持续强劲的流动性,改善了上半年的许可收入
Corsicana, Texas--(Newsfile Corp. - August 17, 2023) - Midwest Energy Emissions Corp. (TSXV: MEEC) (OTCQB: MEEC) ("ME2C Environmental "or the "Company"), a leading environmental technology firm, has reported financial results for the second quarter ended June 30, 2023.
科西卡纳,得克萨斯州-(Newsfile Corp.-2023年8月17日)-中西部能源排放公司(TSXV:MEEC)(OTCQB:MEEC)(“ME2.C环境“或”公司“),一家领先的环境技术公司,已经公布了截至2023年6月30日的第二季度财务业绩。
Financial Highlights
财务亮点
Cash of $1.9 million on hand at June 30, 2023, and working capital of $1.7 million
Q2 total revenues of $4.1 million
Q2 Adjusted EBITDA positive $251,000
截至2023年6月30日,手头现金为190万美元,营运资金为170万美元
第二季度总收入为410万美元
第二季度调整后EBITDA为正251,000美元
Management Commentary
管理评论
Richard MacPherson, Chief Executive Officer of ME2C Environmental, commented, "Our solid base of supply customers, including several significant utilities, has maintained a stable revenue base in what is historically our company's lowest revenue quarter due to lesser coal demands and plant shutdowns scheduled annually each Spring. The increase in licensing revenues of our core technology for the six months ended June 30, 2023, have offset the lower product supply revenues that much of our industry felt this Spring. Technology licensing revenue increased by 165% or $386,000 for the six months ended June 30, 2023, compared to the prior year period."
理查德·麦克弗森,ME首席执行官2.C环境公司的首席执行官评论说:“我们坚实的供应客户基础,包括几家重要的公用事业公司,在我们公司历史上收入最低的季度保持了稳定的收入基础,这是由于煤炭需求减少和每年春季工厂关闭的计划。截至2023年6月30日的六个月,我们核心技术的许可收入增加,抵消了我们行业中许多人今年春季感受到的产品供应收入下降的影响。与去年同期相比,截至2023年6月30日的六个月,技术许可收入增长了165%,即386,000美元。”
"Moving into the last half of the year, we expect to add additional technology licensees and potential supply customers to our strong customer base due to our continued IP efforts leading to trial this fall," continued MacPherson. "The coal-fired power market remains stable in the U.S., and we expect that our product supply revenues will continue to increase during the last half of this year."
麦克弗森继续说:“进入下半年,我们预计将增加更多的技术许可人和潜在的供应客户,以巩固我们强大的客户基础,这是因为我们将继续努力使知识产权在今年秋季试用。”“美国燃煤发电市场保持稳定,我们预计今年下半年我们的产品供应收入将继续增长。”
"During this second quarter of 2023, we have focused on expanding growth opportunities in new markets, emerging technologies under development, and growing our outreach across the Canadian market in support of our Company's common shares now trading on the TSX Venture Exchange. We are pleased in our current position midway into this year and look forward to providing updates to the market addressing these growth opportunities in the near term," concluded MacPherson.
麦克弗森总结道:“在2023年第二季度,我们专注于在新市场、正在开发的新兴技术中扩大增长机会,并扩大我们在加拿大市场的业务范围,以支持我们公司目前在多伦多证券交易所创业板交易的普通股。我们对今年年中的现状感到满意,并期待着在短期内提供市场的最新情况,以应对这些增长机会。”
About ME2C Environmental
关于ME2C环境
ME2C Environmental is a leading environmental technologies company developing and delivering patented and proprietary solutions to the global power industry. ME2C's leading-edge mercury emissions technologies and services have been shown to achieve emissions removal at a significantly lower cost and with less operational impact than currently used methods, while maintaining and/or increasing power plant output and preserving the marketability of byproducts for beneficial use. ME2C Environmental is a trade name of Midwest Energy Emissions Corp. For more information, please visit .
我2.C环境公司是一家领先的环境技术公司,为全球电力行业开发和提供专利和专有解决方案。我2.C.已证明,与目前使用的方法相比,尖端的汞排放技术和服务能够以显著更低的成本和更小的操作影响实现排放消除,同时保持和/或增加发电厂的产量,并保持副产品的适销性以用于有益用途。我2.C环境是中西部能源排放公司的商标名称。有关更多信息,请访问。
Use of Non-GAAP Financial Measures
非公认会计准则财务计量的使用
To provide investors with additional information regarding our financial results, this press release includes references to Adjusted EBITDA, a Non-GAAP financial measure. We view Adjusted EBITDA as an operating performance measure and, as such, we believe that the GAAP financial measure most directly comparable to it is net income (loss). We define Adjusted EBITDA as net income adjusted for interest and financing fees, income taxes, depreciation, amortization, stock-based compensation, and other non-cash income and expenses. We believe that Adjusted EBITDA provides us an important measure of operating performance. Our use of Adjusted EBITDA has limitations as an analytical tool, and this measure should not be considered in isolation or as a substitute for an analysis of our results as reported under GAAP, as the excluded items may have significant effects on our operating results and financial condition. Additionally, our measure of Adjusted EBITDA may differ from other companies' measure of Adjusted EBITDA. When evaluating our performance, Adjusted EBITDA should be considered with other financial performance measures, including various cash flow metrics, net income, and other GAAP results. In the future, we may disclose different non-GAAP financial measures in order to help our investors and others more meaningfully evaluate and compare our future results of operations to our previously reported results of operations.
为了向投资者提供有关我们财务业绩的更多信息,本新闻稿包括对调整后EBITDA的引用,这是一种非GAAP财务衡量标准。我们将经调整的EBITDA视为经营业绩指标,因此,我们认为与之最直接可比的GAAP财务指标是净收益(亏损)。我们将调整后的EBITDA定义为经利息和融资费、所得税、折旧、摊销、基于股票的薪酬和其他非现金收入和费用调整后的净收入。我们相信,调整后的EBITDA为我们提供了衡量经营业绩的重要指标。我们使用调整后EBITDA作为一种分析工具有局限性,不应孤立地考虑这一衡量标准,也不应将其作为根据GAAP报告的对我们业绩的分析的替代,因为排除的项目可能会对我们的经营业绩和财务状况产生重大影响。此外,我们对调整后EBITDA的衡量可能不同于其他公司对调整后EBITDA的衡量。在评估我们的业绩时,调整后的EBITDA应与其他财务业绩指标一起考虑,包括各种现金流指标、净收入和其他GAAP结果。未来,我们可能会披露不同的非GAAP财务指标,以帮助我们的投资者和其他人更有意义地评估我们未来的运营结果,并将其与我们之前报告的运营结果进行比较。
Safe Harbor Statement
安全港声明
With the exception of historical information contained in this press release, content herein may contain "forward-looking statements" that are made pursuant to the Safe Harbor Provisions of the U.S. Private Securities Litigation Reform Act of 1995 or forward-looking information under applicable Canadian securities laws (collectively, "forward-looking statements"). Forward-looking statements are generally identified by using words such as "anticipate," "believe," "plan," "expect," "intend," "will," and similar expressions, but these words are not the exclusive means of identifying forward-looking statements. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Investors are cautioned that forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the statements made. Matters that may cause actual results to differ materially from those in the forward-looking statements include, among other factors, the ability to satisfy the conditions to listing on the TSX-V; the loss of major customers; dependence on availability and retention of key suppliers; changes, or lack of changes, in environmental regulations; risks related to advancements in technologies; lack of diversification in the Company's business; risks related to intellectual property, including the ability to protect intellectual property and the success of the ongoing patent litigation; competition risks; changes in demand for coal as a fuel source for electricity production; ability to retain key personnel; absence of a liquid public market for our common stock; share price volatility; and, the potential that dividends may never be declared. In addition, this release contains time-sensitive information that reflects management's best analysis only as of the date of this release. ME2C Environmental does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release. Further information concerning issues that could materially affect financial performance or other forward-looking statements contained in this release can be found in ME2C Environmental's periodic filings with the Securities and Exchange Commission or Canadian securities regulators.
除本新闻稿中包含的历史信息外,本新闻稿中的内容可能包含根据1995年美国私人证券诉讼改革法的安全港条款作出的“前瞻性陈述”或根据适用的加拿大证券法作出的前瞻性信息(统称为“前瞻性陈述”)。前瞻性陈述通常通过使用诸如“预期”、“相信”、“计划”、“预期”、“打算”、“将”和类似的表达来识别,但这些词语并不是识别前瞻性陈述的唯一手段。这些陈述是基于管理层目前的预期,可能会受到不确定性和环境变化的影响。请投资者注意,前瞻性陈述涉及风险和不确定因素,可能导致实际结果与所作陈述大相径庭。可能导致实际结果与前瞻性陈述中的表述大不相同的事项包括,除其他因素外,满足在多伦多证券交易所上市的条件的能力;大客户的流失;对关键供应商可用性和留存的依赖;环境法规的变化或缺乏变化;与技术进步有关的风险;公司业务缺乏多样化;与知识产权有关的风险,包括保护知识产权的能力和正在进行的专利诉讼的胜诉;竞争风险;作为发电燃料的煤炭需求的变化;留住关键人员的能力;我们的普通股缺乏流动性的公开市场;股价波动;以及可能永远不会宣布股息。此外,本新闻稿包含时间敏感信息,这些信息仅反映了截至本新闻稿发布之日管理层的最佳分析。我2.C环境公司不承担任何义务公开更新或修改任何前瞻性陈述,以反映本新闻稿发布之日后发生的未来事件、信息或情况。有关本新闻稿中包含的可能对财务业绩或其他前瞻性陈述产生重大影响的问题的更多信息,请参见ME2.C环境公司向美国证券交易委员会或加拿大证券监管机构提交的定期文件。
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
多伦多证券交易所风险交易所及其监管服务提供商(该术语在多伦多证券交易所的政策中定义)均不对本新闻稿的充分性或准确性承担责任。
ME2C Environmental Contact:
Stacey Hyatt
Corporate Communications
ME2C Environmental
Main: 614-505-6115 x-1001
Direct: 404-226-4217
shyatt@me2cenvironmental.com
我2.C环境联系人:
史黛西·凯悦
企业通信
我2.C环境
电话:614-505-6115 x-1001
直拨:404-226-4217
邮箱:shhyatt@me2cEnvironmental mental.com
Investor Relations Contact:
Jessica Butt
IR Representative
Adelaide Capital
Direct: 416-844-6202
jessica@adcap.ca
投资者关系联系人:
杰西卡·巴特
IR代表
阿德莱德资本
直拨:416-844-6202
邮箱:jessica@adcap.ca
To view the source version of this press release, please visit
要查看本新闻稿的源版本,请访问