Verde Bio Holdings, Inc. Discusses Second Quarter Financial Results
Frisco, Texas, Dec. 17, 2021 (GLOBE NEWSWIRE) — via NewMediaWire — Verde Bio Holdings, Inc. (OTC:VBHI), a growing oil, gas and alternative energy Company, said it is very optimistic about its present position and its future with its announcement this week of a change in business strategy and the acquisition of Biodiesel Production facilities which more than triple the Company’s assets.
Regarding its recent 10Q for the second quarter, Mineral and Royalty income totaled $143,413, more than double the amount reported in the first quarter 10-Q. It is, however, far less than the Company was anticipating.
“This 10-Q covers a three-month period only–August through October 2021. As we have discussed previously, we begin receiving revenue after a transfer process with the operators that is not in our control. We have experienced unprecedented delays in the transfer of some of our largest acquisitions which caused that revenue to not be reflected in our filing,” said Scott Cox, Founder and CEO. “But we are pleased that we are now in pay status on all properties with the exception of the Belmont County interests we just acquired.”
“There have been drastic increases in commodity pricing from when we originally bought our properties. As we begin to receive full revenue from all our properties, especially natural gas assets in Marcellus/Utica and the Haynesville Shale sector, we believe our investors will be pleased by the results,” Mr. Cox said. Verde Bio Holdings’ CEO said the Company continues to examine many possible future acquisitions.
Verde this week announced a change in business strategy and the acquisition of two biodiesel plants. This announcement signifies a change in which the Company will begin to also look at investments in wind and solar, and other alternatives/renewables as well as seek to add to its biodiesel portfolio. “With the current administration in office, we believe these sectors will have heavy growth and will require significant investment, with high returns to the Company. We believe as an energy company we would be remiss to ignore the possibilities,” Mr. Cox said.
About Verde Bio Holdings, Inc. Verde Bio Holdings, Inc. (OTC: VBHI) is a growing U.S. Energy Company based in Frisco, Texas, engaged in the acquisition and management of Mineral and Royalty interests in lower risk, onshore oil and gas properties within the major oil and gas plays in the U.S. The Company’s dual-focused growth strategy relies primarily on leveraging management’s expertise to grow through the strategic acquisition of revenue producing royalty interest and strategic and opportunistic non-operated working interests.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:
Statements in this press release that are not strictly historical are “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These statements involve a high degree of risk and uncertainty, are predictions only and actual events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include the uncertainty regarding viability and market acceptance of the Company’s products and services, the ability to complete software development plans in a timely manner, changes in relationships with third parties, product mix sold by the Company and other factors described in the Company’s most recent periodic filings with the Securities and Exchange Commission, including its 2019 Annual Report on Form 10-K and quarterly reports on Form 10-Q.
Contact:
Paul Knopick E & E Communications
pknopick@eandecommunications.com
940.262.3584
