- SGTM completes two-year audit in preparation for upcoming SEC Form-10 filing
- Company targets fully reporting status, NASDAQ tier listing
- Subsidiary to supply mulch products, services to Midwest, Western New York 7-Eleven stores
Sustainable Green Team (OTC: SGTM), a leading provider of environmentally beneficial solutions for tree and storm waste disposal, has completed a two-year (2018 and 2019) audit in preparation for its upcoming SEC Form-10 filing (https://ibn.fm/uTDvF). The filing is part of SGTM’s strategic plan to become fully reporting and apply for uplisting.
“I’m truly blessed and proud of my team not only to complete our first two-year audit but to witness our catapult achievement,” said SGTM CEO and director Tony Raynor. “It’s thanks to my team and partners we have been able to achieve so much and progress with continue growth. Now with our audit complete, we are able to take our next major step on taking SGTM fully reporting and work our way to ultimately achieving NASDAQ tier listing.
“We are currently in discussion with multiple SEC legal counsel firms to see whom would fit best with our team and assist us on not only achieving every step along the way to be listed on the NASDAQ but to assure that we stay complaint with the SEC to provide transparency to our shareholders,” Raynor continued. “We plan on uploading our September 2020 quarter early November and updating our shareholders on our FORM-10 process as we progress.”
SGTM reported that the completed audit totaled $2,084,725 in revenue and $103,343 gross profit for FY 2019, respectively, and $508,591 in revenue and ($9,609) in gross profit for FY 2018. The company also recorded $18,637,665 in revenue and $5,081,772 gross profit for its June 2020 six-month uploaded quarter, which represents a 794% increase in revenue and 4,817% increase in gross profit compared to 2019’s operations.
In other good news for the company, its wholly owned subsidiary Mulch Manufacturing Inc. received an order to supply mulch products and services to 7-Eleven stores located throughout the Midwest and Western New York (https://ibn.fm/b52yJ). The contract, which is the most recent in an impressive list of contracts Mulch has nailed down in the last several weeks, starts in 2021.
“Thanks to our VP of sales Paul Stolly, we continue to secure major international chain accounts to start 2021 strong, commencing with 7-Eleven Inc.’s Midwest U.S. and western New York locations,” noted Raynor. “This allows us to build brand integrity and supply for future expansion as we progress.”
Sustainable Green Team, through its subsidiaries, provides tree services, debris hauling and removal, biomass recycling, mulch manufacturing, packaging and sales. The company was established with the objective of providing a solution for the treatment and handling of tree debris that has historically been disposed of in landfills, creating an environmental burden and pressure on disposal sites around the nation. SGTM’s solutions are founded in sustainability, based on vertically integrated operations that begin with collecting tree debris through its tree services division and collection sites and then, through its processing division, recycling and using that tree debris as a feedstock that is manufactured into a variety of organic, attractive, next-generation mulch products that are packaged and sold to landscapers, installers and garden centers.
The Sustainable Green Team plans to expand its operations through a combination of organic growth and strategic acquisitions that are both accretive to earnings and positioned for rapid growth from the resulting synergistic opportunities identified. SGTM’s customers include governmental, residential and commercial clients.
To learn more about Sustainable Green Team Ltd., view the company’s investor presentation at https://ibn.fm/reoNg.
NOTE TO INVESTORS: The latest news and updates relating to SGTM are available in the company’s newsroom at http://ibn.fm/SGTM
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