Victory Oilfield Tech, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2019
November 16, 2020 at 05:43 pm IST
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Victory Oilfield Tech, Inc. announced earnings results for the third quarter ended September 30, 2019. For the third quarter, the company announced sales was USD 509,160 compared to USD 399,000 a year ago. Operating loss was USD 221,801 compared to USD 583,975 a year ago. Net loss was USD 258,075 compared to USD 609,795 a year ago. Basic loss per share was USD 0.01 compared to USD 0.02 a year ago. For the nine months, sales was USD 1.638 million compared to USD 399,000 a year ago. Operating loss was USD 516,497 compared to USD 12.633 million a year ago. Net loss was USD 608,172 compared to USD 12.695 million a year ago. Basic loss per share was USD 0.02 compared to USD 0.67 a year ago.
Victory Clean Energy, Inc., formerly Victory Oilfield Tech, Inc., is a green hydrogen energy company. It is engaged in developing and implementing clean, sustainable low-cost energy solutions with applications across various industries, including transportation, power generation, and industrial processes. Its TrueGreen Hydrogen production solutions provide clean, reliable, and cost-effective energy sources to a diverse range of clients. TrueGreen Hydrogen focuses on decarbonization in heavy transportation and industrial hydrogen markets. Its hydrogen production technology uses completely sustainable and renewable biomass to produce green hydrogen. Its Net Zero Energy Group specializes in providing sustainable and renewable energy solutions, offering both hydrogen energy solutions derived from renewable sources and completely sustainable prime power generated from biomass. Its Biomass Development Group, LLC, specializes in the cultivation, processing, and distribution of biomass.