TUCSON, AZ - 
(NewMediaWire) - July 08, 2024 - Titan NRG, Inc. ("Titan NRG" OTC: TTNN), a leader in downstream energy and transportation through its wholly-owned subsidiaries, releases their annual report for the fiscal year ending March 31st, 2024.
“We’re excited to release our Annual Disclosure for our fiscal year-end. This past year, we really concentrated on efficiencies and cost savings where possible, and it really showed. We had a 70% increase in our Net Operating Income versus the prior year. That's a substantial increase,” said Alex Majalca Jr., Titan NRG’s President and CEO.
Titan NRG continues to work toward becoming fully audited. “There’s so much work happening in the background to prepare us for a full financial audit, and I’m incredibly proud of our team and the work they’ve produced thus far.” Alex Majalca Jr. went on to say, “I expect that we’ll resume the auditing process towards the middle of August 2024.”
“We’re seeing consolidation in our market space. I think there may be some opportunities for acquisitions here in the near future,” said Alex Majalca Jr.
Key Highlights from the Fiscal year 2024 ending March 31st, 2024 include:
- $1,060,739 in Net Operating Income compared to $623,979 a year ago
- $ 1,005,704 in Accounts Receivable
- $ 984,657 cash on hand
- $ 6,414,254 in capital assets(before depreciation and book value)
- $ 8,907,495 in total revenue
For further information, the full Annual Report for the fiscal year ending March 31st, 2024, can be accessed on the OTC Markets website at: https://www.otcmarkets.com/otcapi/company/financial-report/406820/content
Contact:
Alex R. Majalca Jr.
President/Chief Executive Officer
Titan NRG, Inc.
About Titan NRG Inc.:
Titan NRG is a holding company that operates as a downstream energy and transportation company through its wholly-owned subsidiaries. NRG Dynamics currently has 25+ transports operating in 8 states. APE Fuels offers retail and commercial propane serving southern AZ with 1500+ leased tanks and 2500+ customers. Vespene with wholesale purchasing and sales of LPG products. NRG Rail has a long-term lease on a new 18 car rail facility in Tucson with approved 1.2mm gallons of propane/butane storage.
Titan NRG focuses on vertical integration while expanding operations to cover product transfer and sales from the refinery to retail. This business model is a win for the company, customers, and shareholders. Additionally, this model can be replicated in other regions.
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NOTES ABOUT FORWARD-LOOKING STATEMENTS
Safe Harbor Statement This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with OTC Markets. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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