Tanke Inc. Announces Record 4th Quarter 2013 Results
ST. LOUIS, MO--(Marketwired - Mar 10, 2014) - Tanke, Incorporated (OTC Pink: TNKE) (the "Company"), a diversified holding company focused on emerging technologies and 'Cleantech,' is pleased to announce the release of its fourth quarter financials for the period ending December 30th 2013. The results show a record achievement in both the company's asset base and revenues increasing by 4,578% and 2,841% from same quarter of 2012, respectively.
The Company reported fourth quarter assets of $3,896,527 for the period from September 30 th , 2013 to December 31 st , 2013, an increase of $345,014 which represents a 10% increase as compared with the previous fiscal quarter, and an increase of $3,813,240 which presents a 4?578% increase as compared to 2012 fourth quarter.
The Company further reported record revenues of $2,203,673 for the period from September 30 th , 2013 to December 31 st 2013. This represents a revenue increase of $1,106,033 (101%) compared to prior quarter, and $2,128,744 (2?841%) compared to the prior year.
Also, operating expenses increased during the same period by $1,668,507 from $245,884 during the third quarter to $1,914,391 in the fourth quarter. Expenses were for operations, selling and general administration expenses and mainly as expenses for business development and marketing.
These record increases in both the company's asset base as well as revenues is attributable to the company's successful follow through of its corporate objectives of asset acquisition, proprietary technology deployment, brand promotion and investment in companies that have a global reach.
"We are extraordinarily pleased with the latest quarterly results," Tanke CEO Xiaoying Zhang stated. "We have absolute confidence that the full year will also prove to be excellent. We firmly believe that Tanke is poised to become a major player and leader in the growing environmental and emerging technologies market."
About Tanke Incorporated
Tanke is a diversified holding company with the mission to develop, manage and finance emerging companies in high growth industries. Tanke is focused in the development of environmental technologies and "Cleantech" for a wide range of markets such as commercial, industrial and municipal applications . Tanke believes that globalization and the emergence of Asia stresses natural resources, water, energy and food, and environmental technologies will be at the forefront of the new paradigm shift in usage of resources. Through its subsidiaries and affiliates in the world and with its deep experience in China -- the fastest growing emerging market in the world, Tanke seeks to grow through acquisitions, organic growth in the USA and also in the emerging markets. Our holdings consist of: Environmental & Water technologies, eWaste and reverse logistics technologies, and The Triple R Water recycling technology under the Re:Water™ Brand.
Additional information is available on the Company's website: www.tankeinc.com or contact Investor Relations at: IR@tankeinc.com
Safe Harbor Statement: Certain statements and information included in this release may constitute "forward-looking statements" as defined in the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied in such statements. Additional discussion of factors that could cause actual results to differ materially from management's projections, estimates and expectations is contained in the Company's SEC filings. The Company assumes no obligation to update any forward-looking statements as a result of new information , future events or developments, except as required by federal securities laws.
