JUPITER, FL--(Marketwired - Mar 11, 2014) - RenuEn Corporation (OTC Pink: RENUD) (OTC Pink: RENU) a Renewable Energy Development and EPC Company, announced today that the company has exceeded their first $1,000,000 in gross sales revenue since the December 20 th , 2013 corporate reorganization.
Jeff Nemes, CEO of RenuEn stated, "I am extremely pleased to announce that RenuEn has hit its first million dollars in sales revenue." Nemes added, "With our Energy Solutions dealer program in full swing, coupled with the efforts of our inside sales team, RenuEn is finally on sound financial footing. Our residential sales program has not only generated our first one million dollars in gross sales revenue, we also have begun paying down some of the debt left over from my predecessors. More importantly, our efforts have helped create over 80 new jobs in the State of Florida."
Mr. Nemes continued, "In just over ten weeks as CEO, without borrowing any money or seeking any investment capital, my entire team has managed to execute our business plan with precision. This is not only a testament to their dedication and drive, its proof that putting smart people together, operating in a team environment just breeds success." Nemes noted, "Since putting the wheels in motion, we have experienced solid growth in monthly revenue. My expectations are that we will continue to see this type of growth from month to month moving forward." Nemes stated, "With December sales at $232,396, January sales at $242,930, February sales at $378,821 and our one week sales record of $210,307 starting us off in the first week of March, we are clearly experiencing an upward sales trend that should continue to grow into 2014 pushing us toward meeting our previously announced targets and goals."
Mr. Nemes further stated, "I cannot put into words how proud I am of our dealers, installers, and our management and support teams. To be able to bring new life into this company in such a short period of time is nothing short of astounding. Even with the significant distance between our Jupiter, Orlando, Tampa, West Palm Beach and Jacksonville, Florida dealer branches, my installation team headed up by SVP Marc Cox has met the challenge of such rapid growth. In addition, EVP Lynn Nemes has had to expand the office staff by an additional two full time persons and is opening a second operations office in central Florida. The time and efforts from all involved have made the transition a relatively smooth and profitable process." Nemes added, "Our residential program has immediately become cash flow positive and self-sustaining without any need to create debt related transactions. This program is very scalable and we can now grow it without increasing our overhead costs at the same growth rate. The company can now begin maximizing our profit potential as we expand into additional markets with cutting edge new products and services."
Mr. Nemes continued, "With a steady stream of revenue coming in on a daily basis, I can now begin to implement the second phase of my business plan to grow our products and market to additional states. The paralleling dealer and in house sales programs will continue to put RenuEn on a solid path to increasing revenue and earnings allowing me to continue to build on this strong foundation."
Mr. Nemes concluded, "We are in the final stages of completing our 2013 year end reporting as well as our first quarter 2014 reports. Our shareholders can be assured that they will be released on time and will include full details of our recent recapitalization and reverse split. Upon release of our financials I will be scheduling our quarterly shareholder conference call."
A bout RenuEn Corporation
RenuEn Corporation ( www.RenuEn.com ) is a Renewable Energy Development, Engineering, Procurement and Construction (EPC) Company. The company focuses on Renewable Power projects and the development of solar, geothermal and other renewable energy strategies installing energy saving products and services for residential and commercial clients.
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Safe Harbor Statement
This news release contains statements that involve expectations, plans or intentions (such as those relating to future business or financial results) and other factors discussed from time to time in the Company's Securities and Exchange Commission filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as "may," "should," "expect," "anticipate," "believe," "estimate," "intend," "plan" and other similar expressions. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors not within the control of the company. The company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
Michael Irving
Paramount Advisors, LLC
407-878-5462
mike@parvise.com
