SOURCE: Planet Resource Recovery, Inc.
HOUSTON, TX--(Marketwire - Sep 20, 2012) - Planet Resource Recovery, Inc. (PINKSHEETS: PRRY) announced today that the Company has published its financial statements for the 12 months ended December 31, 2011 and the six month period ended June 30, 2012. The unaudited financial statements are available at www.OTCMarkets.com.
Sales Revenues for the six months ended June 30, 2012 were $208,679, a 96% increase, when compared to Sales Revenue of $106,407 for the twelve month period ended December 31, 2011. Operational Expenses for the six months ended June 30, 2012 were $193,289 versus $1,257,191 for the fiscal year ended December 31, 2011, a reduction of approximately 70% on an annualized basis. Net Income for the six months through June 30, 2012 was $24,564 versus a net loss of $1,174,935 for twelve months of fiscal 2011.
Enrique Salinas, the Company's CEO, said, "We are very pleased with the progress we have made this year in positioning our PetroLuxus family of products for continued revenue growth, while at the same time, substantially improving expense control."
About Planet Resource Recovery, Inc.
Planet Resource Recovery, Inc. is the developer, manufacturer and marketer of the PetroLuxus™ Technology Platform which currently include the PetroLuxus™ family of products for the Oil & Gas industry and AquaLuxus™ for the water industry. For more information visit: www.planetresource.net.
Safe Harbor Statement
Under The Private Securities Litigation Reform Act of 1995: The statements in this presentation that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. Additional risks and uncertainties are set forth in the Company's Annual Report for the year ended December 31, 2009, the Company's Quarterly Report for the First quarter ended March 31, 2010. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.