Tag: Shareholders

ABCO Energy Announces First Quarter 2019 Financial Results

Posted: May 21 2019

ABCO Energy, Inc. (OTCQB: ABCE) Tucson, Arizona (May 21, 2019) announced financial results from the quarter ended March 31, 2019 and provided a corporate update. ABCO is a producer of sustainable infrastructure products for solar, energy-efficient lighting and HVAC products.

First Quarter 2018 Financial Highlights

  • Sales revenues continued to strengthen with an increase of $131,715 (25%) from $522,295 in the First Quarter 2018 to $654,010 for the First Quarter 2019. Gross profit grew $49,870 (26%) from $193,917 in the First Quarter 2018 to $243,787 in the First Quarter 2019.
  • Operating expenses were increased $101,325 (63%) from $159,936 in the First Quarter 2018 to $261,051 in the First Quarter 2019.
  • Loss from operations for the First Quarter 2019 was $(17,275) compared to $(33,981) for the First Quarter 2018.
  • Net loss after interest and derivative expenses for the First Quarter 2019 was $(518,835) versus a net loss of $(6,827) in the First Quarter 2018. The first quarter loss was charged with $(501,560) consisting of $78,914 interest on derivatives, $177,934 loss on derivatives and $244,712 extinguishment of debt on derivatives. Derivatives are accounting charges for future possible stock dilution for convertible debt.

Capital Resources and Outlook ABCO Energy’s primary source of capital for the First Quarter of 2019 was cash flow from operations and borrowing through financial institutions. Our S1 offering documents were approved by the SEC on May 7, 2019 and this will assist us raising capital from non-convertible stock sales to bolster our acquisition programs in the coming months.

“With improved margins and acquisitions, we expect a return to profitability by year end 2019, “said Charles O’Dowd, President. “We expect that our sales will continue to grow as energy-efficiency, solar, HVAC and LED Lighting industry activities increase.”

About ABCO Energy
ABCO Energy, Inc. is a commercial and residential installer of Photovoltaic (PV) solar systems, LED lighting solutions and HVAC products and services. ABCO Energy, Inc. is a Nevada corporation, which maintains offices located in Tucson and Phoenix, Arizona. ABCO is a fully reporting public company trading under the symbol ABCE. Since its inception in 2008, ABCO Energy has taken great pride in delivering quality solar installations and has a reputation for outstanding customer service. These qualities have allowed us to grow the business primarily through referrals, many of those based on actual customer reviews.

Safe Harbor Statement Note: Certain statements in this news release may contain “forward-looking” information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-5 under the Securities Act of 1934 and are subject to the safe harbor created by those rules. All statements, other than the statements of fact, included in this press release may include forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements. ABCO undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances or to reflect unanticipated events or developments.

ABCO Energy Phone 520-777-0511 or email “info@abcoenergy.com”

ABCO Energy Announces Effective S1 Filing

Posted: May 8 2019

ABCO Energy, Inc. (OTCQB: “ABCE”) Tucson, Arizona (May 8,2019) announced that on May 7, 2019, the United States Securities Exchange Commission (SEC) declared effective it Registration Statement on Form S-1 (No. 333-231047) (Registration Statement). On April 26, 2019, the Registration Statement was filed with the SEC, it was amended by Pre-Effective Amendment No. 1 filed on May 3 ,2019 and declared effective on May 7, 2019. The Registration Statement was filed to register for resale from time to time shares of the Company’s common stock by the selling shareholder named therein pursuant to an Equity Line entered into with the selling shareholder.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such or jurisdiction.

About ABCO Energy
ABCO Energy, Inc. is a commercial and residential installer of Photovoltaic (PV) solar systems, LED lighting solutions and HVAC products and services. ABCO Energy, Inc. is a Nevada corporation, which maintains offices located in Tucson and Phoenix, Arizona. ABCO is a fully reporting public company trading under the symbol ABCE. Since its inception in 2008, ABCO Energy has taken great pride in delivering quality solar installations and has a reputation for outstanding customer service. These qualities have allowed us to grow the business primarily through referrals, many of those based on actual customer reviews.

Safe Harbor Statement Note: Certain statements in this news release may contain “forward-looking” information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-5 under the Securities Act of 1934 and are subject to the safe harbor created by those rules. All statements, other than the statements of fact, included in this press release may include forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements. ABCO undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances or to reflect unanticipated events or developments.

ABCO Energy Phone 520-777-0511 or email “info@abcoenergy.com”

ABCO Energy Announces Results of Operations for 2018

Posted: April 14 2019

ABCO Energy, Inc. (OTCQB: “ABCE”) Tucson, Arizona (April 18, 2019) announced Tuesday April 16, 2019 it had filed the annual report on Form 10-K for the year ended 12/31/18 with the SEC and posted the report on the recently achieved OTCQB website. The results of operations shows that sales increased to $2,867,442 in 2018, an increase of $1,420,386, or 98%, doubling 2017 sales of $1,447,056.

Cost of sales increased by $888,746, or 77% to $2,040,339 in 2018 from $1,151,593 in 2017 due primarily to the increase in sales. However, the important part of the report shows that the Company achieved a gross margin of 29% as a percentage of total sales in 2018, up from 20% in 2017, primarily due to better management of costs and the focus on commercial projects in 2018.

“We are very proud of our production and sales staff for the accomplishments of 2018,” says Charles O’Dowd, President. “We also give many accolades for our administration and IR staff, who brought us back to the OTCQB from many months on the “pinks”. We have also seen a 455% increase in our stock price over the past three months”.

General and administrative expenses increased by $182,403 to $1,016,860 (35% of sale) in 2018 from $834,457 (57% of sales) in 2017, a decrease of 22%. This increase in expense is due primarily to a 98% increase in sales revenue. However, the administration staff had better control over operations, we trained and hired additional sales force, and had better control over the public company expenses in 2018.

About ABCO Energy
ABCO Energy, Inc. is a commercial and residential installer of Photovoltaic (PV) solar systems, LED lighting solutions and HVAC products and services. ABCO Energy, Inc. is a Nevada corporation, which maintains offices located in Tucson and Phoenix, Arizona. ABCO is a fully reporting public company trading under the symbol ABCE. Since its inception in 2008, ABCO Energy has taken great pride in delivering quality solar installations and has a reputation for outstanding customer service. These qualities have allowed us to grow the business primarily through referrals, many of those based on actual customer reviews.

Safe Harbor Statement Note: Certain statements in this news release may contain “forward-looking” information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-5 under the Securities Act of 1934 and are subject to the safe harbor created by those rules. All statements, other than the statements of fact, included in this press release may include forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements. ABCO undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances or to reflect unanticipated events or developments.

ABCO Energy Phone 520-777-0511 or email “info@abcoenergy.com”

ABCO Energy (Subsidiary ABCO Solar) Hires New Investor Relations Manager

Posted: January 21 2019

ABCO Energy, Inc (OTC PINK: ABCED) As the leading provider of distributed solar energy in Arizona, ABCO Energy has announced Lindsay Lucas as Investor Relations Manager. She will act as a liaison between ABCO and its stockholders.

Lindsay graduated in 2005 with a BS in Journalism from Northern Arizona University. She joins ABCO Energy with over 7 years’ experience in marketing and advertising. Her focus will be on social media, news releases, email communications, and market research to stay on trend with competitors, and to better inform ABCO’s shareholders.

Head Shot 2

“The scope of our investor relations has grown significantly over the last 5 years. Lindsay brings years of experience providing a high level of service and responsiveness to investors,” said Charlie O’Dowd, President of ABCO.

Prior to joining ABCO, Lindsay gained technology and business experience at both national and local ad agencies. She has held senior management roles in marketing, communications, and digital and print publishing, including Senior Copywriter at Arizona Mail Order, and Executive Director of Northern Arizona Building Association.

“I look forward to substantially expanding ABCO’s visibility in major money centers. My focus is to help the company grow meaningfully,” said Lindsay. “I am delighted to join the team.”

ABOUT ABCO ENERGY
ABCO Energy is in the Photo Voltaic (PV) solar systems industry, the LED and energy efficient lighting business and is a dealer for a solar powered air conditioning system. The Company plans to build out a network of operations in major cities in the USA to establish a national base of service operations centers. This combination of services, solar PV, solar HVAC systems and LED lighting provides the Company with a solid base in the growth markets of renewable energy applications. We currently operate in Tucson and Phoenix, Arizona and provided installation and services to other cities from our Tucson offices. The Company plan is to expand to more locations in the Western States in the next year as funding becomes available.
Safe Harbor Statement
Note: Certain statements in this news release may contain “forward-looking” information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-5 under the Securities Act of 1934 and are subject to the safe harbor created by those rules. All statements, other than the statements of fact, included in this press release may include forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements. ABCO undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances or to reflect unanticipated events or developments.

CONTACT INFORMATION: Charles O’Dowd Email: info@abcoenergy.com