ATLANTA, GA , Oct. 10, 2017 (GLOBE NEWSWIRE) -- AlumiFuel Power Corporation (AFPW) ("AlumiFuel" or the "Company") today announced that preliminary revenue results for the third quarter of 2017 exceeded $450,000.
For the third quarter ended September 30, 2017, AlumiFuel topline revenue exceeded $450,000, representing a 6% sequential increase over the second quarter ended June 30, 2017 and a 49% increase over the first quarter ended March 31, 2017. During the third quarter of 2017, the Company added 24 new customers.
The information in this release is preliminary and based upon the information available to the Company as of the date of this release. The information above is forward-looking information and subject to revision or adjustment. However, the Company does not expect material revisions to these preliminary results.
About AlumiFuel Power Corporation
AlumiFuel, operating through its wholly owned subsidiaries, is transforming into a diversified holding company under new leadership and is expected to be renamed Phoenix Equity Holdings Corporation. The Company is exploring several revenue producing acquisition opportunities as it works to build a robust cash flow stream. AlumiFuel currently operates three divisions in the multi-billion dollar temporary staffing industry and holds patented technology for hydrogen generation through its wholly owned subsidiary, NovoFuel.
Safe Harbor for Forward-looking Statements:
This news release may contain forward-looking statements that are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, they are based on management's current beliefs and assumptions as to future events. However, since the company's operations and business prospects are always subject to risk and uncertainties, the forward-looking events and circumstances discussed in this news release might not occur, and actual results could differ materially from those described, anticipated or implied. For a more complete discussion of such risks and uncertainties, please refer to the company's filings with the Securities and Exchange Commission.
Source: Uptick Newswire