Deep Green Waste & Recycling (DGWR) Reports First Quarter 2021 Financial Results

WOODINVILLE, Wash., May 24, 2021 /PRNewswire/ -- Deep Green Waste & Recycling, Inc. (OTCQB: DGWR), a sustainable waste and recycle management services company for commercial customers, announced its financial results for the first quarter ended March 31, 2021.

Financial Results

• Deep Green Waste & Recycling posted revenues of $24,837 for the three-month period ending March 31, 2021 compared to $0 for the same period a year ago.
• Gross Profit for the for the three month period ending March 31, 2021 increased to $17,816 for the quarter compared to $0 for the same period a year ago. The gross profit percentage for this three-month period was 71.8%.
• Operating Expenses were $149,525 for the three month period ending March 31, 2021 as compared to $94,051 for the same period a year ago, an increase of $59.0%.
• Loss from Operations increased 40.0% to $131,709 for the three month period ending March 31, 2021, compared to $94,051 for the same period last year.
• Net loss for the three-month period ending March 31, 2021, was ($328,138) compared to a net loss of ($131,556) for the same period a year ago, an increase of 149.4%. The increased net loss was primarily due to an increased derivative liability expense of $157,936 for the three-month period ending March 31 compared with $12,703 for the same period a year ago, an increase of 1,143.3%.

"We are very pleased with our first quarter 2021 results and with the Amwaste asset acquisition," said Lloyd Spencer, President and CEO of Deep Green Waste & Recycling.  "We anticipate continued growth by acquiring profitable waste and remediation services companies in the Eastern United States, and growing Amwaste's business by expanding its customer base and acquiring equipment assets."

About Deep Green Waste & Recycling, Inc.

Deep Green Waste & Recycling, Inc. (OTCQB: DGWR) is reestablishing itself as an innovative waste and recycling company which provides sustainable waste and recycle management services, and helps commercial customers realize cost-savings using streamlined processes that help reduce, re-purpose and recycle waste.  In February 2021, the Company completed an asset acquisition with Amwaste, Inc. and began operating a commercial waste and debris disposal services business through a wholly owned subsidiary that is doing business as Amwaste in Brunswick, Georgia.  For more information, visit: https://DeepGreenWaste.com.

About Amwaste

Amwaste is a wholly owned subsidiary of Deep Green Waste & Recycling that serves the Golden Isles region of coastal Georgia.  For more information, visit: https://www.callamwaste.com.  

SAFE HARBOR STATEMENT

This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results or implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

For information, please contact:

Lloyd Spencer, President
Deep Green Waste & Recycling, Inc.
Phone: (833) 304-7336 / (833) 30-GREEN
[email protected]
www.deepgreenwaste.com

SOURCE Deep Green Waste & Recycling, Inc.

Related Links

https://DeepGreenWaste.com