Market Overview

Attis Industries Reports Improved Balance Sheet and Continues Focus for Building Shareholder Value with Increased Stockholders Equity

Share:


Filed its 10Q for the Quarter Ended June 30, 2018; Expects Increased Revenue for the Remainder of 2018

MILTON, GA, Aug. 21, 2018 (GLOBE NEWSWIRE) -- Attis Industries Inc. (NASDAQ: ATIS) (the "Company" or "Attis"), a diversified innovation and technology holding company, today announced the filing of its 10Q for the quarter ended June 30, 2018.

Key highlights include:

  • $0.24 EPS for the three months ended June 30, 2018, as compared to ($0.94) for the three months ended June 30, 2017
  • $0.50 EPS for the six months ended June 30, 2018, as compared to ($1.76) for the six months ended June 30, 2017
  • As of August 17, 2018, there were 21,625,328 shares outstanding of the registrant's common stock
  • $44.7 million in total assets
  • $13.7 million shareholders equity, as compared to negative shareholder equity of ($16.8 million) for the period ended December 31, 2017

Attis Industries expects to hold a shareholder update conference call by mid-September and will provide the exact date and call information within the next two weeks.

Jeff Cosman, Chief Executive Officerof Attis Industries, commented, "The company has proven its strategy to restructure its balance and build a more strategic business plan in as quickly as three months from selling its capital intensive and over-levered solid waste unit. We have a few steps to go - our Innovations Division will shock the plastics and fuels market in 2019 as the Healthcare unit builds on the momentum of new labs being completed and coming on line in the third quarter of this year. The company expects increased revenue and positive earnings from this point on in 2018. The excitement is building within the company as to how big the company can be and how influential the company can be as a company focused on strategic components of the GDP (energy, healthcare, infrastructure/utilities).  The last steps of the restructure are eliminating the remaining legacy debt and completing exciting opportunities that demonstrate my vision for Attis Industries while maximizing shareholder value in 2018 and beyond."  

Attis Industries, Inc. 
Attis Industries Inc. (NASDAQ: ATIS) is a holding company defined by our commitment to servicing our customers with unwavering respect, fairness and care. We are focused on finding and implementing solutions for the resource needs and challenges of our customers with a fundamental objective to seek rewarding solutions through technology and innovation. Our healthcare business centers on creating community-based synergies through collaborations and software solutions. Our innovation business strives to create value from recovered resources. For more information, visit: www.attisind.com

Forward-Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "should," "would" or similar words. You should consider these statements carefully because they discuss our plans, targets, strategies, prospects and expectations concerning our business, operating results, financial condition and other similar matters. These statements are subject to certain risks, uncertainties, and assumptions, including, but not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company's products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, clinical studies and future product commercialization; and, the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies; the ability of the Company to continue to meet the listing requirements of NASDAQ; the ability of the Company to execute on a business plan that permits the technologies and innovations businesses to provide sufficient growth, revenue, liquidity and cash flows for sustaining the Company's go-forward business, and the risks identified and discussed under the caption "Risk Factors" in the Attis Annual Report on Form 10-K for the fiscal year ended December 31, 2017, filed with the Securities and Exchange Commission (the "SEC") on April 16, 2018 and the other documents Attis files with the SEC from time to time. There will be events in the future, however, that Attis is not able to predict accurately or control. Attis's actual results may differ materially from the expectations that Attis describes in its forward-looking statements. Factors or events that could cause Attis's actual results to materially differ may emerge from time to time, and it is not possible for Attis to accurately predict all of them. Any forward-looking statement made by Attis in this press release speaks only as of the date on which Attis makes it. Attis undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.


Media and Investors Contact: 
Hayden IR
(917) 658-7878
hart@haydenir.com

Primary Logo

View Comments and Join the Discussion!