Exhibit 99.1

 

SMG INDIUM RESOURCES REPORTS THIRD QUARTER 2017 FINANCIAL RESULTS

 

 

 

HOUSTON, Texas November 13, 2017 (GLOBE NEWSWIRE) -- SMG Indium Resources Ltd., ("SMGI” or the “Company"), symbol OTCQB:SMGI, an oilfield services company headquartered in Houston, Texas today announced its unaudited financial results for the third quarter (“Q3”) ended September 30, 2017.

 

Summary:

 

·Total Revenues for the quarter ended September 30, 2017 were $620,084, up 50%, from the year ago period;

 

·Total Revenues for the nine months ended September 30, 2017 were $1,802,486 up 62%, from the year ago period;

 

·Gross Margin increased significantly to 62% of Revenues in Q3 2017, from 44% in Q3 2016;

 

·EBITDAX, a non-GAAP measure, was $245,093 for Q3 2017 and $406,664 for the nine months ended September 30, 2017 (see reconciliation table below);

 

·Net loss for Q3 2017 was $412,626, including non-recurring acquisition costs of $378,807 and one-time non-cash stock charges of $211,321 during the period;

 

·The Company generated a gain of $177,502 for the Q3 2017 period, when adding back non-recurring merger/acquisition costs of $378,807 and non-recurring, non-cash, stock compensation charges of $211,321 during the period; and

 

·Liquidity improved resulting from a $1 million line of credit established by the Company with Crestmark Bank, in May 2017, which had an outstanding balance of $264,168 at September 30, 2017.

 

Platform Acquisition

 

As stated in the Company's Quarterly Report on Form 10-Q filed on November 13, 2017, SMGI concluded its review of a strategic alternative, since its exit from the indium business, with a new platform acquisition in the oilfield services market. On September 19, 2017, the Company acquired 100% of the issued and outstanding membership interests of MG Cleaners an oilfield services company operated by Stephen Christian since 2010.

 

MG has four primary revenue streams: product sales - proprietary branded products including detergents, surfactants and degreasers; equipment and parts; service crews performing on-site repair and drilling rig wash; and rentals. Its customers are major oilfield drilling rig contractors including Nabors Drilling, Patterson–UTI and Helmrich & Payne, established oil and gas operators, as well as other service companies.

 


The following information was filed by Smg Industries Inc. (SMGI) on Monday, November 13, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Smg Industries Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Smg Industries Inc..

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account