BlueFire Equipment Corp (BLFR) Demonstrates Progress After Executing Its Restructuring Strategy

Rhea-AI Summary

BlueFire Equipment Corp (BLFR) reported significant financial progress following its restructuring strategy and recent acquisitions. After acquiring West Texas Dirt Movers and Reed Exploration in July 2024, the company achieved an 855.6% revenue increase from $84,962 to $811,912 during Q3 2024.

The revenue growth was attributed to restarting production within Reed Exploration on land acquired through the Ram Cap agreement, and new projects secured by WTDM's President Alexandra Felix. The company expects continued revenue from these projects into Q4 2024, as it focuses on growing revenues, profits, and cash flows.

Positive

• Revenue increased 855.6% to $811,912 in Q3 2024 from $84,962
• Successfully integrated two strategic acquisitions: West Texas Dirt Movers and Reed Exploration
• Secured new revenue-generating projects with continuation into Q4 2024
• Successfully restarted production on acquired land assets

Negative

• None.

SAN ANTONIO, TX / ACCESSWIRE / December 11, 2024 / BlueFire Equipment Corp. (OTC Pink:BLFR) ("BLFR" or the "Company"), a specialist in emerging industry acquisitions, announces financial and operational progress on its restructuring and growth plans. As announced on July 11, 2024, BLFR acquired West Texas Dirt Movers, Inc. ("WTDM"), and Reed Exploration, LLC. As a result of the acquisitions, hiring experienced personnel into key leadership positions, and aggressively pursuing income-producing opportunities, the Company saw notable growth from second quarter to third quarter, 2024.

BLFR reported an increase in revenues of 855.6% from $84,962 to $811,912 during the period ended September 30, 2024. This increase was the direct result of restarting production within Reed Exploration of the land acquired via the Ram Cap,LLC Contribution Agreement dated June 30, 2024. Additionally, Alexandra Felix, President of WTDM, led the attainment of new projects providing immediate revenue lift in the third quarter, 2024, and much of the work and related revenue will continue into the fourth quarter, 2024. The Company's efforts are intensely focused on growing revenues, profits, and cash flows, and third quarter, 2024 results illustrate progress on those efforts.

BLFR's CEO & Chairman, Dr. David René Ramirez, noted, "I am pleased with the progress the team, in particular new leadership, is making against our restructuring and growth plans. We remain extremely optimistic about the changes we are undertaking operationally as well as initiatives to accelerate our business growth and goal attainment."

About BlueFire Equipment Corp. (BLFR)

BLFR is a holding company engaged in acquisitions and operations of companies that illustrate potential growth. Presently, BLFR is focused on acquiring additional emerging prospects in the Oil and Gas industry. BLFR is operating through its 100% owned subsidiaries West Texas Dirt Movers, Inc. an environmental construction company; and Reed Exploration, LLC, a producing oil and gas company. The growth initiatives are supported by funding and structuring facilitated through Ram Cap's contributions and assigned assets.

SAFE HARBOR ACT: Forward-looking statements are included within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding the Company's expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations or listing on an exchange - including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will" and other similar expressions - are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond the Company's control and may cause actual results, performance or achievements to differ materially from anticipated results, performance or achievements. The Company is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements, whether as a result of new information, future events or otherwise. There are no assurances that the Company will complete additional acquisitions or will be successful in being approved for a NASDAQ listing. No information in this press release should be construed in any manner whatsoever as an indication of the future performance of the Company's revenues, financial condition or stock price.

Company Contact:
Nickolas S. Tabraue
Chief Compliance & Investor Relations Officer
Nick.T@BLFR.energy
Phone (786) 375-7281

SOURCE: Bluefire Equipment Corp.

View the original press release on accesswire.com

FAQ

What was BLFR's revenue growth percentage in Q3 2024?

BlueFire Equipment Corp (BLFR) reported an 855.6% revenue growth in Q3 2024, increasing from $84,962 to $811,912.

Which companies did BLFR acquire in July 2024?

BLFR acquired West Texas Dirt Movers, Inc. (WTDM) and Reed Exploration, in July 2024.

What drove BLFR's revenue increase in Q3 2024?

The revenue increase was driven by restarting production within Reed Exploration on newly acquired land and new projects secured by West Texas Dirt Movers.

Will BLFR's Q3 2024 project revenue continue into Q4?

Yes, according to the company, much of the work and related revenue from Q3 2024 projects will continue into Q4 2024.