Titan NRG, Inc. (OTC Pink: TTNN) released its annual report for the fiscal year ending March 31, 2022, highlighting significant progress post-merger. Total revenue for the fourth quarter reached $1,930,940 with gross profits at $583,501. The company is optimistic about its growth trajectory, indicating that the first quarter of 2022 is outperforming the previous year. CEO Alex Majalca Jr. noted successful consolidation efforts and anticipates continued organic growth due to market conditions. However, increased legal and transfer fees associated with the merger were acknowledged.
Titan NRG, operating as a downstream energy and transportation holding company, has announced significant developments regarding its share structure. A court has entered a motion for default judgment against legacy restricted shareholders, leading to the cancellation of approximately 12.75 million shares. CEO Alex Majalca Jr. expressed optimism about finalizing this process, which aims to improve the company's share structure. Additionally, Titan NRG is progressing with an acquisition in equipment leasing, although closure may not occur until 2023. The company seeks to find a balance to expedite the deal.
Titan NRG, Inc. (OTC Pink: TTNN) has successfully completed its reverse merger with AgriSolar Solutions, Inc., effective February 4, 2022. The merger will enhance Titan NRG's position in the downstream energy and transportation sectors. The transaction involved a stock-for-stock exchange, primarily favoring preferred shares. CEO Alex Majalca Jr. highlighted plans for further growth, including a LOI to acquire an equipment leasing firm, potentially increasing assets by $5 million and significantly reducing lease costs.