Oakridge Global Energy Solutions this morning released its
third-quarter results, a three-month period in which the company significantly
advanced its new manufacturing facility in Florida.
Total company assets for the third quarter ended September
30, 2015, exceeded $76.0 million, while liabilities are reported at slightly
more than $2.75 million. In the next year and a half, Oakridge said it plans to
continue to strengthen its balance sheet, and ramp-up and install more than
2.6GW hours of production capacity of U.S. manufacturing of electrodes, cells
and batteries in its facilities located in the Brevard County, Florida, area.
“During the process of restructuring this business we had
the opportunity to purchase a major supply of equipment and have continued to
develop I/P in the battery space,” Oakridge executive chairman and CEO Steve
Barber stated in the news release. “We are very pleased with the third-quarter
results and expect the fourth-quarter results to be even better. Our business
plan is simple; we develop, manufacture and sell products. I know it’s a bit
old fashioned, but we are in the business of manufacturing.”
Also in the third quarter, Barber, through the majority
ownership of Oakridge by Precept Fund Management SPC (“Precept”), funded the
creation of a major full-scale manufacturing facility for Oakridge in Brevard
County, Florida, in Melbourne and Palm Bay, further rooting the company’s
position in the battery industry.
“Our third-quarter results reflect the significant
investment that Precept has made into this exciting business,” stated Barber.
“From development of products to purchase of manufacturing equipment, this
business is now fully operational and poised for growth.”
Oakridge’s third quarter 2015 earnings report may be viewed at
http://www.otcmarkets.com/financialReportViewer?symbol=OGES&id=147767
For more information, visit www.oakg.net
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Sign up for “The Mission Report” at www.MissionIR.com
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
