Engineering company focusing on delivering sustainable and innovative solutions for energy and water, Energy and Water Development Corp (OTCMKTS:EAWD), on April 19, 2022, announced operational and financial results for the year ending December 31, 2021.
Trading Data
On Wednesday, EAWD stock gained 2.50% to $0.1949 with more than 28k shares, compared to its average volume of 46K shares. The stock moved within a range of $0.1949 – 0.2125 after opening trade at $0.2025.
Energy and Water Development Corp. Reports Full Year 2021 Financial Results with $550,000 in Revenue
While the company’s revenue increased to $550,000 from $0, its gross profit increased to $200,000 from $0. The firm’s cash balance was $589,668 while its Gross margin was 36%. During the year, the company had its first revenue with water and energy system deployment in Mexico. Furthermore, it moved ahead with expansion in Europe through the pioneering project in Grunheide aiming at sustainable development. Energy and Water Development also established a German subsidiary indicating a commitment to local markets. The firm got global trademark protection for its logo and name and received a patent for the energy-free water generation technology.
In the interim, the company uplisted to OTCQB and established a stock equity agreement of $5 million to support growth. The company also engaged ClearThink for leading the investor relations program
Ralph Hofmeier, Chief Executive Officer of Energy and Water Development Corp said that 2021 was a successful year for the firm. Hofmeier added that it is looking at the growth phase of business, especially with the first project in Germany, just twenty miles east of Berlin’s city center. The CEO further stated that the intensifying global water crisis is leading to communities searching for alternatives to groundwater for industrial and residential water needs.
Key Quote
Ralph Hofmeier, Chief Executive Officer of Energy and Water Development Corp., commented, “2021 was a very successful year for our Company and sets us up to accelerate the number of active projects and revenue in 2022. We are ready to enter the next growth phase of our business, as we focus on revenue-producing innovative water and energy generation system projects starts with our first project in Germany in the city of Grünheide (Mark), just 20 miles east of Berlin’s city center.”
Technical Data
EAWD stock is trading below the 10-Day and 50-Day Moving averages of $0.20 and $0.21 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.25.
