SILVERDALE, WA / ACCESSWIRE / April 15, 2016 / CGrowth Capital, Inc. (OTC Pink: CGRA) (the “Company”) is pleased to release a financial overview from its annual report filed with OTC Markets on April 14, 2016.
— Powder River Resources, the Company’s wholly owned subsidiary for its Wyoming oil and gas assets, had its 2015 revenues effected by the downturn in global oil prices during the fiscal year. As oil prices recover, and more importantly, as the Company begins putting to work its recent bond funding into the fields, oil and gas revenues are projected to substantially increase during fiscal year 2016. As the Company continues to work with engineers and field personnel to further develop its strategic plan, we will update shareholders accordingly with additional guidance.
— Our Chewelah, Washington facility is current in its payments and taxes and is currently undergoing renovations and upgrades at the site. The work is being done to support the three (3) Tier 3 cannabis producers/processors that are leasing space at the site. Rental income is beginning to kick in and the Company expects this to progressively increase as more production and square footage is brought online in 2016. We are pleased with the progress of our initial lessee, Wildfire Cannabis, and expect their operation to be online during the 2nd quarter as they are awaiting their final inspection from the state board.
— Funding is the decided difference in this years report looking forward. The additional of our wholly owned subsidiary CGrowth Capital Bond, Ltd. has marked a turning point for the Company and will be the key differentiator this coming year. To begin, our Going Concern statement has been revised, with the Company’s 2016 initiatives pre-funded. The bond is approximately 50% currently subscribed to (funding completed on those subscriptions). The Company and its advisors are working to complete the initial series and expect these commitments to take place during the 2nd quarter of 2016.
— The Company no longer needs to utilize equity funding to cover operating expenses. Existing notes are currently being restructured and/or paid off accordingly. Any further changes in equity will be done to increase shareholder value and strengthen the Company.
— The $1,649,374 cumulative loss reflected in the Annual Report for the 2015 financial statements as a Retained (Accumulated) Deficit will be utilized as a Net Operating Loss (NOL) carry-forward for any future tax losses which will immediately position the company to be immediately profitable from future operations. The NOL greatly benefits the future growth of the company because it allows for positioning tax issues to be used as a 2-year carry back or an up to 10-year carry forward Tax NOL. This should significantly reduce the company’s current and previous tax situations in the current and future tax years.
— As our bond company continues to have success, we will seek additional opportunities within our current asset base as well as reviewing additional opportunities in the commodity markets to diversify, increase asset value and growth, drive revenues, and push the performance of our stock.
About CGrowth Capital, Inc.:
CGrowth Capital, Inc. The Company continues to serve as a holding company for businesses and assets focused on all aspects of mining, minerals, exploration, and commercial real estate. The processing of metal ore mining, mineral and specialty rock extraction, as well as oil and gas production, are multi-billion dollar market opportunities which is capitalized on through processing, sales, contracting and licensing of assets. CGrowth Capital’s services and solutions are designed to assist land owners with monetizing undervalued assets by bringing commodities such as gold, silver, oil and gas, and other commodities to market. CGrowth Capital will focus on acquiring or land assets, while also providing partners and affiliates with management services, capital, contract management and logistical services necessary for the successful execution of operations.
For more information about CGrowth Capital, visit their website: http://www.CGrowthCapital.com
CGrowth Capital, Inc.
Statements about the Company’s future expectations and all other statements in this press release other than historical facts, are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management as well as assumptions made by and information currently available to the Company or its management. When used in this document, the words “anticipate,” “estimate,” “expect,” “intend,” “plans,” “projects,” and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements reflect the current view of the Company regarding future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended or projected. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, the impact of competitive services and pricing and general economic risks and uncertainties. The Company disclaims any obligation to update or revise any forward-looking statements.
SOURCE: CGrowth Capital, Inc.