MAGNEGAS CORPORATION (NASDAQ:MNGA) Files An 8-K Other EventsItem 8.01 Other Events.
On August 31, 2018, MagneGas Corporation (the “Company”) issued a press release announcing that the Company generated sales of $0.9 million for the month of July, as compared to $0.23 million in July 2017, representing a 292% increase. The sales growth was a result of MagneGas’ expansion into California, Texas and Louisiana through three acquisitions made earlier in 2018. The rapid sales growth in July 2018 was primarily driven by a strong rebound in sales in Florida, as well as sales growth at the Company’s northern California operations managed under the Trico Welding Supplies brand. Additionally, the Company’s operations under the Green Arc Supply brand in East Texas have recently acquired several new clients from national industrial gas competitors.
A copy of the press release that discusses this matter is filed as Exhibit 99.1 to, and incorporated by reference in, this report.
Item 9.01 Financial Statements and Exhibits.
MAGNEGAS CORP ExhibitEX-99.1 2 ex99-1.htm News Release Investor Contacts: Tirth Patel Edison Advisors T: 646-653-7035 [email protected] MagneGas Generates $0.9 Million in Sales for July Sales Increase of 292% Compared to Prior Year TAMPA,…To view the full exhibit click
About MAGNEGAS CORPORATION (NASDAQ:MNGA)
MagneGas Corporation is an alternative energy company. The Company creates and produces hydrogen-based alternative fuel through the gasification of carbon-rich liquids, including certain liquids and liquid wastes. The Company is also developing the use of fuel for co-combustion with hydrocarbon fuels to reduce emissions. The Company also markets, for sale or licensure, its plasma arc technology for the processing of liquid waste (the Plasma Arc Flow System). Its products include the fuel called MagneGas2 for the metal working industry, the equipment primarily known in the firefighting industry, known as MagneTote, and the machines that produce MagneGas2, known as Plasma Arc Flow refineries. In addition, the Company sells metal cutting fuels and ancillary products through its subsidiary, Equipment Sales and Service, Inc. (ESSI), a Florida corporation. It distributes products through several industrial gas companies in California, Michigan, Florida, Georgia, Indiana, and Pennsylvania.