Mon, May 12, 10:09 AM (35 days ago)
**Waste Energy Corp. (WAST) - Annual Report Summary** **Company Overview:** Waste Energy Corp. (WAST) is an early-stage company in the waste-to-energy (WTE) industry, focusing on converting plastic and tire waste into usable energy sources. The company employs a specialized thermal conversion process to break down waste materials into synthetic diesel fuel, carbon black, and syngas. **Financial Performance (2024):** - **Revenue:** $0 (no revenue from continued operations). - **Operating Expenses:** $1,194,309, primarily consisting of consulting fees, service costs, professional fees, and stock-based compensation. - **Net Loss:** $2,880,147, reflecting a decrease from $5,650,103 in 2023. - **Earnings per Share (EPS):** -$0.02 (basic and diluted). **Strategic Overview:** - **Technology:** Utilizes a thermal conversion process to convert plastic and tire waste into valuable byproducts. - **Revenue Streams:** Plans to generate revenue through sales of clean diesel fuel, carbon black, environmental credit monetization, consulting services, and strategic partnerships. - **Market Opportunity:** Addresses the global plastic and tire waste problem, aiming to provide a commercially viable and sustainable solution. **Future Outlook:** - **Growth Strategy:** Focuses on launching a pilot project with an output of up to 30 tons per day (TPD) of waste conversion. Plans to expand operations by securing additional feedstock and increasing processing capacity. - **Long-term Vision:** Aims to scale operations domestically and internationally, leveraging intellectual property, and establishing itself as a leader in the WTE industry. **Risk Factors:** - **Regulatory Challenges:** Potential delays or restrictions due to regulatory and permitting issues. - **Market Adoption:** Competition from alternative waste management and clean energy technologies. - **Feedstock Availability:** Ensuring a consistent supply of plastic waste feedstock. - **Financial Resources:** Securing sufficient funding for facility construction, equipment maintenance, and operational expenses. - **Economic Conditions:** Broader economic factors that could impact investor confidence and financing opportunities. **Financial Condition:** - **Working Capital:** Negative working capital of $3,170,689 as of December 31, 2024. - **Cash Requirements:** Expects to require $900,000 to fund operating expenditures for the next twelve months. - **Funding:** Plans to derive cash through the sale of equity or debt securities or by obtaining a credit facility. **Market Position Changes:** - **Stock Trading:** Listed on the OTCQB under the symbol "WAST." - **Shareholders:** 138,036,826 shares of common stock outstanding as of May 9, 2025. **Management and Governance:** - **Executive Officers:** Scott Gallagher (President, CEO & Chairman), Braden Glasbergen (CFO, Secretary, and Treasurer). - **Directors:** Edmund C. Moy, Scott McBride. **Conclusion:** Waste Energy Corp. is in the early stages of developing its waste-to-energy business, facing significant financial and operational challenges. The company's success will depend on its ability to secure funding, scale operations, and navigate regulatory and market risks.