Perpetual Industries Inc. is a researcher and developer of energy-efficient technologies and auctioneers of classic collector vehicles. The company announced its annual financial report for year ending on December31, 2021.
Energy developer announces 2021 financial results
Firstly, the company informed gross revenues of $8,445,394 in 2021, compared to $0 in 2020. It also announced gross profits of $3,323,399 in 2021, compared to $0 in 2020.
Secondly, the operating income was of $4,793 in 2021, compared to an operating loss of ($838,810) in 2020. On the other hand, the total assets were of $11,514,967, an increase of 1,198%, in 2021; compared to $887,082 in year ending 2020.
Besides, the net loss was $127,015 and diluted value per share of $0.00 in 2021; compared to a net loss of $902,374 and diluted loss per share of $0.02 in 2020; it presented a decrease of 86%.
Finally, the operating expenses included $183,741 of noncash stock-based compensation.
We are very pleased to have delivered strong financial performance in 2021. The increase in revenue that we saw in 2021 over last fiscal year 2020 is monumental for the Company.
Trip Thomas, Chief Financial Officer of Perpetual Industries.
Strategic acquisitions
The company completed two strategic acquisitions that form a foundation for expanding the Company’s blockchain division.
Firstly, Worldwide Auctioneers, is a U.S.-based boutique auction company; that specializes in the sale and acquisition of classic vintage motorcars at auctions around the globe.
Secondly, AutoGrafic Software, is a SaaS social application; that utilizes cutting-edge technology to host a myriad of aspects for automotive promotion and preservation.
Technologies incubator 2021 corporate highlights
Also, Perpetual Industries moved into a new 22,000-square-foot corporate facility in Auburn, Indiana; giving the organization more space to meet the growing demands of its R&D projects; as well as room to execute a large-scale bitcoin mining center expansion for its bitcoin mining division.
Finally, the organization purchased over $400,000 in bitcoin mining machines for the cryptocurrency mining division. Its current liabilities reduced by 44% to $2,026,143 in Q4 from $3,610,460 in Q3. Besides, it installed the first Green Energy Mining (GEM) mobile bitcoin mining pod.
Together, our leadership team and staff have made great strides to accelerate this unprecedented growth in 2021, the most significant being the acquisition of Worldwide Auctioneers as a wholly owned subsidiary.
Brent Bedford, Perpetual’s CEO.
In 2022, we plan to expand our financial and operational growth by enhancing the Company’s ‘engine’ through a large-scale expansion of the cryptocurrency mining division. This operational focus will allow us to support innovation across all of our divisions, including AutoGrafic Software and our Green Energy Mining System (GEM).
Brent Bedford.
Perpetual Industries invested in capital equipment, which helps scale its highest-priority division while reducing overall current liabilities. By removing the noncash expense of stock-based compensation recorded in 2021. The net operating income is substantially higher, around $190,000.
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About Perpetual Industries Inc.
Firstly, Perpetual Industries is based in Auburn, Indiana. The Company is an incubator for the development of new and innovative energy-efficient technologies.
Secondly, its mission is to “perpetuate industry” by bringing value-added technologies to market.
Thirdly, the company is proprietary of the technology known as the XYO Mechanical Balancing Technology; designed specifically to dynamically eliminate vibration in rotating equipment to create energy-efficient, environmentally responsible products.
Also, Perpetual Industries is expanding its expertise and knowledge of energy-efficient technology; developing low-cost, green energy-powered solutions for a variety of industries.
The list its clients include renewable energy, blockchain mining, artificial intelligence, graphic rendering, internet of things (IoT) and cloud computing.
For more information about Perpetual Industries, click here.
