Tanke Inc. Announces Record 3rd Quarter 2013 Results
Record Breaking Asset Base increase of 238% and Revenues Increase of 886%
ST. LOUIS, MO, Nov 26, 2013 (Marketwired via COMTEX) — Tanke, Incorporated (OTC: TNKE) (the “Company”), a diversified holding company focused on emerging technologies and ‘Cleantech,’ is pleased to announce the release of its third quarter financials for the period ending September 30th 2013. The results show a record achievement in both the company’s asset base and revenues increasing by 238% and 886% respectively.
The Company reported third quarter assets of $3,551,513 for the period from June 30, 2013 to September 30th, 2013, an increased of $2,501,372 which represents a 238% increase as compared with the previous fiscal quarter.
The Company further reported record revenues of $1,097,640.for the period from June 30, 2013-September 30th 2013 recognized and recorded. This represents a revenue increase of $986,345 (886%) compared to prior quarter. Also, operating expenses decreased during the same period by $12,079 from $257,963 during the second quarter to $245,884 in the third quarter. Expenses were for operations, selling and general administration expenses and mainly as expenses for business development and marketing.
These record increases in both the company’s asset base as well as revenues is attributable to the company’s successful follow through of its corporate objectives of asset acquisition, proprietary technology deployment, brand promotion and investment in companies that have a global reach.
“We are extraordinarily pleased with the latest quarterly results” Tanke CEO Xiaoying Zhang stated. “We have absolute confidence that the full year will also prove to be excellent. We firmly believe that Tanke is poised to become a major player and leader in the growing environmental and emerging technologies market.”
About Tanke Incorporated
Tanke is a diversified holding company with the mission to develop, manage and finance emerging companies in high growth industries. Tanke is focused in the development of environmental technologies and “Cleantech” for a wide range of markets such as commercial, industrial and municipal applications. Tanke believes that globalization and the emergence of Asia stresses natural resources, water, energy and food, and environmental technologies will be at the forefront of the new paradigm shift in usage of resources. Through its subsidiaries and affiliates in the world and with its deep experience in China — the fastest growing emerging market in the world, Tanke seeks to grow through acquisitions, organic growth in the USA and also in the emerging markets. Our holdings consist of: Environmental & Water technologies, eWaste and reverse logistics technologies, and The Triple R Water recycling technology under the Re:Water(TM) Brand.
Additional information is available on the Company’s website: www.tankeinc.com or contact Investor Relations at: IR@tankeinc.com
Safe Harbor Statement: Certain statements and information included in this release may constitute “forward-looking statements” as defined in the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied in such statements. Additional discussion of factors that could cause actual results to differ materially from management’s projections, estimates and expectations is contained in the Company’s SEC filings. The Company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by federal securities laws.