COLDSPRING, TX, September 20, 2013 -- BenchMark Energy Corporation (OTC Pink: BMRK) began providing earnings guidance for its third and fourth quarter earnings based upon contractual agreements for glycerin purchase and delivery. The Company, which just recently achieved Current Information status through the OTC Markets’ disclosure platform, provided earnings per share guidance for a loss of $0.01 to $0.02 per share for the third quarter, and a profit of $0.01 per share for the fourth quarter 2013, with 23,247,121 Common Stock shares outstanding per its second quarter disclosure on OTC Markets’ website. Revenue guidance for the Company is between $250,000 to $300,000 for the third quarter, and between $1,000,000 and $1,100,000 for the fourth quarter 2013.
“BenchMark [Energy Corporation’s] revenue has recovered significantly from the second quarter, reflecting management’s efforts to build a solid operational foundation. We secured transactions for 160,000 gallons in the third quarter and 1,500,000 gallons for the fourth quarter, equating to 4.5% of the expected domestic U.S. glycerin supply of 130 million gallons,” said BenchMark Energy Corporation’s CEO Mark Bateman. The Company’s historical transaction volumes are:
2012 FY – 480,000 gallons (annual)
2013 Q1 – 36,000 gallons
2013 Q2 – 84,000 gallons
Forecasted transaction volume based upon signed and scheduled contractual deliveries are:
2013 Q3 – 160,000 gallons
2013 Q4 – 1,500,000 gallons
Including the previously announced Chinese contract, the Company has contractual commitments to sell at least 504,000 gallons monthly starting in the fourth quarter 2013 and continuing throughout 2014. This means that the Company would account for 6 million gallons of the domestic U.S. glycerin supply, or approximately five percent (5%) of the supply using expected 2013 domestic output.
The Company continues to work through its 90-day plan, with goals still remaining in Phase 1, including providing a fact sheet and investor presentation, engaging a PCAOB auditor, and concluding “work out” activities. Phase 2 activities have already begun as the Company focuses on operations to increase our share of the domestic glycerin marketplace.
ABOUT BENCHMARK ENERGY CORPORATION
“BenchMark Energy Corporation (OTC Pink:BMRK) is the source for glycerin and related refined components, providing value through our industry knowledge.” – Our mission statement starts the story, but the rest is available at http://benchmarkenergy.com.
SAFE HARBOR STATEMENT
The statements in this release that relate to the Company’s expectations with regard to the future impact on the Company’s results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company’s plans or expectations.
SOURCE: Benchmark Energy Corporation