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Greenwave Technology Shores Up Balance Sheet With Debt-for-Equity Swap, Expects To Process Record Volumes Of Steel And Copper With 2024 Revenues Exceeding $40 Million

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8 months ago

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–News Direct–

By Meg Flippin, Benzinga

Greenwave Technology Solutions Inc. (NASDAQ: GWAV), the operator of 13 metal recycling facilities in Virginia, North Carolina and Ohio, is positioning itself for more growth by cleaning up its balance sheet. This includes a recent debt-for-equity exchange, as the Chairman and CEO of the company, Danny Meeks, exchanged all outstanding notes he held into equity demonstrating his confidence in the companys prospects and commitment to its shareholders.

As a follow on to this news, the company reported today that it is expecting to generate revenues exceeding $40 million during the year ended December 31, 2024. Growth is being driven by its Cleveland, OH, and Virginia Beach, VA, locations. The company expects its second American Pulverizer 60×85 shredder will result in the company being EBITDA positive and generating positive cashflows from operating activities.

Greenwave operates in a highly fragmented market it believes is ripe for consolidation. Paying down its debt puts the company in a better position to pursue bolt-on buys and expand its market share.

Under the terms of the debt-for-equity swap, Greenwave exchanged $17.22 million in debt for shares. Of the debt exchange, $10 million was exchanged for shares of Series D Preferred Stock and $7.22 million in debt was exchanged into common stock at $0.1167 per share.

"Over the past several weeks, we have significantly strengthened Greenwave's balance sheet and positioned the company for the next phase of its growth," says Greenwave CEO Danny Meeks. "I believe exchanging my debt into equity further aligns me with all shareholders and reflects the confidence I have in our business and growth strategy."

Demand Driving Growth

Greenwave is in growth mode at a time when demand for recycled steel is increasing as manufacturers look for greener alternatives. Using recycled steel instead of new material can cut CO2 emissions by about 75% as it uses about 70% less energy than manufacturing new materials. As it stands, two out of every three tons of steel produced come from recycling. In 1980, this figure was at just one out of every ten tons produced. It's also a big market. In 2019, the metal recycling industry was valued at $52.1 billion and is projected to reach $76.1 billion by 2025, growing at a CAGR of 7.8% over 2020-2025.

"With a significantly strengthened balance sheet, I believe Greenwave is well positioned for the next phase of growth," stated Greenwave CEO Danny Meeks in todays press release. "The investments we've made in Greenwave's infrastructure will facilitate significant growth in our copper and steel processing capacity, which we anticipate will create significant shareholder value."

In addition to running state-of-the-art metal recycling plants, Greenwave operates Scrap App Inc., a wholly owned subsidiary that created an AI-based quoting system for metal from construction and demolition projects, lists the nearest scrap yards with their real-time pricing and introduced a points-based rewards system. The unit generated over $200,000 in revenue within its first 130 days of operations. Sales have been growing at Greenwave, with the company posting $18.46 million in revenue and $1.23 million in cash flow from operating activities in the six months ended June 30, 2023. For the fourth quarter, revenue of $9 million was up 10% sequentially.

Shoring Up The Balance Sheet

Greenwave has been paying down debt and strengthening its balance sheet for some time now. In the first quarter alone, it received proceeds from warrant exercises of approximately $2.81 million, converted about $2.06 million of third-party debt to equity, closed an equity investment of $5.25 million, and exchanged $17.22 million of related-party debt into equity. As a result of its efforts, Greenwave reports that it increased its shareholders' equity by approximately $27 million. The company also secured waivers from its senior secured noteholders of the quarterly cash covenants until September 30, 2024, as well as monthly amortization payments until July 31, 2024. Extra cash flow from the debt restructuring is going to support growth.

As for the type of buys Greenwave will pursue with its newfound cash, Greenwave says it's focused on scrap yard deals that dont have a lot of dilution or impact on cash flow. It is also committed to not overpaying, aiming to utilize sellers notes as its preferred form of consideration.

Cash is king in the recycled metals market, and Greenwave is shoring up more of it to support its aggressive growth plans. With its financials in order, Greenwave could be well-positioned to meet the rising demand for recycled metal.

Featured photo by Evan Demicoli on Unsplash.

Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders.

This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice.

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View source version on newsdirect.com: https://newsdirect.com/news/greenwave-technology-shores-up-balance-sheet-with-debt-for-equity-swap-expects-to-process-record-volumes-of-steel-and-copper-with-2024-revenues-exceeding-40-million-152698355

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ONIX Exchange Simplifies Cryptocurrency Trading with Advanced Technology and Design

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1 hour ago

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December 29, 2024

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10 Best Indicators for Crypto Trading and Analysis in 2024

ONIX Exchange is transforming the cryptocurrency trading experience with cutting-edge technology and an open and innovative platform model. Since its launch in 2016, ONIX has not only provided users with a seamless and efficient trading ecosystem but also emerged as a key driver of growth in the digital currency industry. By supporting startups and small-to-medium enterprises in the digital asset space, ONIX has become a trusted partner in fostering diversity and health in the market.

At the core of ONIX Exchange’s philosophy is creating a platform experience that is both simple and powerful for users and token issuers. By integrating advanced blockchain technology and user-centric design, ONIX ensures that all users, from beginners to experienced investors, can easily navigate and execute trades. For beginners, the platform offers intuitive navigation, clear guidance, and educational resources to build confidence in trading. For advanced users, ONIX provides real-time market monitoring, tools for implementing complex strategies, and advanced analytics to unlock the full potential of the market.

One of ONIX’s standout innovations is its support for the issuance of incubator tokens. As one of the world’s leading digital currency exchanges, ONIX focuses on providing a secure, transparent, and efficient environment for token issuers. Incubator tokens, a unique form of digital asset, have become critical to the early development of new projects. Each token issuance undergoes rigorous financial audits and background checks to ensure the project’s legitimacy and sustainability. This meticulous vetting process not only upholds the platform’s reputation but also provides investors with trustworthy trading opportunities, laying a strong foundation for the healthy development of the digital currency market.

Compared to traditional exchanges, ONIX stands out in its commitment to supporting the needs of small-to-medium enterprises. By offering the lowest issuance costs in the industry, ONIX significantly lowers the entry barrier for resource-constrained companies. This initiative has attracted a diverse range of quality projects, injecting innovative momentum into the digital currency space. As an ONIX spokesperson stated, “We aim to lower issuance costs and create a fairer competitive environment, providing more opportunities for businesses worldwide. Our goal is not just to drive the success of specific projects but to lead the entire digital currency market toward a healthier, more orderly future.”

Technology and security are at the heart of ONIX Exchange’s operations. By leveraging optimized algorithms and robust infrastructure, ONIX ensures that trades are executed within seconds, enabling users to respond to market movements in real-time and avoid missed opportunities due to delays. Additionally, the platform employs advanced encryption technologies and blockchain’s inherent transparency to safeguard user data and funds. ONIX’s adherence to global compliance standards further solidifies its reputation as a secure and reliable trading environment.

ONIX Exchange’s impact extends beyond trading, as it strives to create a sustainable and diverse digital asset ecosystem. The platform supports a wide range of cryptocurrencies and trading pairs, helping users diversify their portfolios with access to popular digital assets, stablecoins, and emerging tokens. At the same time, ONIX empowers token issuers with comprehensive support, from technical assistance to marketing, fostering an environment where all participants can thrive and achieve mutual success.

Beyond its technical and operational achievements, ONIX Exchange also emphasizes education and community building. The platform offers a wealth of resources, including tutorials, webinars, and market insights, to help users navigate the complexities of cryptocurrency trading. By equipping users with knowledge, ONIX is cultivating a community of informed and confident traders who can make strategic investment decisions in an increasingly competitive market.

Looking ahead, ONIX Exchange is focused on integrating advanced analytics, artificial intelligence technologies, and deeper connections with decentralized finance (DeFi) platforms to further enhance the user experience. The exchange’s mission is clear: to simplify and democratize cryptocurrency trading while offering a secure and enjoyable experience for all users. By breaking industry barriers, ONIX is setting a new standard of excellence in the digital asset trading space.

ONIX Exchange’s commitment to openness and collaboration has also made it a key player in shaping the future of the digital currency industry. By partnering with more industry leaders, ONIX continues to push the boundaries of innovation and drive progress across the sector. With its clear vision and relentless pursuit of excellence, ONIX is paving the way for a more inclusive and accessible digital economy.

Contact name: Jason Scott 

Company name: Onix Exchange 

Website https: https://on-ix.tr/

Country: USA

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Press Release

ERB-Hub: Elevating Your Festive Season with Premium Smoking Essentials and Exclusive Digital Weed Art

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5 hours ago

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December 29, 2024

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With A Variety Of Strains And Flavors, ERB-Hub Ensures A Premium Vaping Experience Tailored To Individual Preferences.

New Jersey, US, 29th December 2024, ZEX PR WIRE, As the festive season approaches, ERB-Hub is redefining the art of celebration with an innovative blend of premium smoking essentials and exclusive digital weed art. This one-of-a-kind platform caters to modern consumers who appreciate quality, creativity, and a unique way to express their passion for cannabis culture.

ERB-Hub offers a curated selection of smoking essentials designed to enhance the cannabis experience. Every product is a testament to quality and sophistication. Whether you’re preparing for a quiet evening or hosting a gathering, these essentials set the perfect tone for relaxation and enjoyment.

Taking cannabis culture to new heights, ERB-Hub introduces its line of exclusive digital weed art. From potent vape cartridges to delectable edibles, their offerings cater to a range of preferences and experiences. Discover a world of flavor and relaxation with their high-quality cannabis goods.

The platform’s seamless online shopping experience ensures that customers can explore and acquire their favorite items from the comfort of their homes.

At ERB-Hub, sustainability is a key priority. The company partners with eco-conscious suppliers to ensure that its smoking accessories are both premium in quality and environmentally friendly. This commitment resonates with today’s conscious consumers who value ethical choices in their lifestyle purchases.

ERB-Hub’s collection of disposable vapes combines cutting-edge technology with sleek, user-friendly designs. Each vape is crafted for optimal performance, delivering smooth hits and rich flavors with every use. Perfect for on-the-go enthusiasts, these disposable vapes require no maintenance or refilling, offering a hassle-free experience.

“We’re not just elevating cannabis culture—we’re redefining how it’s experienced. At ERB-Hub, we believe celebration should be as dynamic and multifaceted as the individuals who enjoy it. From our thoughtfully curated products to our exclusive digital art, every detail reflects our dedication to innovation, creativity, and crafting moments that resonate long after the celebration ends,” said a spokesperson for ERB-Hub.

In celebration of the festive season, ERB-Hub is rolling out limited-time deals and launching new digital art collections. These offerings provide customers with the perfect opportunity to elevate their festivities with meaningful and stylish additions.

About ERB-Hub

ERB-Hub is a pioneering platform dedicated to premium smoking essentials and exclusive digital weed art. With a mission to blend tradition and innovation, ERB-Hub aims to redefine cannabis culture while promoting sustainability and creativity.

For additional information and business inquiries, please contact: https://erb-hub.com/, Info@erb-hub.com

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Press Release

TelMDCare Launches Confidential Online Erectile Dysfunction Treatment for Men’s Health

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5 hours ago

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December 29, 2024

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A new platform offering discreet, personalized care for erectile dysfunction—empowering men to access treatment without stigma or inconvenience

Lemont, IL, 29th December 2024, ZEX PR WIRE, TelMDCare is excited to announce the launch of its specialized online erectile dysfunction treatment, providing men with confidential, convenient, and personalized care for managing this sensitive health issue. With the stigma surrounding erectile dysfunction (ED) often preventing individuals from seeking help, TelMDCare’s new platform empowers men to access medical consultations and effective treatment options from the comfort and privacy of their homes. 

Erectile dysfunction affects millions of men worldwide, yet many struggle with the embarrassment or inconvenience of visiting a doctor in person. Traditional in-office consultations can be uncomfortable, leading many men to delay seeking help. Recognizing the need for a more accessible solution, TelMDCare now offers online doctors for erectile dysfunction, allowing men to speak with licensed healthcare providers via secure, confidential video consultations or text-based platforms.

This service eliminates the barriers of traditional in-person visits, offering discreet, timely access to care without the hassle or potential embarrassment. TelMDCare’s team of expert doctors provides tailored treatment plans, which may include medication, lifestyle advice, and other therapies to manage ED effectively. All treatments are designed to be easily integrated into a man’s routine, ensuring they can get the help they need on their terms.

“We understand that erectile dysfunction can be a sensitive issue for many men, and traditional doctor visits may not always be the most comfortable or convenient option,” said the spokesperson for TelMDCare. “With our online platform, we are offering a discreet, effective, and personalized approach to ED treatment that fits into men’s busy lives while maintaining the utmost confidentiality and privacy.”

Through erectile dysfunction treatment online, TelMDCare simplifies the process of getting diagnosed and starting treatment. Men can access consultations at their convenience, receive expert advice, and have prescriptions sent directly to their pharmacy or delivered to their door. By removing the stigma and discomfort associated with ED, TelMDCare provides a much-needed solution to help men regain confidence and improve their quality of life.

For more information, reach out to the TelMDCare team at the contact details provided below.

About TelMDCare

TelMDCare is a leading provider of online healthcare services, specializing in offering confidential and convenient medical consultations for a wide range of health conditions. Through secure, virtual platforms, TelMDCare connects patients with licensed doctors for personalized care, including diagnosis, treatment plans, and prescriptions. The platform is dedicated to improving access to healthcare for individuals who prefer discretion, convenience, and expert care from the comfort of their homes.

 

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