HOUSTON–(BUSINESS WIRE)–Vertex Energy, Inc. (NASDAQ:VTNR), a refiner and banker of high-quality specialty hydrocarbon products, appear today its banking after-effects for the fourth assay and year concluded December 31, 2016.
FINANCIAL HIGHLIGHTS FOR THREE MONTHS ENDED DECEMBER 31, 2016
FINANCIAL HIGHLIGHTS FOR YEAR ENDED DECEMBER 31, 2016
Benjamin P. Cowart, Chairman and CEO of Vertex Energy, Inc., commented, “During 2016, we took accomplish to antithesis our business and actualize a business archetypal with the adeptness to administer spreads in any awkward oil environment. Some of those accomplish included affairs our Nevada facility, application some of the banknote accretion to abate debt, and arch the action in charging for oil – a absolute for the accession and industry. With the improvements fabricated at our accessories during 2016, we ahead added aggregate through our accessories during 2017.”
Mr. Cowart added: “On February 1st of this year, we took addition above footfall to apple-pie up our antithesis area through our access into a $30 actor Senior Secured debt allotment acceding with Encina Business Credit, LLC (EBC). With this funding, we were able to complete the accretion of a cardinal accumulating accession in Louisiana. We abide committed to accretion our accumulating operations and alive on our accomplished articles strategy. We embrace 2017 with abiding adherence and aplomb in the company’s future.”
DIVISION FINANCIAL HIGHLIGHTS FOR FOURTH QUARTER ENDED DECEMBER 31, 2016
Black Oil division, which includes our Thermal Actinic Extraction Process (TCEP), and our Marrero and Heartland business units, is a collector, aggregator, acumen manager, and re-refiner of acclimated motor oil which posted:
Refining and Marketing, which produces three audible articles from afflicted hydrocarbon streams posted:
Vertex Recovery, which is amenable for the able recycling administration of acclimated oil and acclimated oil-related articles posted:
2016 FOURTH QUARTER AND YEAR-END CONFERENCE CALL DETAILS
Those who ambition to participate in the appointment alarm may blast 877-869-3847 from the U.S. and All-embracing callers may blast 201-689-8261, about 15 annual afore the call. A webcast will additionally be accessible beneath the Broker Relations area of our website at: www.vertexenergy.com.
A agenda epitomize will be accessible by blast about two hours afterwards the achievement of the alarm until June 30, 2017, and may be accessed by dialing 877-660-6853 from the U.S. or 201-612-7415 for all-embracing callers application appointment ID #13656200.
ABOUT VERTEX ENERGY, INC.
Vertex Energy, Inc. (VTNR) is a specialty refiner and banker of high-quality hydrocarbon products. Its business capacity accommodate accession and busline of refinery feedstocks such as acclimated motor oil and added petroleum and actinic co-products to aftermath and commercialize a ample ambit of aerial abstention average and accomplished articles such as ammunition oils, abyssal brand distillates and aerial abstention abject oils acclimated for lubrication. Vertex Energy employs a bounded archetypal with cardinal hubs amid in key geographic areas in the United States.
Vertex Energy is headquartered in Houston, Texas and has processing operations amid in Houston and Port Arthur, Texas, Marrero, Louisiana, and Columbus, Ohio.
For added advice on Vertex Energy amuse acquaintance Porter, LeVay & Rose, Inc’s broker relations adumbrative Marlon Nurse, D.M. at 212-564-4700 or on our website at www.vertexenergy.com.
This columnist absolution may accommodate advanced statements, including advice about management’s appearance of Vertex Energy’s approaching expectations, affairs and prospects, aural the safe anchorage accoutrement beneath The Private Securities Litigation Reform Act of 1995 (the “Act”). In particular, back acclimated in the above-mentioned discussion, the words “believes,” “hopes,” “expects,” “intends,” “plans,” “anticipates,” or “may,” and agnate codicillary expressions are advised to yze advanced statements aural the acceptation of the Act, and are accountable to the safe anchorage created by the Act. Any statements fabricated in this annual absolution added than those of actual fact, about an action, accident or development, are advanced statements. These statements absorb accepted and alien risks, uncertainties and added factors, which may annual the after-effects of Vertex Energy, its capacity and concepts to be materially altered than those bidding or adumbrated in such statements. These accident factors and others are included from time to time in abstracts Vertex Energy files with the Securities and Exchange Commission, including but not bound to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Added alien or capricious factors additionally could accept actual adverse furnishings on Vertex Energy’s approaching results. The advanced statements included in this columnist absolution are fabricated alone as of the date hereof. Vertex Energy cannot agreement approaching results, levels of activity, achievement or achievements. Accordingly, you should not abode disproportionate assurance on these advanced statements. Finally, Vertex Energy undertakes no obligation to amend these statements afterwards the date of this release, except as appropriate by law, and additionally takes no obligation to amend or actual advice able by third parties that is not paid for by Vertex Energy.
For the Three MonthsEnded December 31,2016
For the Twelve MonthsEnded December 31,2016
* EBITDA is a non-GAAP banking measure. This altitude is not accustomed in accordance with GAAP and should not be beheld as an another to GAAP measures of performance.
EBITDA represents net assets afore interest, taxes, abrasion and amortization. EBITDA is presented because we accept it provides added advantageous advice to investors due to the assorted noncash items during the period. EBITDA has limitations as an ytic tool, and you should not accede it in isolation, or as a acting for assay of our operating after-effects as appear beneath GAAP. Some of these limitations are:
Alternation B adopted stock, $0.001 par amount per share;
10,000,000 shares authorized, 3,229,409 and 8,160,809 shares issued and outstanding at December 31, 2016 and 2015, appropriately with defalcation alternative of $10,011,168 and $25,298,508 at December 31, 2016 and 2015, respectively.
Alternation B-1 adopted stock, $0.001 par amount per share;
17,000,000 shares authorized, 12,282,638 and 0 shares issued and outstanding at December 31, 2016 and 2015, appropriately with defalcation alternative of $19,160,915 and 0 at December 31, 2016 and 2015, respectively.
Alternation A Convertible Adopted stock, $0.001 par value;
5,000,000 shares accustomed and 492,716 and 612,943 shares issued and outstanding at December 31, 2016 and 2015, respectively, with a defalcation alternative of $734,147 and $913,285 at December 31, 2016 and December 31, 2015, respectively.
Alternation C Convertible Adopted stock, $0.001 par amount per share;
44,000 shares appointed in 2016; 31,568 and 0 issued and outstanding at December 31, 2016 and 2015, appropriately with a defalcation alternative of $3,156,800 and $0 at December 31, 2016 and December 31, 2015, respectively.
Accepted stock, $0.001 par amount per share;
750,000,000 shares authorized; 33,151,391 and 28,239,276 issued and outstanding at December 31, 2016 and 2015, respectively, with 1,108,928 shares captivated in escrow at December 31, 2016.
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