Petrogress, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2021
July 02, 2021 at 02:01 pm EDT
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Petrogress, Inc. announced earnings results for the first quarter ended March 31, 2021. For the first quarter, the company announced total revenue was USD 1.504 million compared to USD 2.147 million a year ago. Operating loss was USD 129,091 compared to USD 543,019 a year ago. Net loss was USD 146,185 compared to USD 910,397 a year ago. Basic loss per share from continuing operations was USD 0.0042 compared to USD 0.2 a year ago.
Petrogress, Inc., formerly 800 Commerce, Inc., is a holding company. The Company, along with its subsidiaries, is engaged in international trading and shipping business. The Company is engaged in exploring the potential for acquiring or purchasing or leasing newly built liquefied natural gas (LNG) vessels in the United States to be used for the supply and sea freight of the United States LNG exports. The Company's subsidiary, Petrogres Co. Ltd. (Petrogres), operates as an oil commodity company in West Africa. Its other subsidiaries are Petronav Carriers LLC (Petronav) and Petrogress Oil & Gas Energy Inc. (Petrogress Energy). Petronav focuses on primarily managing the day-to-day operation and handling of the tanker fleet it manages. Petrogress Energy is primarily focused on investigating the feasibility of acquiring oil fields in Texas so that the Company can expand its operations into the LNG market within the United States market.
PETROGRESS, INC. 
