Recent Past has been good to us #DGWR

DEEP GREEN Waste & Recycling, Inc (OTCMKTS:DGWR)

SAINT SIMONS ISLAND, GEORGIA, UNITED STATES, October 26, 2022 /EINPresswire.com/ -- DEEP GREEN Chairman and CEO pens an open letter to update potential shareholders and investors on milestones and waypoints. This is part I of III. DGWR is a publicly traded stock on the OTC Markets


"To our investors and potential investors

I would like to address some issues in a three-part series. I will talk about the recent past in this communication. In a couple of weeks we can address the present with fresh 10Q results and then lastly we can talk about the foreseeable future as we gear up for 2023 and beyond.

We have come a long way since the beginning of 2021. We were afforded the opportunity to purchase the rolloff dumpster company Amwaste. Situated on Sant Simons Island, Georgia with assets and operations also located in Brunswick, Georgia, we are able to service most of the Golden Isles region of coastal Georgia. Our Amwaste rolloff business should not be confused with the other Amwaste which offers residential garbage collection services in Mississippi and parts of west/central Georgia. The two companies with the same name are completely unrelated. Amwaste of the Golden Isles checked a lot of boxes for us, most importantly it allowed us to remove the shell status from our ticker. Our intent was to take this company that had been neglected for years, invest $150K in new equipment and prime the marketing pump to increase sales and profit. While we started stacking in investment dollars to do just that, our ongoing negotiations to acquire additional companies heated up and indeed became flaming hot. Lyell Environmental Services (LES) became available. Seeing the greater good of LES, we channeled all of our investment resources toward acquiring LES. It worked. One year ago we purchased LES. That was good for DGWR and our shareholders but it forced us to postpone badly needed investment in Amwaste. In the meantime, the lack of investment for Amwaste has proven problematic. Aging trucks have continued to break down leading to lost revenue and high repair & maintenance costs; neither of which helps the bottom line. An investment of $125K would secure one new rolloff truck capable of hauling 20yd containers and ten 20 yd containers. Offering 20 yd containers is part of our strategy to increase revenues and margins as demand for the larger containers is real and the margins are better. Ideally, two $125k rounds of investment would set Amwaste on the proper and previously planned course.

The good news is that we were indeed able to purchase LES. This was a huge win for us. The only way this was possible was via convertible notes. At this point, the currency we have to rebuild our company is our publicly traded stock. Without it, Deep Green Waste & Recycling Inc as we know it would have died long ago and been forever silenced. It has been one year since we purchased LES. There were several items that needed immediate attention. Workers were suffering from low morale, and financial and operating systems were rudimentary or non-existent. Specifically, we have advanced our cause by first and foremost, by empowering management. We have also implemented project planning processes, improved financial management, test results are tracked better, better communication with customers on project progress and migrating long-time contract workers to full-time employees. Financial results will be released shortly as we complete or 3rd quarter 10Q filing. We are encouraged by preliminary results.

Foamshield – Many folks have asked why we did not pursue Foamshield. Foamshield is a very likeable product that had not been fully utilized and was tentatively valued in a good spot; all of which appealed to us. Our intent was to affect an asset purchase which seemed simple enough because we were not aware of any significant liabilities. Upon a deeper due diligence dive, the balance sheet was pinned with heavy and restrictive liabilities that made an asset purchase impossible and any other deal untenable. We remain in contact with Foamshield leadership and we are open to other possibilities, but nothing is imminent.
So over the past two years, we have gone from having no operations to establishing a solid operational footing with the purchase of AMWASTE Rolloff Dumpsters of the Golden Isles. We strengthened that base by adding the strong revenue and margins of LES Environmental Services. While LES continues to win new work, our struggle here is being able to fund the growth. As a reminder, LES fronts the labor and supplies cost of each job and is made whole 45-90 days later when the general contractor pays us. AMWASTE will require additional investment to get strong enough to contribute to the bottom line.

As discussed, we will be releasing financial results in the coming weeks and beyond that, we’ll share plans for 2023 and beyond. Thank you for your continued interest in and support of DGWR. If you have any questions, you can reach us investor@deepgreenwaste.com.

Best Regards,



Bill Edmonds
Chairman"

SAFE HARBOR STATEMENT This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results or implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect changes.

DGWR - Investor Relations
DEEP GREEN Waste & Recycling, Inc
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