HydroFlo Third Quarter 2005 10Q Shows Strong Net Profits
RALEIGH, N.C., May 9, 2005 - HydroFlo, Inc. (OTC BB:HYRF) announced that its 3rd
Quarter 2005 10-Q with quarterly financial results was filed with the Securities and
Exchange Commission on May 6, 2005.
HydroFlo CEO Dennis Mast commented, “This quarterly report illustrates that as the
Company continues to expand and build the base of portfolio companies in the water
market, it is making progress in the efforts to increase the value of the Company’s
investment portfolio. There are clear indications that progress has been made since our
year ended June 30, 2004.”
“We expect continued improvement in the Company’s financial performance as portfolio
companies HydroFlo Water Treatment (HWTI) and Metals & Arsenic Removal
Technology (MARTI) continue to grow and capture a larger segment of the water
treatment and purification markets. Additionally, the portfolio company Safety Scan
Technology (SSTI) is expected to show strong benefits in expanding the market base of
the company,” added Mr. Mast.
“Since the completion of the 3rd Quarter we have added another portfolio company, Ultra
Choice Water, Inc., which will lease bottle-less water coolers to the commercial office
market. This company will also provide financing for residential customers who wish to
purchase whole house or under counter water treatment systems,” said Mr. Mast.
HydroFlo investment in controlled companies has increased 110% since June 30, 2004,
while acquiring synergetic technology through equity transactions. The company
achieved pre-tax profits of over $291,000 for the nine-month period and an increase in
net asset value to $0.12 per share for the most recent quarter ended March 31, 2005.
About HydroFlo
HydroFlo (http://www.hydroflo.us) is a Business Development Company, as defined by
the Investment Act of 1940. Headquartered in Raleigh, North Carolina, HydroFlo’s core
focus is to seek out synergistic acquisitions that will provide capital appreciation and
income from its portfolio companies. The mission of HydroFlo is to locate, develop, and
fund innovative technologies and businesses and utilize these acquisitions to make pure
water available to the world by means of disinfection, purification, and removal of
contaminants. It is our belief that water can overcome hunger, disease, poverty, and
improve the overall quality of life on earth.
Statements regarding financial matters in this press release other than historical facts are ``forward-looking
statements’’ within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities
Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995.
The company intends that such statements about the Company’s future expectations, including future
revenues and earnings, and all other forward-looking statements be subject to the safe harbors created
thereby. Since these statements (future operational results and sales) involve risks and uncertainties and
are subject to change at any time, the Company’s actual results may differ materially from expected results.
Contact:
HydroFlo, Inc.
Investor Relations
Rebecca Morgan
919-772-9925
rmorgan@hydroflo-inc.com |
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