Taronis Technologies Inc (OQ:MNGA)

Business Focus: Hydrogen Fuel

Sector:  Energy Industry:  Renewable Fuels
See Regulatory Filings on SEC
Company Contact
Address: 11885 44th St N
CLEARWATER FL 33762-5106
Tel: 1-212-8961233
Website: magnegas.com
IR: See website
Key People
Robert L. Dingess
Independent Interim Chairman of the Board
Timothy Hauck
Chief Financial Officer, Controller
Clinton Rafe Dean
Chief Operating Officer
Tyler B. Wilson
Executive Vice President, Corporate Secretary
Jack Armstrong
Executive Vice President - Business Development
Richard Conz
Executive Vice President - Engineering and Technology Development
Ermanno P. Santilli
Chief Technology Officer, Director
Business Overview
Taronis Technologies Inc., formerly MagneGas Applied Technology Solutions, Inc., is an alternative energy company. The Company creates and produces hydrogen-based alternative fuel through the gasification of carbon-rich liquids, including certain liquids and liquid wastes. The Company also markets, for sale or licensure, its plasma arc technology for the processing of liquid waste (the Plasma Arc Flow System). Its products include the fuel called MagneGas2 for the metal working industry, the equipment primarily known in the firefighting industry, known as MagneTote, and the machines that produce MagneGas2, known as Plasma Arc Flow refineries. In addition, the Company sells metal cutting fuels and ancillary products through its subsidiary, Equipment Sales and Service, Inc. a Florida corporation. It focuses on market segments, such as industrial gas sales, equipment sales for liquid waste processing and use of MagneGas2 for the co-combustion of hydro-carbon fuels to reduce emissions.
Financial Overview
For the nine months ended 30 September 2018, Taronis Technologies Inc revenues increased from $2.7M to $6.7M. Net loss applicable to common stockholders increased 43% to $11.8M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Higher net loss reflects Change in fair value of derivative liabi decrease from $2.3M (income) to $0K.