Taronis Provides Corporate Update
Preserving long-term shareholder value by adopting a rights plan to protect the value of tax assets by reducing likelihood of an ownership change
Improving capital position through completion of equity financing
Employee retention plan to incentivize and retain employees
PHOENIX, AZ, March 04, 2021 (GLOBE NEWSWIRE)
Taronis Fuels, Inc., (“Taronis” or “the Company”) (OTCQB: TRNF), a global producer of renewable and socially responsible fuel products, today announced recent corporate actions taken to improve the Company’s capital position, retain and incentivize employees, and protect the availability of its net operating losses (NOLs).
On March 3, 2021, the Board of Directors of Taronis (the “Board”) adopted a shareholder rights plan designed to protect the Company’s ability to use net operating loss carryforwards (“NOLs”) under the Internal Revenue Code (“Section 382 Rights Plan”). Taronis estimates that as of Decembe
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Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Taronis Fuels Announces January Sales
Taronis Fuels, Inc.February 11, 2021 GMT
$2.3 Million Represents 5% Month Over Month Growth
PHOENIX, AZ, Feb. 11, 2021 (GLOBE NEWSWIRE) Taronis Fuels, Inc., (“Taronis” or “the Company”) (OTCQB: TRNF), a global producer of renewable and socially responsible fuel products, today announced that the Company generated $2.3 million in total sales for its domestic operations, which represents a 5% monthly increase when compared to December domestic sales of $2.2 million. These sales figures include the Company’s retail industrial gas network, branded as MagneGas Welding Supply, and the Company’s wholesale mobile gas operations, branded under TGS. Factors contributing to the monthly increase were as follows:
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Taronis Fuels to Expand MagneGas Production Capabilities
Taronis Fuels, Inc.January 25, 2021 GMT
New 100KW Unit Will Initially Serve the Arizona, California Markets
PHOENIX, AZ, Jan. 25, 2021 (GLOBE NEWSWIRE) Taronis Fuels, Inc., (“Taronis” or “the Company”) (OTCQB: TRNFD), a global producer of renewable and socially responsible fuel products, today announced that the Company has commenced the construction of a mobile 100 KW Venturi plasma arc gasification unit. The Company intends to primarily utilize components already on hand and should be able to complete the unit construction process within three months with a limited capital investment.
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Taronis Fuels Takes Disciplinary Actions Against CFO and Independent Director
CFO and Independent Director Resign
PHOENIX, AZ, Dec. 20, 2020 (GLOBE NEWSWIRE)
Taronis Fuels, Inc., (“Taronis” or “the Company”) (OTCQB: TRNF), a global producer of renewable and socially responsible fuel products, today announced that on the morning of December 18, 2020 Mary Pat Thompson, the Chief Financial Officer of the Company, was suspended indefinitely pending the resolution of a now ongoing investigation into multiple alleged violations of her duties and obligations as an officer and director of the Company. In addition, Tobias Welo, an Independent Director, was provided written notice by the Company of concerns regarding potential breaches of his fiduciary duties.
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