National Waste Management Holdings Inc. Reports 226% Increase in Revenue for the Second Quarter 2016

Revenue for the three months ended June 30, 2016 was $1.6 million versus $479,534 for the quarter ended June 30, 2015. The increase in revenue was due to the acquisitions of WRE and Gateway Rolloff during the fourth quarter of 2015 and the execution of our business model, increasing our customer base and expanded sales to current customers.

Gross profit in the second quarter of 2016 was $583,997 or 37% of revenue versus $231,902 or 48% of revenue for the same period in 2015. Operating income for the second quarter of 2016 was $9,379 versus operating income of $119,357 for the second quarter of 2015. The decrease in operating income was due to non-cash depreciation and amortization expenses of $263,035.

 Net loss for the second quarter of 2016 was $(5,913) or $(0.000) earnings per share, versus net income of $64,742 or $0.001 earnings per share for the second quarter of 2015.  We incurred a one time charge for a loss on deposits, totaling $18,500.  Without this one time charge to earnings, our net income would have been $12,587 or $0.0002 per share.  

About National Waste Management Holdings Inc.: 

National Waste Management Holdings Inc., is a growing and emerging vertically integrated solid waste management company with a concentration on C&D collection, hauling and recycling. National Waste services Florida's west coast and upstate New York and is a distinguished leader in solid waste services. More information may be found at the Company's website: http://www.nationalwastemgmt.com.

This release contains certain statements that are, or may be deemed to be, forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934, and are made in reliance upon the protections provided by such Acts for forward-looking statements.  We have identified forward-looking statements by using words such as "expect," "believe," and "should." Although we believe our expectations are reasonable, our operations involve a number of risks and uncertainties that are beyond our control, and these statements may turn out not to be true. Risk factors associated with our business, including some of the facts set forth herein, are detailed in the Company's Form SEC filings. 

   

                       NATIONAL WASTE MANAGEMENT HOLDINGS, INC.
                           CONSOLIDATED BALANCE SHEETS
                                                                          
                                                     June 30, 2016  December 31, 2015      
    Assets
    Current assets:
    Cash and cash equivalents                    $         276,976    $       344,365
    Accounts receivable, net                               656,444            570,347
    Prepaids and other current assets                       66,790             38,362
    Due from related party                                  54,473             54,473

                                                        
    Total current assets                                 1,054,683          1,007,547                       

                                                        
    Property and equipment, net                          4,930,029          5,041,280                        

    Other assets:                                          324,950            324,950
    Secured letter of credit                             1,354,721          1,413,353
                                                         
    Intangible assets, net                                                       
                                                        
    Goodwill                                             2,215,236          2,179,183         
    Deferred tax asset                                      36,474             53,662
    Other deposits                                          13,698              8,750

                                                        
    Total other assets                                   3,945,079          3,979,898
    Total assets                                 $       9,929,791    $    10,028,725

    Liabilities and Stockholder's Equity
    (Deficit)
    Current liabilities:
    Accounts payable and accrued expenses        $         284,411    $       261,199
    Current portion of long term debt                      146,073            184,932
    Current portion of capital lease obligations            28,125             25,131
    Due to related party                                   126,913            742,441
    Short term related party acquisition notes              25,000            350,000
    Accrued preferred stock dividends                      100,000                  -
        
    Total current liabilities                              710,522          1,563,703

    Long-term liabilities:
    Capital lease obligations, net of current portion       83,656            102,929
    Long term debt, net of current portion                 349,430            419,073
    Environmental remediation obligation                   424,596            424,596
                                                                              2,017,3
    Loan from shareholder                                        -                 01
    Long term deferred tax liability                        70,221             70,221

    Total liabilities                            $       1,638,425    $     4,597,823

    Commitments and contingencies (see note 5)

    Stockholders' equity (deficit):
    Common stock, no par value; 250,000,000
    shares authorized, 66,923,312 and
    62,880,483 shares issued and outstanding at
    June 30, 2016 and December 31, 2015,
    respectively.                                $               -    $             -
    Series A Preferred stock, no par value;
    10,000,000 shares authorized, 1 share and 0
    shares issued and outstanding as of June
    30, 2016 and December 31, 2015,
    respectively                                                 -                  -
    Series B Preferred stock, no par value;
    10,000,000 shares authorized, 2,000,000
    shares and 0 shares issued and outstanding
    as of June 30, 2016 and December 31, 2015,           
    respectively                                         2,000,000                  -
                                                                     
    Additional paid-in capital                           6,238,415          2,456,136

    Common stock subscribed                                375,304          3,150,000

    Retained earnings (deficit)                           (322,353 )         (175,234 )

    Total stockholders' equity                           8,291,366          5,430,902
                                                                     
    Total liabilities and stockholders' equity   $       9,929,791    $    10,028,725

   

                               NATIONAL WASTE MANAGEMENT HOLDINGS, INC.
                                CONSOLIDATED STATEMENTS OF OPERATIONS

                           Six Months       Six Months     Three Months   Three Months
                              Ended           Ended            Ended          Ended
                            June 30,         June 30,        June 30,        June 30,
                              2016             2015            2016            2015

                                                     
    Revenues           $   3,117,6 34    $    870,126    $   1,564,338   $    479,534

    Cost of revenues        1,897,375         445,539          980,341        247,632

    Gross profit            1,220,259         424,587          583,997        231,902

    Selling, general
    and administrative           
    expenses                1,166,866         233,300          574,618        112,545

    Income from operations     53,393         191,287            9,379        119,357

    Other income (expenses):
    Interest expense          (35,772 )       (19,620 )        (18,707 )      (11,454 )
    Write off of landfill
    deposits                  (72,473 )             -                -              -
    Write off of other
    deposits                  (18,500 )             -          (18,500 )            -
    Other expenses                  -          (4,807 )              -              -
    Total other income
    (expenses)               (126,745 )       (24,427 )        (37,207 )      (11,454 )

    Income (loss) before
    income taxes              (73,352 )       166,860          (27,828 )      107,903

    Income tax expense
    (benefit)                 (26,233 )        63,744          (21,915 )       43,161

    Net income (loss)      $  (47,119 )  $    103,116    $      (5,913 )  $    64,742

    Net income (loss) per
    common share:

    Basic                  $   (0.001 )  $      0.002    $      (0.000 )  $     0.001
    Diluted                $   (0.001 )  $      0.002    $      (0.000 )  $     0.001

    Weighted average
    number of shares
    outstanding:
                                                           
    Basic                  66,178,188       60,054,444      66,668,596     60,100,000    
    Diluted                66,178,188       60,054,444      66,668,596     60,100,000

Investor Relations:
Natalya Rudman
Crescendo Communications, LLC
+1-212-671-1020, Ext:304
nwmh@crescendo-ir.com

SOURCE National Waste Management Holdings Inc