Galenfeha CEO Updates Shareholders
Galenfeha Announces Fleaux Services LOI
Galenfeha Secures Additional Contracts
GALENFEHA SECURES ADDITIONAL CONTRACTS, ADDITIONAL CITIES
FORT WORTH, TEXAS, June 14th, 2018—Galenfeha, Inc. (OTC:GLFH) announced today the company was awarded an additional contract by a prime contractor for work in the city of Shreveport, LA. The company also began an expansion program outside the city of Shreveport.
On June 8th, 2018, Galenfeha was awarded a contract in the amount of $310,000 for additional work for the City of Shreveport. The awarded work is for mainline point repairs and service lateral reconnects and will double this source of revenue in comparison to Q1 this year.
Galenfeha’s President and Chief Executive Officer, Mr. Trey Moore stated: “As we begin Phase II of the Shreveport, LA project, this additional work will strengthen our Q2 Revenue and Profit numbers as the City is off to a slower than anticipated start while they are completing Phase I. With multiple Phase II contracts beginning simultaneously, we foresee Q3 and Q4 more than doubling Q1 and Q2 and fully expect to meet our previously cited revenue and income projections for 2018.”
Today, the company is informing the public that wastewater rehabilitation work will begin outside the City of Shreveport starting third quarter this year. Multiple cities have afforded us the opportunity to expand our patented and protected lateral lining technology. http://www.cosmic.at/englisch/index.html.
Mr. Moore continued: “We are committed to our lateral material and equipment supplier, expanding into the other states secured by our exclusivity agreement, which creates growth for the company and adds value to our shareholders. We are excited about the additional growth opportunities outside of Shreveport and will continue to expand our operations as profits allow”.
Mr. Moore concluded: “I stand by my previous comments and pledge to work tirelessly for the shareholders of Galenfeha and to keep them updated on a continuous basis as material events, both positive and negative, occur over time.”