Form 8-K MAGNEGAS CORP For: Apr 26

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): April 26, 2018

 

MAGNEGAS CORPORATION

(Exact name of registrant as specified in its charter)

 

Delaware		001-35586		26-0250418
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employee Identification No.)

 

11885 44th Street North

Clearwater, FL 33762

(Address of principal executive offices) (Zip Code)

 

Registrant’s telephone number, including area code: (727) 934-3448

 

Not applicable

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

[  ]	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company [X]

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [X]

 

 

 

Item 7.01 Regulation FD Disclosure.

 

On April 26, 2018, MagneGas Corporation (“Company”) issued a press release announcing preliminary industrial gas and welding supplies sales for the first quarter ending March 31, 2018.

 

Without limiting the generality of the foregoing, the “Forward-Looking Statements” disclosure contained in the press release is incorporated by reference into this Item 7.01. The information contained in this Item 7.01, including Exhibit 99.1, shall not be deemed to be “filed” for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, and such information is not incorporated by reference into any registration statements or other document filed under the Securities Act of 1933, as amended or the Exchange Act, regardless of the general incorporation language contained in such filing, except as shall be expressly set forth by specific reference to this filing.

 

A copy of the press release that discuss this matter is attached hereto as Exhibit 99.1, and is incorporated herein by reference.

 

Item 8.01 Other Events.

 

The information provided in Item 7.01 of this Current Report on Form 8-K is incorporated by reference into this Item 8.01.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit No.		Description
99.1		Press Release, dated April 26, 2018, issued by MagneGas Corporation.

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: April 26, 2018

 

	MAGNEGAS CORPORATION
		/s/ Ermanno Santilli
	By:	Ermanno Santilli
	Its:	Chief Executive Officer

 

 

 

 

News Release

Investor Contacts:

Crescendo Communications

T: 844-589-8760

[email protected]

 

MagneGas Announces Record Sales for First Quarter of 2018;

 

Revenue Increases 42% to $1.2 Million

 

TAMPA, FL – April 26, 2018 — MagneGas Corporation (“MagneGas” or the “Company”) (NASDAQ: MNGA), a leading clean technology company in the renewable resources and environmental solutions industries, announced today that the Company generated record sales of $1.2 million for the first quarter of 2018. This represents the highest combined industrial gas and welding supply sales in corporate history. During the first quarter of 2018, the Company made two acquisitions, with the first in San Diego, CA, and the second in Tyler, TX. These acquisitions helped expand the Company’s access to new clients and added additional experienced sales staff to facilitate additional revenue growth.

 

“We have emphasized the importance of expanding our regional footprint, and these results highlight the success of our strategy,” commented CEO Ermanno Santilli. “This is our first quarter generating sales in excess of $1.0 million, and yet we are still in the early stages of our growth strategy. We have an excellent sales team and a world class product, MagneGas2^®, that is capable of revolutionizing the metal cutting industry. Our main focus now is continuing to drive sales growth and unlocking the potential of our technology in the marketplace.”

 

“We are pleased to report these results that we believe further validate our growth strategy,” commented Scott Mahoney, CFO of MagneGas. “While a 42% year over year revenue growth is compelling, we are also beginning to benefit from the economies of scale. As such, we are rapidly heading towards sustained, profitable growth.”

 

About MagneGas Corporation

 

MagneGas^® Corporation (MNGA) owns a patented process that converts various renewables and liquid wastes into MagneGas fuels. These fuels can be used as an alternative to natural gas or for metal cutting. The Company’s testing has shown that its metal cutting fuel “MagneGas2^®” is faster, cleaner and more productive than other alternatives on the market. It is also cost effective and safe to use with little changeover costs. The Company currently sells MagneGas2^® into the metal working market as a replacement to acetylene.

 

 

The Company also sells equipment for the sterilization of bio-contaminated liquid waste for various industrial and agricultural markets. In addition, the Company is developing a variety of ancillary uses for MagneGas^® fuels utilizing its high flame temperature for co-combustion of hydrocarbon fuels and other advanced applications. For more information on MagneGas^®, please visit the Company’s website at http://www.MagneGas.com.

 

The Company distributes MagneGas2^® through Independent Distributors in the U.S and through its wholly owned distributors, ESSI, Green Arc Supply, Trico Welding Supply and Complete Welding of San Diego. ESSI has three locations in Florida, Green Arc has two locations in Texas and one location in Louisiana, Trico has two locations in northern California, and Complete Welding has one location in southern California.

 

FORWARD-LOOKING STATEMENTS

 

This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to future events, including our ability to raise capital, or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

 

For a discussion of these risks and uncertainties, please see our filings with the Securities and Exchange Commission. Our public filings with the SEC are available from commercial document retrieval services and at the website maintained by the SEC at http://www.sec.gov.

 

 

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