TMCnet News
Rock Ridge Resources, Inc. Second Quarter Profit Exceeds $3.7 Million and Announces the Appointment of a New President and Director(Marketwire Via Acquire Media NewsEdge) LAKE ARROWHEAD, CA -- (Marketwired) -- 08/16/14 -- The Board of Directors of Rock Ridge Resources, Inc. (PINKSHEETS: RRRI) are pleased to announce their 2014 first and second quarter earnings. Rock Ridge Resources, Inc. (PINKSHEETS: RRRI), in an un-audited consolidated statement with its subsidiary, Serenity Lodge, Inc., reported Total Income of $6,419,775, and net income of $3,779,347 for the first and second quarter ending on June 30, 2014. This growth is compared to their 2013 first and second quarter results, where they reported total income of $1,002,901 with a net income of $51,273. Rock Ridge continues to show an $18,465,000 net operating loss carryover, from previous management's years of operations. On June 3, 2014, Rock Ridge also announced a 3% Stock Dividend on its first quarter results of $3,190,000 income, with $2,038,000 in net revenue. In July 2014, Daniel Voorhees was appointed as the new President and Director of both Rock Ridge Resources and its subsidiary, Serenity Lodge, after its former President, KC Hollmer, announced his resignation. Daniel Voorhees previously served as the Director of Operations for Serenity Lodge since 2011, and comes from an extensive corporate and legal background. Daniel earned his B.A. degree from Loyola Marymount University and his J.D. degree from Western State College of Law. Rock Ridge Resources is a petroleum company that provides capital and receivable financing for management, expansion and natural resources. The company has profitable real estate holdings and facility management in addition to Oil and Gas. As part of the new strategy it completed the purchase of Serenity Lodge in Oct. of 2012. Rock Ridge Resources is a licensed, State of California Alcohol and Drug Treatment Facility, while its wholly owned subsidiary, Serenity Lodge operates the facility. The operation is located in a serene mountain setting in Lake Arrowhead, CA. and was designed to treat men only 18 years and older in a peaceful and natural recovery environment. For more information on Rock Ridge Resources Inc. and Serenity Lodge, Inc., please visit our websites at: www.RockRidgeResourcesinc.com and www.serenitylodgelakearrowhead.com. Legal Notice Regarding Forward-Looking Statements: This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Rock Ridge Resources, Inc. to be materially different from the statements made herein. Except for any obligation under the U.S. federal securities laws, Rock Ridge Resources, Inc. undertakes no obligation to publicly update any forward-looking statement as a result of new information, future events or otherwise. Source: Rock Ridge Resources, Inc. |