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Luminart Corporation Reported Unaudited Financials for the Third Quarter Ending September 30, 2013 - Luminart Corp., is a provider of aggregate, heavy hauling, infrastructure development and oil well services throughout the Bakken and Threeforks oil and gas fields - Luminart.com
Luminart Corporation Reported Unaudited Financials for the Third Quarter Ending September 30, 2013

 

NewswireToday - /newswire/ - Bountiful, UT, United States, 2013/11/21 - Luminart Corp., is a provider of aggregate, heavy hauling, infrastructure development and oil well services throughout the Bakken and Threeforks oil and gas fields - Luminart.com. Pinksheets: LUMP

   
 
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During three month period ended September 30, 2013, the Company recognized revenues of $1,944, 385 compared with $3,202, 210 for the three months ended September 30, 2012. For the nine months ended September 30, 2013 the Company recognized revenues of $3,713, 486 compared to $8,122, 081 for the nine months ended June 30, 2012.

For the three months ended September 30, 2013, the Company incurred general and administrative expense of $762,256 compared with $281,711 for the three months ended September 30, 2012. Overall, general and administrative costs increased during the period primarily due to the increase in payroll and depreciation. For the nine months ended September 30, 2013 the general and administrative expenses were $1,774, 695 versus $1,206, 542 for the nine months ended September 30, 2012.

For the three months ended September 30, 2013, the Company experienced a net loss of $319,267 compared with a net profit of $233,520 for the three months ended September 30, 2012. The decrease is attributed to the fact that the Company began depreciation on a quarterly versus annual basis and the extremely long 2013 winter. For the nine months ended September 30, 2013 the Company experienced a loss of $444,633 as compared to a net profit of $638,154 for the nine months ended September 30, 2012.

Forward-Looking Statements:

This press release may contain forward-looking statements, including, but not limited to, statements regarding Luminart Corp. and their plans, products and related market potential. Forward-looking statements may be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential" or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in Luminart Corp.'s filings with the Pink Sheets, which factors are incorporated herein by reference. Readers are cautioned not to place undue reliance on any of these forward-looking statements. Luminart Corp. undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual outcomes.

 
 
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Luminart Corporation Reported Unaudited Financials for the Third Quarter Ending September 30, 2013

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Publisher Contact: Doug - Luminart.com 
801-786-9728 Doug[.]luminart.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Luminart Corporation securities in any jurisdiction including any other companies listed or named in this release.

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