TRNF - Taronis Fuels sees cash on hand supporting operations through end of 2Q21

Taronis Fuels ([[TRNF]] -15.8%) has ~$4.6M in cash on hand, which is projected to support current Company operations through Q2 2021. The Company has retired $6.9M of a $7.5M convertible note, retired all short-term merchant cash advances, and $4.6M of the $9.6M in seller financing for the TGS acquisition.Average monthly sales for the first two months of the fourth quarter were 7% higher Q/Q and 27% higher than monthly sales for the Q2 2020.Overall, domestic growth is expected to accelerate heading into 2021 where, October retail sales were $2.2M, which were the highest level of sales reported for the Company in 2020. MagneGas Welding Supply retail same-store sales to increase at least 10% Q/Q in Q1 and Wholesale gas sales to increase closer to 20%, as the Company launches its first distribution hub in the northern California market in January.

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Taronis Fuels sees cash on hand supporting operations through end of 2Q21