Vision Energy (VENG) 8-K Results of Operations and Financial Condition

Exhibit 99.01

H/Cell Energy Reports FY2017 Third Quarter Results

Flemington, NJ, November 9, 2017 (GLOBE NEWSWIRE) — H/Cell Energy Corporation (OTCQB-HCCC) (“HCCC”), a company that designs and implements clean energy solutions featuring hydrogen energy systems has announced financial results for its third fiscal quarter ended September 30, 2017.

For the three months ended September 30, 2017, HCCC generated revenue of $1,338,571 and a net loss of $52,446 or ($0.01) in earnings per share, fully diluted. For the nine months ended September 30, 2017, HCCC generated revenue of $5,136,074 and net income of $98,912 or $0.01 in earnings per share, fully diluted.

Andrew Hidalgo, CEO of HCCC, commented, “We are pleased to be profitable year-to-date through nine months. We experienced some project completion delays in the third quarter, however, our Australian operation was profitable and they are positioned nicely for the fourth quarter with approximately $962,000 of backlog yet to be invoiced. In addition, we have $5.9 million in active bids. From a balance sheet perspective, HCCC is healthy with over $400,000 in cash and assets of approximately $1.4 million. We look forward to a strong finish for FY2017.”

About H/Cell Energy Corporation:

H/Cell Energy Corporation is a systems integrator that focuses on the design and implementation of clean energy solutions including solar, battery technology and hydrogen energy systems. In addition, through its Pride Group subsidiary based in Australia, HCCC also provides security systems integration. HCCC serves the residential, commercial and government sectors. Please visit our website atwww.hcellenergy.com for more information.

Forward Looking Statements:

Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimate,” “expect,” and “intend,” among others. These forward-looking statements are based on current expectations and actual results could differ materially. H/Cell Energy Corporation does not undertake an obligation to update or revise any forward-looking statement. The information set forth herein speaks only as of the date hereof.

H/Cell Energy Corporation

Investor Relations

908-837-9097 x-2

H/CELL ENERGY CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

	September 30, 2017			December 31, 2016
		(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$	421,071		$	537,867
Accounts receivable (net retention)		817,657			650,886
Prepaid expenses		13,675			14,168
Costs and earnings in excess of billings		15,641			91,904
Total current assets		1,268,044			1,294,825
Property and equipment, net		104,764			99,816
Security deposits and other non-current assets		8,583			8,497
Total assets	$	1,381,391		$	1,403,138
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable and accrued expenses	$	536,340		$	661,237
Management fees payable – related party		47,000			52,000
Billings in excess of costs and earnings		87,736			83,538
Sales tax payable		58,739			114,085
Total current labilities		729,815			910,860
Commitments and contingencies
Stockholders’ equity
Common Stock - $0.0001 par value; 25,000,000 shares authorized;  7,041,579 and 3,131,579 shares issued and outstanding  as of September 30, 2017 and December 31, 2016, respectively		704			313
Preferred Stock - $0.0001 par value; 5,000,000 shares authorized;  0 shares issued and outstanding		-			-
Additional paid-in capital		1,319,072			1,283,422
Accumulated deficit		(641,739	)		(740,651	)
Accumulated other comprehensive loss		(26,461	)		(50,806	)
Total stockholders’ equity		651,576			492,278
TOTAL LIABILITIES & STOCKHOLDERS’ EQUITY	$	1,381,391		$	1,403,138

H/CELL ENERGY CORPORATION

CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS – OTHER COMPREHENSIVE INCOME

	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
	2017			2016		2017		2016
				(As restated)				(As restated)
Revenue
Construction income	$	1,292,905		$	1,284,362	$	5,050,155	$	4,031,845
Related party		45,666			-		85,919		1,500
Total revenue		1,338,571			1,284,362		5,136,074		4,033,345
Cost of goods sold
Direct costs		870,369			891,876		3,432,098		2,796,861
Direct costs – related party		37,304			-		87,649		1,500
Total cost of goods sold		907,673			891,876		3,519,747		2,798,361
Gross profit		430,898			392,486		1,616,327		1,234,984
Operating expenses
Research and development		-			-		-		2,000
General and administrative expenses		437,344			347,194		1,379,415		1,790,700
Management fees – related party		46,000			34,000		138,000		102,000
Total operating expenses		483,344			381,194		1,517,415		1,894,700
Income (Loss) from operations		(52,446	)		11,292		98,912		(659,716	)
Net income (loss)	$	(52,446	)	$	11,292	$	98,912	$	(659,716	)
Other comprehensive income (loss), net
Foreign currency translation adjustment		5,928			127,487		24,345		181,863
Comprehensive income (loss)	$	(46,518	)	$	138,779	$	123,257	$	(477,853	)
Earnings (Loss) per share
Basic	$	(0.01	)	$	0.00	$	0.02	$	(0.24	)
Diluted	$	(0.01	)	$	0.00	$	0.01	$	(0.24	)
Weighted average common shares outstanding
Basic		7,084,436			3,131,579		6,601,873		2,760,170
Diluted		7,962,049			3,131,579		7,472,520		2,760,170