CARLSBAD, CA / ACCESSWIRE / December 9, 2020 / OPTEC International, Inc (OTC PINK:OPTI), a developer of UV and UV-C safety products and related advanced technologies specific to Personal Protection Equipment (PPE), today released a shareholder update letter.
To our Shareholders,
I would like to start by thanking each and every one of our shareholders for their continued support of Optec International, Inc. I am pleased to report to you on our 2020 year to date progress and share our outlook for the balance of the year. The Company has grown tremendously over the year as evidenced by the increase in revenues, and we believe we are well positioned to continue to deliver value for our shareholders. Some of the developments we would like to highlight and update the shareholders on include:
We closed a $5,000,000 funding deal with RB Capital Partners, Inc., creating a solid financial foundation for growth in the coming year. As of today, RB Capital has funded $4,600,000 of the $5,000,000 deal with Optec. The primary use of funds has been for the iWandä production and distribution in addition to financing the PPE deal. The funding partnership not only signifies the support of a long-term financial partner, but also indicates that we have paid off all other harmful debt. The investment money provided by RB Capital is completely non-toxic, non-dilutive and is in the best interest of the Company and the shareholders as the it has a fixed conversion price of $0.70 per share.
The company is finalizing the logistics portion of the recent $2B PPE purchase order and is anticipating completion by the end of the month. It is expected that the revenue portion of this transaction will be reported on the December 31, 2020 quarterly report.
We surpassed our previous quarter's income and revenue by over 600% for the period ending September 30, 2020. The Company surpassed its $4,000,000 projection for the quarter ending September 30th and, in fact, showed revenue and income totaling $6,284,609 and a net income of $3,381,730. In addition, the Company has paid in full all previous convertible institutional notes and the interest and liabilities associated with those notes. We project an increase in revenue over last quarter for Q4.
We signed an exclusive distribution deal with the country of Greece for the Optec UV, UV-C, and other North American Distributors for the company's PPE product lines. We continue to provide and ship our products to distributors on a regular basis.
We signed contracts with several large retail outlets for the sale of our UV-C product line. We understand that the public is eager to know the specific names of these retails, but at this time we are contractually bound from releasing those names. We will soon be able to release this information to the public and look forward to doing so.
Optec International, Inc.'s Fuel Maximizer Product Line. The company continues to manufacture, promote, and sell the fuel maximizer product line nation-wide.
Optec appoints Dr. Drew Pinsky, nationally known television, radio, and podcasting host and New York Times bestselling author as Brand Ambassador. Dr. Drew will help to open up increased distribution opportunities. We announced a new agreement with Vinco Ventures, Inc. (NASDAQ:BBIG)
On December 3, 2020 for the distribution of our iWandä and the Hydroxyl Portable Air Sterilizer.
We have successfully launched our Touchless Safe- Scanners and Rovers within several different school districts. To date, we have implemented our Touchless Safe-Scanners and Rovers to both local and nationwide school districts. It remains to be seen when all schools will be given the green light to fully re-open, but we have strong relationships with several school districts around the country to be able to ship more product and enable a safe re-open when allowed.
The Harrington Group is launching a nation-wide Campaign for the iWandä. Kevin Harrington and his group will be launching their own social media campaign marketing the iWandä to their network and beyond. This campaign coupled with the promotional billboards around Los Angeles will continue to increase market awareness for this product.
Forecast and Outlook for 2021. We plan on uplisting to the QB in the beginning of Q1 and have already started the process. We also plan on applying for Penny Stock Exempt status as we will soon meet the criteria. Based on our current growth, we anticipate the Company will be preparing for an uplist to the Nasdaq at some point in the later part of 2021 or early 2022 as we currently meet many of the requirements for that exchange. Optec also expects that revenues will continue to exceed all expectations as several other large PPE deal are going to be completed in 2021.
About OPTEC International, Inc.
With Locations in Carlsbad and Vista, California, OPTEC International is a developer and manufacturer of electronic LED, Ultraviolet (UV) & UV-C safety products and related advanced technologies and PPE (Personal Protection Equipment) products. The company's Safe-Scan product line is being launched at a time when HR directors and facilities managers are experiencing extreme concern with respect to keeping environments safe during the global pandemic crisis and the safe reopening of the U.S. economy. For more information visit: www.optecuvc.com
Safe Harbor Statement: Safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as Opti, OPTEC or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions, or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. OPTEC International Inc.
OPTEC International, Inc.
Investor Relations Contact:
Andrew Barwicki
516-662-9461 / Andrew@barwicki.com
SOURCE: OPTEC International, Inc.
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