OriginClear Inc (OTCMKTS: OCLN) is an exciting stock trading just over its $0.001 52 week lows. OCLN currently trades below $0.002 with significant volume.
On February 12 OriginClear Inc. reported its Progressive Water Treatment Inc. (PWT) subsidiary nearly tripled its rate of bookings, totaling about $900,000 in Purchase Orders (POs) for the month. The largest win was for a power plant, in competition against five major equipment manufacturers. The power plant purchase order is staged in 5 payments, the last being on July 3. The remaining POs have Net 30 terms. None of the January POs has a cancellation option. The power plant opportunity came through a manufacturer’s rep recommendation. As reported recently, OriginClear has seen significant growth from its developing sales network.
CEO Riggs Eckelberry stated:
“I am ecstatic as well as the rest of the OriginClear team with the early results from Marc Stevens, Mike Jenkins and the entire PWT team. They won that large contract against fierce competition because of diversity, attention to detail, and a successful track record. This increase in bookings is a great start for the new year!”
OriginClear Inc (OTCMKTS: OCLN) bills itself as a leading provider of water treatment solutions and the developer of a breakthrough water cleanup technology serving the rapidly growing $500 billion world market. Through its wholly owned subsidiaries, OriginClear provides systems and services to treat water in a wide range of industries, such as municipal, pharmaceutical, semiconductors, industrial, and oil & gas. To rapidly grow this segment of the business, we strategically acquire profitable and well-managed water treatment companies, which allow us to expand our global market presence and technical expertise. To enable a new era of clean and socially responsible water treatment solutions, we invented Electro Water Separation™, a breakthrough high-speed water cleanup technology using multi-stage electrolysis, that we license worldwide to water treatment equipment manufacturers. Water is our most valuable resource, and the mission of the “Family of OriginClear Companies” is to improve the quality of water and help return it to its original and clear condition.
The Company is building a network of profitable water service companies to expand their global market presence and our technical expertise. And now, OCLN is deploying their blockchain-based WaterChainânitiative to fund next-generation water recycling systems that can propel the worlds water supply forward into a cleaner future. Water is the most valuable resource, and the mission of OriginClear is to improve the quality of water and help return it to its original and clear condition.
To Find out the inside Scoop on OCLN Subscribe to Microcapdaily.com Right Now by entering your Email in the box below
OCLN wholly owned subsidiary Progressive Water Inc. designs and manufactures a complete line of water treatment systems for municipal, industrial and pure water applications. The company utilizes a wide range of technologies, including chemical injection, media filters, membrane, ion exchange and SCADA technology, in turnkey systems. The company also offers a broad range of services including maintenance contracts, retrofits and replacement assistance. In addition, PWT rents equipment in contracts of varying duration. Customers are primarily served in the United States and Canada, with the company’s reach extending worldwide from Japan to Argentina to the Middle East.
Further expanding on its quarterly report, the company reported that PWT’s revenue as of June 30, 2018 increased by 110% to $2,445,646 compared to $1,162,155 for the six months ended June 30, 2017. And the unit’s gross profit increased by 417% to $437,074 compared to $84,560 for the same period. Overall, OriginClear’s operating losses for the same period narrowed by 31% from $2,646,019 to $1,816,886.
The big story on OCLN is the big numbers the Company is putting out. On August 30 OCLN reported revenue at the half-year mark doubled year over year for its Dallas-based subsidiary, Progressive Water Treatment (PWT), while the division’s gross profits quadrupled, helping the company in its drive toward overall profitability.
We have a Monster Pick Coming. Subscribe Right Now
Currently trading at a $3.5 million market valuatoin OCLN has $438k in the treasury, significant debt and fast growing revenues reporting $1,250,604 in sales for the 3 months ended June 30, 2018 up from $510,325 for the same period last year. One thing that seems to be holding it back is debt holders converting. At the same time OCLN is an exciting story in small caps and the Company is making big moves and has been very successful in attracting a very active shareholder base. We will be updating on OCLN when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with OCLN.
Subscribe to Our 100% Free Penny Stock Newsletter. We Have Something Big Coming!
Disclosure: we hold no position in OCLN either long or short and we have not been compensated for this article.