OriginClear Inc (OTCMKTS:OOIL) has seen a recent surge in volume as the stock sits just over $0.02 support levels. Investors are hoping it can hold it here considering the stock has been in steep decline for most of its trading history.
in recent news OOIL said its 2015 revenue estimates show a dramatic improvement over previous years. Revenue, an estimated $1,170,000 in 2015, increased by 700%, year over year, from 2014 which was approximately $200,000. The bulk of the increase came from the new subsidiary, Progressive Water Treatment, which began to contribute its revenues in the 4 [th] Quarter, when the acquisition closed.
OriginClear Inc (OTCMKTS:OOIL) 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.
OOIL 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.
In September OOIL said a Chinese precision manufacturer has initiated a planned investment of up to $1.5 million for a minority interest in OriginClear Hong Kong (OCHK), OriginClear’s wholly-owned master licensee for China. The first payment of $100,000 was made in accordance with a binding investment schedule.
The parties also agreed to launch a China-based joint venture (JV) under which the manufacturer will provide funding, and manufacturing infrastructure, while OCHK will provide technology, concept engineering, and worldwide sales opportunities.
In November OOIL announced the completion of an independent audit of its subsidiary, Progressive Water Treatment, Inc. (PWT). The independent audit was disclosed in a Form 8-K filed with the SEC and reported that PWT’s 2014 sales were $6,075,108, with net income of $813,747, or a 13.4 percent net profit margin.
OOIL President Bill Charneski said “The independent audit showed, as expected, that PWT is a solvent and profitable water treatment company, with annual revenues of about six million dollars, which it expects to repeat this year. We look forward to PWT making a significant contribution to OriginClear’s revenue and profits, beginning with the fourth Quarter of 2015.”
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On November 18 OOIL announced the Company and Renewable Water Technologies (RWT), a spin-off of Wisconsin’s Renewable Algae Group, plan to form a joint venture (JV) to offer complete treatment solutions for agricultural effluent reclamation, with a focus on dairies equipped with anaerobic digestion systems.
Headed by Steve Herman, Owner and CEO of Renewable Water Technologies, the JV is expected to deploy OriginClear’s high-speed Electro Water Separation™ (EWS) technology for first-stage water clarification of agricultural effluents.
OriginClear plans to grant the JV a license to integrate its EWS technology into the treatment process, and to contribute its experience and expertise; while RWT plans to contribute its industry relationships, and market to the farmers. The JV is designed to offer affordable and practical treatment solutions to end-users and has made plans to manufacturer locally, in partnership with a local fabrication company.
Presdent Steve Herman said “After performing a series of tests on contaminated water coming from farming operations in Wisconsin, we decided to move to the next phase of commercial deployment. Tougher water disposal regulations are forcing farmers to implement on site water treatment solutions. A 2,000-cow dairy needs about 40 million gallons of water annually. With water scarcity on the rise and increased regulation, water needs to be reused on site. Farmers are looking for innovative means to clean it back to drinking water grade.”
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Currently trading at a $4.6 million market valuation OOIL has $900k in the treasury, minimal revenues and significant debt on the books including $7 million in Derivative liabilities. But OOIL is an exciting story developing in small caps; the Company is becoming leading provider of water treatment solutions and recently reported 2015 sales topped last year by 700% We will be updating OOIL as events unfold so make sure you are subscribed to Microcapdaily so you know what is going on with OOIL.
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Disclosure: we hold no position in OOIL either long or short and we have not been compensated for this article.