VISTA, CA / ACCESSWIRE / October 22, 2021 / OPTEC International, Inc. (OTC PINK:OPTI) today announced a summary annual review for the filing period July 1st, 2020 - June 30th, 2021.
The period reflected from July 1st, 2020, to June 30, 2021, represents the company's previous stated fiscal year, the fiscal year end has since been modified to December 31st for all subsequent years. The company's next quarterly report for period ending September 30, 2021, due by November 15, 2021 (formerly Q1) will now be recognized as Q3 and the December 31st, 2021, Filing will be the updated Annual 10K.
The change brings the company's Quarterly reports into more sequential filing order as recognized with most publicly traded companies.
Prior to the pandemic the company produced a series of high quality Off-Grid Solar LED commercial and security light products and was planning the production of a new series of Trailer-Mounted Solar Power generators primarily designed for ease of power on-demand in such emergency situations such as disaster relief, power outages and back-up generator systems for healthcare, schools and senior centers. The company additionally produced the recognized patented Fuel Maximizer products, one of the few US made automotive emission reduction, fuel economy and performance products to receive multiple California Air Resource Board (CARB) executive orders.
For the quarter ending September 30, 2020, the pandemic began reaching astronomical levels worldwide, and as OPTEC began expanding UV & UVC product lines for non-toxic sterilization and disinfection solutions, in particular the "OPTEC iWand" the expansion into the rapidly growing PPE market became more aggressive. This growth created demand for bigger facilities and distribution and increasing the company's revenues and profitability. This created additional levels of opportunity in the PPE market including the $2B consortium order and the introduction of the OPTEC Shield, Non-Toxic wipes products, The OPTEC Bio-Mask another highly protective form of facial coverings, often mandated at this time across the country. The company acquired 72% of Z2O the "Uber of Cleaning" technology from Amazon Management, LLC. The company added the 20,000 square feet Scott Street distribution center to the property portfolio. The company finalized the payments in full off toxic convertible notes inherited from previous management. The company filed 2 patents with the USPTO for UVC-Led Integration into Cellphones & tablets, and Integration of Digital Thermal Temperature Scanning technology also integrated into Cellphones & Tablets. Bothe patents are currently filed in Utility application process. The company reported revenues of $6,284,609 for this period.
For the quarter ending December 31st, 2020, the company continued the growth and expansion of the PPE market and introduced the "HYDROXYL" air purification and surface sanitization products utilizing UV-C and Hydroxyl to effectively clean breathable air and simultaneously sanitize surfaces. During this period the company began discussions to expand to an additional distribution center of almost 20,000 sq feet on Keystone Way, Vista, CA. The company's primary income during this period was PPE products due to the nationwide shutdowns of non-essential business operations. The company reported revenues of $11,079,146. During this period.
For the Quarter ending March 31st, 2021, the company remained in the PPE growth sector adding FDA approved Rapid (15minutes) pandemic test kits to the PPE Inventory. The kits became one of the company's leading PPE sellers in the retail market space. The company identified and began interviewing PCAOB audit candidates to assist with the company's reinstatement to "Fully Reporting" status, thereafter with the intent is to uplift to Nasdaq upon meeting the necessary criteria. During this period OPTEC appointed Rafina Innovations OTC: (VICA) as the exclusive Cypress Distributor for all OPTEC product Lines. The company specializes in providing Medical and Over the Counter pharmaceutical products in the region, along with services to Ocean Going Vessels, including Cruise Lines, Cargo and Tanker vessel operators. The company entered into discussions with Assure Global LLC d/b/a We Shield pertaining to a collaboration. Optec reported revenues of $11,576,643. During this period.
For the period ending June 30, 2021, the company consolidated the corporate HQ and main distribution facilities to a combined 50,000 sq feet facility at Park Center Drive Vista. During this period the company acquired controlling interest of the Raffina Innovations Mediterranean distributor. (A publicly traded OTC company).
During this period the company engaged PCAOB auditing company DBB McKennon.
Complete Information for the company's annual period is available at:
https://www.otcmarkets.com/otcapi/company/financial-report/306673/content
About OPTEC International, Inc.
With Locations in Carlsbad and Vista, California, OPTEC International is a developer and manufacturer of the OPTEC Fuel Maximizer products along with electronic LED, Ultraviolet (U.V.) & UV-C safety products and related advanced technologies and PPE (Personal Protection Equipment) products. The company's Temperature Scanning product line is being launched at a time when H.R. 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.optecintl.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.
Investor Relations Contact:
Michael Iorlano
(760) 621-0062 / [email protected]
SOURCE: Optec International, Inc.