CEO says, "2022 is about taking the groundwork we have put in place and scaling it rapidly."
LAS VEGAS, NV / ACCESSWIRE / January 24, 2022 / Triad Pro Innovators, Inc. (OTC PINK:TPII) is pleased to provide an update to its shareholder outlining the company's achievements over the past year, and giving an outline of its plans for 2022.
2021: A Year in Review
Summarizing the year, company CEO Murray Goldenberg said, "2021 was a pivotal year for us, and our major goal was to put in place the pillars needed to support the expansion of our company over the coming year."
"Achieving this meant focusing on three critical aspects: our intellectual property, product development and company finances while protecting our shareholder value. Each of these is vital in giving us the ability to both expand revenue-generating operations and to raise additional capital when and if needed. I'm pleased to say that we've managed to create some terrific outcomes here."
1) Research and Development
A focus for the company in 2021 was research and development work. This work took place on two fronts: intellectual property and product development.
This saw the ongoing improvement of the company's revolutionary Triad Pro eCell, an energy storage system that offers several advantages over traditional lead-acid and lithium-ion batteries. The eCells benefits include ultra-rapid charging; stability in extreme temperatures; 30,000+ charge cycles; 100% recyclable materials, and; immunity from fire and explosion risks.
The culmination of this work led to multiple developments on the product side, including an improved 2022 SPREE golf cart featuring an enhanced battery life. The company also launched two new products-the eTower and the EEL Diesel Hybrid Genset-and commenced engineering work to develop an energy storage solution leveraging eCell technology for a 100-megawatt crypto mining facility.
2) Bolstering Financial Foundations
"One of our top priorities in 2021 was to shore up the company's finances to provide the foundation needed for our rapid expansion plans that will play out this year," said Murray Goldenberg, Chief Executive Officer of Triad Pro Innovators, Inc. To this end, the company undertook several initiatives targeted at reducing debt and raising additional capital while protecting shareholder value.
The first of these initiatives was the conversion of $270,000 of outstanding debt and accounts payable into shares of the company's common stock. This was achieved via a transaction conducted under a Section 3(a)(10) exemption from the Securities Act of 1993.
With the completion of the transaction and the elimination of debt complete, the company was then able to consider fundraising options. This concluded in the filing of a Regulation A public offering, with the proceeds primarily allocated towards the purchase of inventory and the expansion of manufacturing facilities; the establishment of product marketing programs, and; the support of the company's ongoing research and development program.
3) Protecting Shareholder Value
Throughout all this, the company also took action to protect shareholder value. Speaking at the time, Goldenberg stated, "After reviewing the company's business plan for 2021, it became apparent that, in the effort to protect shareholder value, it was in all our best interest to reduce Authorized Shares significantly." This saw a reduction in the company's authorized stock, down to 500MM shares of common stock; half of the previously authorized one billion.
The company also introduced a non-dilutive founders' preferred series. Goldenberg said at the time, "We are introducing an initially non-dilutive preferred series to the founders, in lieu of a dilutive stock offering, and felt the share structure could be greatly reduced. Given the immediate positive market reaction from the release of our revolutionary eTower and stated volume interest, it was easy to provide this value back to the shareholders."
2022: The Year Ahead
"2021 was a big year for us, the fruits of which will become apparent over the next six to twelve months," said Murray Goldenberg. "We have a rock-solid foundation in place now, with an improved financial footing and initial seed interest in our new product developments. 2022 is now about taking the groundwork we have put in place and scaling it rapidly," he continued.
"Parallel to this, we also need to ensure we deliver on our promises, which means our first focus of the year is to deliver prototype EEL Genset units. We also intend to expand our Las Vegas manufacturing facility to ensure we can fulfill all orders from our SPREE distributor, as well as our company-owned retail outlet planned for later this year."
Scaling Manufacturing, Sales, and Marketing
In 2021, TPII secured its first SPREE distribution deal with Phoenix-based San Tan Golf Carts and completed delivery of the first units. The company is now focused on expanding its Las Vegas manufacturing facility to meet expected demand.
Murray Goldenberg said, "Our plan is to build out the Vegas facility to produce 100 golf cars per month by the end of this year. To capitalize on this capacity, we will also launch an extended marketing campaign around the SPREE golf cart, and also open our own retail outlet, either in Palm Desert, CA or Phoenix, AZ."
Scaling Triad Pro eCell Technology
A major development for the Triad Pro eCell in 2021 was the announcement of a collaboration between TPII and One World Ventures, Inc. (OTC PINK: OWVI) for the onshoring of Chinese crypto mining operations. The venture will see TPII complete engineering work on an energy storage solution for a 100-megawatt facility that can deliver access to a stable supply of electricity at globally competitive rates.
Engineering work on this development commenced in December last year, thus will remain a major priority coming into this year. Additionally, Goldenberg adds, "The company also intends to continue to research and develop scalability of the eCell for other opportunities beyond just cryptocurrency mining."
Scaling Market-Leading Power Products
The company launched two new power products in 2021, first with the introduction of the eTower portable lighting solution, followed by the EEL Diesel Hybrid Genset. The EEL Genset, in particular, captured industry attention, with Gary Potter V.P of Frontier Power Products saying, "The industry is in desperate need of the EEL Diesel Hybrid Genset technology and, with a positive demonstration of its capabilities, we see a significant shift from the legacy power generation and storage technology to the Triad Pro EEL Diesel Hybrid Genset."
With solid industry interest, the first priority of 2022 is to deliver prototype units to companies that attended EEL Genset demonstrations, which included Syncrude, Ledcor Group, and Ekati Mines, amongst others.
Following this, TPII's main priority is to engage Frontier Power Products as an OEM for the EEL Genset. The company is also considering several other companies as OEMs and will also consider expanding on the number of EEL Diesel Hybrid Genset models available, dependent on demand and supply chain issues.
About Triad Pro Innovators, Inc. (OTC PINK:TPII):
Triad Pro Innovators, Inc. has developed a proprietary device to be utilized in a variety of circumstances to store electricity. The newly developed Triad Pro power supply provides our storage system with tremendous operational flexibility. Using our propriety hardware and software solution, our eCell can be configured to store energy at a rate limited only by the network providing it, and then release that energy in a regulated way based upon the application, which allows for flexibility unknown in current chemical battery-based storage systems. Triad Pro creates and designs renewable energy solutions including Co-Generation and the patent pending eCells that can be used stand alone or modular as energy demands increase.
FORWARD-LOOKING STATEMENTS
The statements contained in this release that are not historical facts are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "could," "should," "expect," "plan," "project," "intend," "anticipate," "believe," "estimate," "predict," "potential," "pursuant," "target," "continue," and similar expressions are intended to identify such forward-looking statements. The statements in this press release that are not historical statements, including statements regarding TPII's plans, objectives, future opportunities for TPII's services and products, future financial performance and operating results and any other statements regarding TPII's future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance that are not historical facts, are forward-looking statements within the meaning of the federal securities laws. These statements are not guarantees of future performance and are subject to numerous risks, uncertainties, and assumptions, many of which are beyond TPII's control, and which could cause actual results to differ materially from the results expressed or implied by the statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict, and include, without limitation, results of litigation, settlements and investigations; actions by third parties, including governmental agencies; volatility in customer spending; global economic conditions; ability to hire and retain personnel; loss of, or reduction in business with, key customers; difficulty with growth and integration of acquisitions; product liability; cybersecurity risk; anti-takeover measures in our charter documents; and, the uncertainties created by the ongoing outbreak of a respiratory illness caused by the 2019 novel coronavirus that was recently named by the World Health Organization as COVID-19. These and other important risk factors are described more fully in our reports and other documents filed with OTC Markets Group in satisfaction of the company's obligations as an alternative reporting company. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to us on the date hereof. Except as otherwise required by applicable law, we undertake no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.
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SOURCE: Triad Pro Innovators, Inc.