Business
OriginClear Announces Close To Six Times Revenue Increase in 2015
OriginClear Announces Close To Six Times Revenue Increase in 2015.
About this update from Originclear, Inc.
[{"type":"text","content":"\n \n OriginClear \n Inc. (OTC/QB: OOIL), \n a leading provider of water treatment solutions, today announced that \n its annual 10-K \n filing revealed that overall revenue had increased by nearly six \n times, year over year, to $954,470 (from $166,195). The fourth quarter \n contribution from its October 1, 2015 acquisition, Progressive \n Water Treatment (PWT), was $773,699.\n \n \n PWT generated revenue of $5,335,506 of which $4,831,788 was recognized \n in 2015, with the balance of $503,718 expected to be recognized in 2016.\n \n \n While most of the good news came from PWT in 2015, the OriginClear \n Technologies division did well too, securing a joint venture licensing \n agreement totaling $1,000,000, of which $150,000 was received in 2015 \n (but not yet recognized) with an $850,000 balance expected in the first \n half of 2016.\n \n \n “We feel we are at a turning point in the company,” said Riggs \n Eckelberry, OriginClear CEO. “Not only did our technology division \n begin to generate income, the division expects to be self-sustaining in \n 2016. And we are very happy that our acquisition policy is already \n generating tangible revenues.”\n \n \n Follow us on Twitter\n \n \n Like us on Facebook\n \n \n Signup for our Newsletter\n \n \n About OriginClear, Inc.\n \n \n OriginClear is a leading provider of water treatment solutions and the \n developer of a breakthrough water cleanup technology serving the rapidly \n growing $500 billion world market. Through its wholly owned \n subsidiaries, OriginClear provides systems and services to treat water \n in a wide range of industries, such as municipal, pharmaceutical, \n semiconductors, industrial, and oil & gas. To rapidly grow this segment \n of the business, we strategically acquire profitable and well-managed \n water treatment companies, which allow us to expand our global market \n presence and technical expertise. To enable a new era of clean and \n socially responsible water treatment solutions, we invented Electro \n Water Separation™, a breakthrough high-speed water cleanup technology \n using multi-stage electrolysis, that we license worldwide to water \n treatment equipment manufacturers. Water is our most valuable resource, \n and the mission of the “Family of OriginClear Companies” is to improve \n the quality ...