Business
Seychelle Reports Earnings for Q1 Period Ended May 31, 2016
Seychelle Reports Earnings for Q1 Period Ended May 31, 2016.
About this update from Seychelle Environmental Technologie
[{"type":"text","content":"\n \n Seychelle \n Water Filtration Products, a DBA of Seychelle Environmental \n Technologies, Inc. (Seychelle, we, us, our or the Company) (OTCQB:SYEV), \n a worldwide leader in the development, assembly and sale of proprietary \n portable water filtration bottles made several announcements today.\n \n \n For Q1 period ended May 31, 2016, Revenue was $899,134 compared to \n $2,347,183 in the prior year, a decrease of $1,448,089 (- 62%). In \n addition, Net Loss of $427,605 was a decrease of $900,103 (-190%) \n compared to the prior year’s Net Income of $472,498.\n \n \n With respect to the new sales initiatives noted above it is difficult to \n give guidance until we see the initial results of our efforts, although \n we are optimistic concerning our prospects beginning in Q2. After the \n reorganization has now settled in, we are moving to a larger facility to \n accommodate the anticipated growth. The objective of our new efforts \n will be to expand the distribution base to minimize the loss of any one \n customer.\n \n \n Based on our sales history with a limited number of customers of the new \n pH20 product line, with both pitchers and bottles which increases the \n alkalinity of tap water to between 8.0 and up to 9.5 pH, we plan to \n aggressively expand this new product line to our other customers due to \n its profitability to the Company.\n \n \n Other new products include the new pocket pump and the standard pump for \n home, travel and disaster preparedness with 100 gallon capacity before \n filter replacement and will be sold domestically through both existing \n and new accounts. In addition, we have a new product, the inline filter \n with a quick disconnect valve, which can be used for hydration packs or \n as a drinking water straw and has military and outdoor sports \n application. These two new pumps and the in-line filter can be used for \n the removal of heavy metals, volatile organic compounds, bacteriological \n contaminants, radiological removal and pH for increased hydration.\n \n \n We anticipate that the new World Advanced Filter Product, for the rest \n of the world where quality drinking water is not available, could \n substantially enhance our sales and earnings impact starting in Q2 due \n to its profitability. To support this new product we will help source \n the bottle and cap. We plan ...