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SALT LAKE CITY, Feb. 04, 2019 (GLOBE NEWSWIRE) -- EnviroTechnologies International, Inc. (ETI), a publicly traded company (OTC Pink, Symbol: ETII) that develops and markets green, natural and organic products for diverse industries, including the newly emerging CBD, hemp and cannabis Industry, today reported estimated 2018 revenues and First Quarter equipment orders under contract.
“We expected 2018 to be, primarily, a research and development year as we completed design and technical upgrades to our proprietary and patent-pending machines that produce electrolyzed oxidative fluids (EO Equipment), used by our customers in the carpet-cleaning, agriculture, food service and other related and unrelated industries. We anticipated contracts on or new EO Machines to begin Second Quarter 2019,” said Gaylord Karren ETI’s President. “With over $300,000 spent on R&D in 2018 alone, we felt that our equipment designs and technological innovations were state-of-the-art and our customers would be ready to implement them in their businesses. We were surprised and delighted to recognize revenues in 2018 of $372,697; however, by year end, we had contractual orders for over $500,000 to be filled in First Quarter, 2019.”
“During this last month, we have received great interest in our EO Equipment and have signed more purchase orders,” said Randall Waters, ETI’s Vice President, Sales & Marketing. “First Quarter, 2019 revenues will be approximately $605,000 and contracts for Second Quarter, 2019 are expected to be $885,000.”
“We are particularly excited about the acceptance of our EO Machines and equipment in the agriculture world – with the apple farms in the northwest and the emerging CBD, cannabis industry,” said Waters. “There are literally thousands of apple, cannabis and fruit farmers in the US that will benefit greatly from our proprietary technology, which will help them retain a much greater crop harvest and achieve higher yields by sanitizing their crops and eliminating dangerous and yield-stunting fungal and bacteria, particularly in the CBD, hemp and cannabis farming.”
“Finally, as we prepare to execute our business plan in 2019, we are keenly aware of our shareholders and the sacrifices they make to support our company,” said Karren. “In order to maintain transparency in the marketplace, we will regularly report on our share float (approximately 6.5 million shares in the float at this time) and will be diligent in keeping our share structure low so that all shareholders will recognize incremental value in their shares as our company grows and succeeds in executing its business plan.”
About EnviroTechnologies International, Inc.
EnviroTechnologies International is a publicly listed company that develops and markets proprietary, synergistic products for the oil and gas and agriculture industries as well as wellness products. The company’s products are safe, natural, and non-toxic and “green” products for industries that often show little concern for the environment but are now feeling the social and governmental need to go "green." The company’s completely green and natural products are proprietary, unique and highly effective innovations to its target markets. As from the beginning of 2019, the Company intends to introduce its proprietary technology to the new emerging multi-billion dollar CBD, hemp cannabis market which was legalized on a Federal level as recently as December 2018.
For more information visit our website at www.enviroti.com. Our Twitter Account is @enviroti.
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