NEW YORK, Dec. 9, 2020 /PRNewswire/ -- The current pandemic has been devastating for the global economy and has caused severe backlogs in hospitals. Additionally, a spike in demand for Personal Protective Equipment (PPE) and new disinfecting technologies has also been seen. For example, when it comes for PPE, the global market was valued at USD 52.7 Billion in 2019 and is expected to reach USD 92.5 Billion by 2025 while growing at a CAGR of 8.7% during 2020-2025, according to VynZ Research. As for new technologies for disinfection, a recent example comes from LG Electronics, which announced on Wednesday the launch of a disinfection robot that will assist in containing the spread of the virus. The robot, called the LG Cloi Disinfectbot, will be equipped with ultraviolet-C (UV-C) lamps on its sides, according to ZDNet. Optec International, Inc. (OTC: OPTI), Dynavax Technologies Corporation (NASDAQ: DVAX), NovaBay Pharmaceuticals, Inc. (NYSE: NBY), BioSig Technologies, Inc. (NASDAQ: BSGM), Chembio Diagnostics, Inc. (NASDAQ: CEMI)
New innovative disinfection technology can be implemented across many industries, which in many cases will help companies to resume their operations. This is why Norwegian Cruise Line recently reported that it had partnered with AtmosAir Solutions to install continuous disinfection air purification systems across its 28-ship fleet for its three brands, Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises. According to the company, tests performed by Microchem Laboratory, one of the world's preeminent laboratories for testing EPA- and FDA-registered sanitizing products, confirmed that the presence of the coronavirus was reduced by 99.92% within 30 minutes of exposure to AtmosAir.
Optec International, Inc. (OTC: OPTI) just reported a shareholder update letter according to which, "The Company has grown tremendously over the year as evidenced by the increase in revenues, and we believe we are well positioned to continue to deliver value for our shareholders. Some of the developments we would like to highlight and update the shareholders on include:
We closed a $5,000,000 funding deal with RB Capital Partners, Inc., creating a solid financial foundation for growth in the coming year. As of today, RB Capital has funded $4,600,000 of the $5,000,000 deal with Optec. The primary use of funds has been for the iWandä production and distribution in addition to financing the PPE deal. The funding partnership not only signifies the support of a long-term financial partner, but also indicates that we have paid off all other harmful debt. The investment money provided by RB Capital is completely non-toxic, non-dilutive and is in the best interest of the Company and the shareholders as the it has a fixed conversion price of $0.70 per share.
The company is finalizing the logistics portion of the recent $2B PPE purchase order and is anticipating completion by the end of the month. It is expected that the revenue portion of this transaction will be reported on the December 31, 2020 quarterly report.
We surpassed our previous quarter's income and revenue by over 600% for the period ending September 30, 2020. The Company surpassed its $4,000,000 projection for the quarter ending September 30th and, in fact, showed revenue and income totaling $6,284,609 and a net income of $3,381,730. In addition, the Company has paid in full all previous convertible institutional notes and the interest and liabilities associated with those notes. We project an increase in revenue over last quarter for Q4.
We signed an exclusive distribution deal with the country of Greece for the Optec UV, UV-C, and other North American Distributors for the company's PPE product lines. We continue to provide and ship our products to distributors on a regular basis.
We signed contracts with several large retail outlets for the sale of our UV-C product line. We understand that the public is eager to know the specific names of these retails, but at this time we are contractually bound from releasing those names. We will soon be able to release this information to the public and look forward to doing so.
Optec International, Inc.'s Fuel Maximizer Product Line. The company continues to manufacture, promote, and sell the fuel maximizer product line nation-wide.
Optec appoints Dr. Drew Pinsky, nationally known television, radio, and podcasting host and New York Times bestselling author as Brand Ambassador. Dr. Drew will help to open up increased distribution opportunities. We announced a new agreement with Vinco Ventures, Inc. (NASDAQ:BBIG) On December 3, 2020 for the distribution of our iWand and the Hydroxyl Portable Air Sterilizer.
We have successfully launched our Touchless Safe- Scanners and Rovers within several different school districts. To date, we have implemented our Touchless Safe-Scanners and Rovers to both local and nationwide school districts. It remains to be seen when all schools will be given the green light to fully re-open, but we have strong relationships with several school districts around the country to be able to ship more product and enable a safe re-open when allowed.
The Harrington Group is launching a nation-wide Campaign for the iWand. Kevin Harrington and his group will be launching their own social media campaign marketing the iWand to their network and beyond. This campaign coupled with the promotional billboards around Los Angeles will continue to increase market awareness for this product.
Forecast and Outlook for 2021. We plan on uplisting to the QB in the beginning of Q1 and have already started the process. We also plan on applying for Penny Stock Exempt status as we will soon meet the criteria. Based on our current growth, we anticipate the Company will be preparing for an uplist to the Nasdaq at some point in the later part of 2021 or early 2022 as we currently meet many of the requirements for that exchange. Optec also expects that revenues will continue to exceed all expectations as several other large PPE deal are going to be completed in 2021."
For our latest "Buzz on the Street" Show featuring Optec International, Inc., Ltd. recent corporate news, please head over to: https://www.youtube.com/watch?v=0C5yslrdjlY&ab_channel=FinancialBuzzMedia
Dynavax Technologies Corporation (NASDAQ: DVAX), Biological E. Limited and Baylor College of Medicine, a health sciences university in Houston, TX, announced on November 16th that BE has initiated a Phase I/II clinical trial of its COVID-19 subunit vaccine candidate in India following approval from the Drugs Controller General of India (DGCI). "The transition of our vaccine candidate into human trials is an important milestone, and exemplifies a successful transfer of technology with BE, that could lead to a safe, effective and affordable vaccine," said Dr. Maria Elena Bottazzi, associate dean of the National School of Tropical Medicine at Baylor College of Medicine and co-director of Texas Children's Hospital Center for Vaccine Development.
NovaBay Pharmaceuticals, Inc. (NYSE: NBY) announced on November 23rd, the signing of an agreement with Paragon Care Group Australia Pty Ltd for the exclusive distribution of Avenova in Australia. Paragon Care Group will begin distributing Avenova directly to consumers under its Designs For Vision brand beginning in early 2021. "Avenova fits extremely well with our portfolio of eye care products," said Nikolas Apostolou, General Manager of Designs for Vision. "It is the only commercially available pure hypochlorous acid lid and lash spray proven to be effective in eliminating the underlying cause of bacterial dry eye, yet Avenova is soothing, safe and effective for long-term use. We believe these qualities make Avenova the best product to treat the chronic bacterial infections that affect approximately 85% of all dry eye sufferers. We are thrilled to make this product available to Australians with dry eye disease."
BioSig Technologies, Inc. (NASDAQ: BSGM) announced on October 29th that the Company installed its PURE EP™ System and started conducting patient cases at Deborah Heart and Lung Center in Browns Mills, New Jersey. "Intracardiac signals are the foundation of everything we do in EP, but we can't treat what we don't see. I am impressed by our early experience with PURE EP™ showing more of the cardiac signals we want to see," commented Raffaele Corbisiero, M.D., Deborah Heart and Lung Center.
Chembio Diagnostics, Inc. (NASDAQ: CEMI) announced back in September its initiation of the notification process and submission of an application for Emergency Use Authorization (EUA) to the U.S. Food and Drug Administration (FDA) for its new rapid antibody test system, DPP SARS-CoV-2 IgM/IgG. "We are pleased to have accomplished all of our objectives in the development and validation of the new DPP SARS-CoV-2 IgM/IgG test system," stated Richard Eberly, Chembio's President and Chief Executive Officer. "Submission of the EUA application for this test system has been the top priority for our organization because we understand there is a large need in the market for additional rapid tests – especially ones that offer the ability to decentralize testing locations. We are excited to offer a solution to patients and clinicians across the healthcare system that addresses these needs.
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