Taronis Provides Fourth Quarter Sales Update
17 Diciembre 2019 - 8:30AM
Taronis Technologies, Inc., (“Taronis” or “the Company”) (NASDAQ:
TRNX), a sustainability technologies company, today announced
sales results for October and November of 2019. October sales were
$2.0 million, representing an 87% increase as compared to the $1.1
million in revenues reported in same period in the prior year. In
November, the Company generated $2.4 million in sales, representing
a 122% increase as compared to the same period in the prior year.
Factors for the growth are as follows:
In Texas, sales were $0.93 million in October,
representing a 234% increase from the same period in 2018. October
is typically one of the strongest retail months in the industrial
gas industry, with 23 sales days. In November, sales were $0.62
million, representing a 53% increase over the prior year. November
and December are normally slower months in the industry, with a
seasonal decrease in retail demand during the holiday season. There
were only 19 retail sales days in November, which heavily impacts
sales figures from month to month.
In California, October sales were $0.75 million,
representing a 50% increase as compared to the prior year. In
November, sales were $0.61 million, representing a 43% increase
versus November 2018. In Florida, sales rebounded sharply to $0.32
million, representing the first time sales were over $0.3 million
since April of 2019. The newly launched fill plant in Clearwater
has contributed to season strength in sales. November sales were
$0.27 million slightly above the same period in 2018.
In November, the Company also recognized $0.92
million from a consulting agreement with a hydrogen fuels company
based in northern Germany. This contract is now complete. The
Company has entered into additional dialogue to determine if there
are further opportunities to leverage its hydrogen production from
the patented submerged plasma arc gasification technology to expand
the commercial relationship beyond this initial contract.
“We are off to a very solid start to the fourth
quarter,” commented Scott Mahoney, CEO of Taronis. “The consulting
contract had a significant impact on both top line growth and our
overall profitability for November. With margins well in excess of
50%, the consulting agreement put the Company at near break
even.”
“We now project that once the initial 5 unit
order from Turkey is executed, December revenues should exceed $6
million and make the fourth quarter our first profitable period in
Company history. This is a major accomplishment for the entire
team, and we are looking forward to accelerating our business model
as we enter 2020,” concluded Mr. Mahoney.
About Taronis Technologies,
Inc.
Taronis Technologies, Inc. (TRNX) owns a
patented plasma arc technology that enables two primary end use
applications for fuel generation and water decontamination. The
Company holds a 7% royalty on the global use of its fuel generation
intellectual property. The initial commercialized renewable fuel
product license is disrupting an $8 billion global metal cutting
fuel market.
The Company’s technology can also be implemented
for the decontamination of waste water, including sterilizing
water, eradicating all pathogens. The technology is being tested to
determine if it can completely eliminate pharmaceutical
contaminants such as antibiotics, hormones and other soluble drugs
suspended in contaminated water. Lastly, the technology process is
capable of reducing or eliminating other contaminants, such as
harmful metals, as well as nitrogen, phosphorus, and potassium
levels. The technology has prospective commercial applications in
the agricultural, pharmaceutical, and municipal waste markets. For
more information on Taronis, please visit the Company's website at
http://www.TaronisTech.com/
Taronis also owns a controlling interest in
Water Pilot, LLC. The WATER PILOT® System immediately reduces water
consumption and provides you with live remote consumption
monitoring for long term leak protection and water asset
management. An integral, client based alarm and notification system
that reports to any mobile device. Water Pilot may be appropriate
for a wide range of businesses or properties with a water meter.
For more information, please visit our website at
www.gowaterpilot.com/
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking
statements as defined within Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. These statements relate to future events,
including our ability to raise capital, or to our future financial
performance, and involve known and unknown risks, uncertainties and
other factors that may cause our actual results, levels of
activity, performance, or achievements to be materially different
from any future results, levels of activity, performance or
achievements expressed or implied by these forward-looking
statements. You should not place undue reliance on forward-looking
statements since they involve known and unknown risks,
uncertainties and other factors which are, in some cases, beyond
our control and which could, and likely will, materially affect
actual results, levels of activity, performance or achievements.
Any forward-looking statement reflects our current views with
respect to future events and is subject to these and other risks,
uncertainties and assumptions relating to our operations, results
of operations, growth strategy and liquidity. We assume no
obligation to publicly update or revise these forward-looking
statements for any reason, or to update the reasons actual results
could differ materially from those anticipated in these
forward-looking statements, even if new information becomes
available in the future.
For a discussion of these risks and
uncertainties, please see our filings with the Securities and
Exchange Commission. Our public filings with the SEC are available
from commercial document retrieval services and at the website
maintained by the SEC at http://www.sec.gov.
Investor Contacts:Michael KhorassaniIR@TaronisTech.com
Taronis Technologies (NASDAQ:TRNX)
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