Taronis Provides Summary of Shareholder Town Hall
31 Enero 2020 - 11:00AM
Taronis Technologies, Inc., (“Taronis” or “the Company”)
(NASDAQ: TRNX), a sustainability technologies
company, today hosted an investor town hall teleconference at 10am
EST. The purpose of this call was to provide a detailed update on
key business developments for Taronis Technologies and its wholly
owned subsidiaries, as well as Taronis Fuels, a former subsidiary
with financial ties to the Company. Below is a summary of key
highlights from the call, summarized as follows:
Taronis Fuels:
- Taronis Fuels generated record fourth quarter unaudited,
preliminary revenues of $11 million, compared to $2.0 million in
revenues in the fourth quarter of 2018.
- Taronis Fuels generated record annual unaudited, preliminary of
revenues of $27 million, including the acceleration of $0.9 million
consulting contract and the accrued deposit for $4.7 million under
a 5-unit purchase sale. This represents a significant increase when
compared to $9.7 million in sales reported in 2018.
- Taronis Fuels projects to generate in excess of $50 million in
revenues, scalable EBITDA in 2020 based on 100% organic
growth.
- Taronis Fuels projects to allocate a portion of free cash flows
to common stock buybacks and cash dividends.
- Taronis Fuels has cleared all of the Securities Exchange
Commission open items related to the spin off process.
- Taronis Fuels is now focused on completing the open items
related to the listing process with the remaining regulatory
bodies, with a desired goal to complete this process in the
immediate term.
- Taronis Fuels is still fully focused and on track to proceed
with a potential uplisting application to a national exchange.
- Taronis Technologies continues to support a long term share
buyback plan. In the event the Turkish $165 million contract is
fully executed, an increasing proportion of free cash flows would
be allocated to a corporate share buyback program.
Taronis Technologies and Its
Subsidiaries:
- Taronis Water, a wholly owned subsidiary of Taronis
Technologies has made meaningful progress on a strategic
relationship with one of the largest global hog producers to
positively impact the North Carolina hog waste issue. A second
global leader has been identified for potential parallel
collaboration in additional US markets.
- Taronis Water is to deliver final USDA presentation in
Washington, D.C. on February 12th, creating a path to potential
additional USDA grant opportunities.
- Taronis Water intends to build up to 3 300KW Venturi plasma arc
sterilization units to support multiple potential projects within
the animal waste sterilization industry.
- Water Pilot has successfully completed its next generation
valve technology, and will submit provisional patents in the near
term.
- Water Pilot has accumulated a $200,000 current sales backlog
for January, multi-million-dollar soft backlog of proposals
submitted to prospective clients under an expanded marketing
program with multiple new sales channels.
- Water Pilot forecasts in excess of $2 million in sales for
2020.
- Taronis Technologies has formed a new subsidiary, Taronis
Health to opportunistically target biotechnology investments.
- Taronis Health has acquired a 20% stake in Taurus Therapeutics,
an immuno-oncology biotechnology company developing new drugs that
target immunosuppressive adenosine in the tumor microenvironment
(TME) for the treatment of resistant cancers.
- Taronis Health also owns an additional warrant to acquire an
additional 13.3% of Taurus up until an initial public offering
(IPO).
- Taurus is actively preparing for an IPO as early as before
year-end 2020.
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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