Our strategy of applying company strengths to meet market needs continues to yield positive results in terms of sales and profitability, which is evidenced by continued revenue growth and profitability. Blast freezers and chiller sales remain strong.
We have now successfully uplisted to the OTC QB, i.e., a mid-tier OTC equity market which lists primarily early-stage and developing companies that should provide us with improved exposure and investor confidence through verifiable information.
In terms of new opportunities, we now have a patent pending for using our temperature control technology in green applications to eliminate the use of HFC’s in household and institutional refrigeration, freezing, and air conditioning. We have demonstrated that our technology can be applied to convert existing systems or manufacture new cost-effective installations in terms of capital and operating costs. This initiative aims to offer a green solution for the replacement (elimination) of hydrofluorocarbons (HFCs) currently used as refrigerants. HFCs are greenhouse gases commonly used in industrial refrigeration and air-conditioning applications, also in millions of households and institutions in the
We have also developed patented know-how that can be used for point-of-use temperature control in a contained mobile format. For example, be used to remove heat during Bitcoin mining operations.
Cold chain management continues to be a significant opportunity for us since our technology is capable of controlling payload temperatures anywhere from ambient down to 160 degrees centigrade below zero and can run off the grid for long periods. We have built and demonstrated an air freight system based on a direct customer request and have several pending inquiries for our temperature-controlled over-the-road reefer transportation system. Interestingly, more than 350,000 reefers are in operation today that still use diesel-driven refrigerant compression.
We continue to invest in R&D and remain very optimistic regarding RSI’s future based on our company’s competitive position. We have proven, patent-protected technology applicable in various industrial applications, many of which are in an emerging or growth environment or have unmet needs in large existing markets that our products can exploit.
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Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are not a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainties and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of the disclosures contained in the filings of the company that are contained in the
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ContactThomas Tait 801-607-1039 investor_relations@reflectscientific.com
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