Loading, Please Wait...
Cambridge, MA, April 18, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- IIOT-OXYS, Inc. (OTCPink: ITOX): IIOT-OXYS, Inc. this week announced financial results for its fiscal year ended December 31, 2018.
Mr. Clifford Emmons, Chairman and Chief Executive Officer, stated, "2018 marked a year of substantial progress in our commercialization efforts. We continue to see large interest in our Minimally Invasive Load Monitoring (MILM) technology with key decision-makers and end-users. With a follow-on contract with a major pharmaceutical company recently announced, our monitoring system continues to meet all of its performance requirements. Throughout 2018, we aggressively pursued our markets and business opportunities by engaging market experts and expanding business development activities.
“Last month we announced the closing of a capital raise, all of which allows us to support the current contracts and prospective deals we were working on and initiating throughout 2018,” continued Mr. Emmons. “We are continuing our efforts that were initiated in 2018 by implementing an aggressive sales and marketing campaign that will provide us with unique opportunities throughout many different markets.”
Fiscal Year 2018 Financial Highlights:
SIGNIFICANT ACCOMPLISHMENTS IN 2018:
A new management team was put into place in 2018. After the new team took over, the following significant accomplishments were achieved:
Mr. Emmons concluded, "We are excited by our commercial progress and the strong positive market feedback we have been receiving about the need for our technology. We are discussing new opportunities with potential customers as part of our business development and commercialization efforts. We are encouraged by the opportunities in our target markets, which we believe can derive significant benefits to customers by providing real-time data and solutions. Although we are pleased with our 2018 sales, we are focused on growing the business by expanding in every facet of the business. We expect 2019 growth to continue at or above 2018 rates, and we are aggressively pursuing capital funding that will fuel expansion of our operations to sustain that growth."
IIOT-OXYS, Inc. uses a variety of sensors to capture and analyze massive amounts of data using Machine Learning and proprietary algorithms to identify discrete patterns and anomalies which can be associated to specific real-world events and used to provide actionable mission critical insights for the Medical/Pharmaceutical, Manufacturing, Agriculture, Defense, and Structural Health, and other industries. IIOT-OXYS, Inc. edge computing open-source hardware and proprietary ML algorithms employ our Minimally-Invasive Load Monitoring (MILM) technology to simply gather data and gain insights to monitor, scope, move from preventive to predictive maintenance, and even optimize development and manufacturing processes. For additional information visit www.oxyscorp.com
This news release contains forward-looking statements that reflect Management's current views about future events and financial performance. Forward-looking statements often contain words such as ''expects,'' ''anticipates,'' ''intends,'' or ''believes.'' Our forward-looking statements are subject to a number of risks and uncertainties that may cause actual results and events to differ materially from those projected in the forward-looking statements. Risks and uncertainties that could adversely affect us include, without limitation, the loss of major customers, our failure to obtain new contracts, our inability to patent products or processes, our infringement of patents held by others, our inability to finance our business and the other risks and uncertainties that are discussed in our most recent filings with the Securities and Exchange Commission. The forward-looking statements in this news release are made only as of the date of this news release. We undertake no obligation to update our forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Relations Contact: