Industrial Nanotech Provides 2022 Update

Rhea-AI Summary

Industrial Nanotech Inc (INTK) announced plans for 2022, expecting sales growth driven by its products. Sales of EnergyProtect in Italy under the Superbonus 110 program are projected to reach $19 million annually, while EU sales under the Energy Performance of Buildings Directive could hit $45 million. The new product TalkingPaint aims for $30 million in annual sales with a 15% market share. A manufacturing facility is planned in South Carolina, and the company is preparing for potential uplisting to senior exchanges in 2023.

Positive

• Expected sales of EnergyProtect in Italy could reach $19 million annually by the end of 2022.
• Projected EU sales for EnergyProtect under the Energy Performance of Buildings Directive could grow to $45 million annually.
• TalkingPaint aims for $30 million in annual sales and a 15% market share.
• Plans for a manufacturing facility in South Carolina, with sales expected to begin in Q2 2022.
• Preparation for potential uplisting to NASDAQ or NYSE in 2023.

Negative

• None.

BROOMFIELD, Colo., Dec 21, 2021 /PRNewswire/ -- Industrial Nanotech Inc, (Pink Sheets: INTK) CEO/CTO Stuart Burchill provides update.

1) The Company expects sales of EnergyProtect to Italy under the Superbonus 110 program to begin Q1 2022. The Company's distributor in Italy anticipates that sales could grow to nineteen million dollars US annually by the end of 2022.

2) The Company expects sales of EnergyProtect for the EU under the European Union sponsored Energy Performance of Buildings Directive to begin Q1 2022. The Company's distributors in the EU anticipate that sales could grow to forty five million dollars US annually by the end of 2022.

3) The Company expects sales of their new product, TalkingPaint, their new smart coating product line, to begin by the end of Q1 2022. The Company intends to capture 15% of the potential market by the end of 2022, which could produce sales of thirty million dollars US annually.

4) The Company plans to establish a manufacturing facility in South Carolina for their new self reporting insulation for pipes. The Company anticipates sales to begin in Q2 2022.

5) The Company is preparing for uplisting to more senior exchanges, including having PCAOB audited financials for 2021 and 2020. The Company confirms that there is no plan for a reverse split while the Company remains on OTCMarkets. If Company's uplists to either NASDAQ or NYSE the Company would rely on advice of legal counsel and financial advisors regarding a possible capital structure revision. Timeline for application to uplist to NYSE or NASDAQ is 2023. The Company will be focused primarily on revenue 24/7 during 2022.

About Industrial Nanotech, Inc.

Industrial Nanotech Inc. is a global nanoscience solutions and product development leader.

See www.industrial-nanotech.com for more information.

Safe Harbor Statement

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.

View original content to download multimedia:https://www.prnewswire.com/news-releases/industrial-nanotech-provides-2022-update-301449268.html

SOURCE Industrial Nanotech, Inc.

FAQ

What are Industrial Nanotech's sales expectations for EnergyProtect in Italy for 2022?

Industrial Nanotech expects sales of EnergyProtect to reach $19 million annually in Italy by the end of 2022.

How much revenue is anticipated from EnergyProtect sales in the EU for 2022?

Sales of EnergyProtect in the EU are anticipated to grow to $45 million annually by the end of 2022.

What is the market target for the new product TalkingPaint in 2022?

TalkingPaint aims to capture 15% of the market, potentially generating $30 million in annual sales.

When does Industrial Nanotech plan to start sales from its new manufacturing facility in South Carolina?

Sales from the new manufacturing facility in South Carolina are expected to begin in Q2 2022.

When is Industrial Nanotech planning to uplist to a senior exchange?

Industrial Nanotech is preparing for an uplisting to NASDAQ or NYSE in 2023.