Kelso Technologies Inc. - KIQ STOCK NEWS

Kelso Technologies (KIQ) has announced significant progress in its KXI™ Wildertec™ Heavy Duty Suspension project through its subsidiary, KIQ X Industries. The company has secured partnerships with Vector Truck Designs and Kinetic Drive Solutions to develop a regulatory-compliant prototype. Vector will manage mechanical components, while KDS will create an integrated suspension control system. The completed prototype is anticipated by Q2 2022, aiming to meet market needs for efficient wilderness transportation. Despite supply chain challenges, these collaborations signal a strong commitment to innovation and safety in the automotive sector.

Kelso Technologies Inc. (NYSE American: KIQ) reported its financial results for the nine months ending September 30, 2021. The Company generated revenues of $5.43 million, a decline from $9.75 million in the same period in 2020. Gross profit was $2.25 million with a gross profit margin of 41%, down from 44% in 2020. Adjusted EBITDA showed a loss of $1.20 million. However, working capital improved to $9.14 million due to a successful equity placement of 7 million units in March 2021. The Company anticipates a gradual recovery in business volumes in 2022, driven by new product offerings and anticipated growth in the tank car market.

Kelso Technologies (NYSE MKT: KIQ) announced the final certification of its pressure relief valve (PCH) by the Association of American Railroads (AAR), following extensive field trials. The PCH is designed for rail pressure cars, part of a market with over 85,000 pressure cars in North America. This certification opens doors for significant revenue opportunities. Key advantages of the PCH include its patented design, quick delivery, and enhanced reliability. Kelso aims to expand its market presence with this product and related offerings, targeting new revenue streams.

Kelso Technologies (KIQ) announced the successful completion of the design, engineering, and regulatory testing of two essential truck tanker equipment components: a pressure/vacuum relief valve (PVR) and a one-bolt manway (OBM). These products comply with DOT regulations and are aimed at enhancing safety and efficiency in commodity transport. The OBM and PVR are expected to create multi-million-dollar revenue opportunities and are now ready for full market distribution, with marketing initiatives already in progress.

Kelso Technologies (NYSE American: KIQ) reported its unaudited financial results for the six months ended June 30, 2021. Revenues decreased to $3,335,838 from $8,167,966 in 2020. Gross profit also fell to $1,402,807 with a gross profit margin of 42%, down from 45%. Net loss was $1,194,333, versus a profit of $1,028,867 last year. Cash reserves improved significantly to $3,952,180 compared to $1,049,049 at year-end 2020. The company anticipates a gradual recovery in the rail market and is preparing for post-pandemic growth.

Kelso Technologies Inc. (KIQ) reported the results of its Annual General and Special Meeting on June 3, 2021. A total of 16,340,726 common shares were voted, representing 30.11% of the outstanding shares. All proposed directors were elected, with varying percentages of votes in favor. The company reappointed Smythe, LLP as auditors and approved the 2021 Restricted Share Unit Plan and the 2020 Non-Employee Director Share Deferred Shared Unit Plan. Key officers appointed include James R. Bond as CEO and Richard Lee as CFO.

Kelso Technologies reported its unaudited financial results for Q1 2021, showing a significant revenue decline to $1,220,487 from $5,643,428 in Q1 2020. The gross profit also fell to $453,517, representing a gross margin of 37%, down from 46%. The Company recorded an EBITDA loss of $687,848 and a net loss of $800,113, translating to a basic loss per share of $0.02. Despite these challenges, liquidity improved with cash reserves of $4,522,725 and total assets rising to $15,806,499. Management is optimistic about future prospects, citing anticipated growth in the rail tank car market.

Kelso Technologies Inc. (NYSE American: KIQ) has filed its 2020 annual report on Form 20-F with the SEC, which includes management analysis and audited financial statements for the year ended December 31, 2020. This report is accessible on the company’s website and the SEC’s website. Additionally, the Annual Information Form has been filed with Canadian regulators and is also available online. Kelso is recognized for its innovative rail tank car valve equipment designed to enhance safety and reduce environmental risks during transport.

Kelso Technologies Inc. (KIQ) reported its consolidated financial results for 2020, revealing a significant decline in revenues to $11.15 million, down 46% from 2019. Gross profit fell to $4.79 million, and the company incurred a net loss of $1.31 million. Operating expenses decreased slightly by 5%. Cash reserves dwindled to $1.05 million from $4.42 million in the prior year, while working capital also declined to $6.25 million. Despite these challenges, Kelso secured new equity capital in March 2021, aimed at maintaining operations and preparing for post-pandemic growth in the rail tank car industry.