Welcome to our dedicated page for Optec Internatio news (Ticker: OPTI), a resource for investors and traders seeking the latest updates and insights on Optec Internatio stock.
Optec International (OPTI) provides innovative fuel optimization solutions for transportation and industrial sectors. This news hub offers investors and industry professionals centralized access to official corporate updates and market developments.
Track verified press releases covering product innovations, operational milestones, and strategic initiatives. Our curated collection includes earnings announcements, partnership disclosures, and technology updates essential for understanding OPTI's position in fuel efficiency markets.
Key content focuses on:
- Product launches across vehicle and equipment segments
- Operational updates reflecting corporate restructuring
- Market expansion efforts in North America and international territories
- Technical developments in fuel maximizer technology
Bookmark this page for direct access to OPTI's evolving corporate narrative, with all materials vetted for accuracy and relevance to investor decision-making.
Optec International Inc. (OTC: OPTI) new CEO Gregg Boehmer has issued a shareholder update outlining his plans to address the company's current challenges. The company is currently working to regain active status on OTCIQ and return to Pink Current status. The company is facing insolvency due to previous management's actions.
Boehmer is collaborating with a receiver, accountants, and a new legal team to reconstruct accurate financial statements for the past two years. The CEO indicated potential civil legal action and possible involvement of the State's Attorney's Office and SEC regarding previous management's activities. A merger candidate remains in discussion, though multiple preliminary steps need to be completed before any potential transaction.
OPTEC International, Inc. (OTC PINK:OPTI) reported a significant surge in inquiries for its Fuel Maximizer products, attributed to rising global fuel prices. The company is engaging in discussions with various fleet operators domestically and internationally. The Fuel Maximizer, compliant with six executive orders from California Air Resources Board, enhances engine performance while reducing emissions and fuel consumption. Testing has shown savings between 7% and 35%. The product boasts a zero-failure rate over 1 million miles across diverse vehicles.
OPTEC International, Inc. (OTC PINK:OPTI) reported a significant 28% increase in the value of its Rancho Santa Fe property, purchased for $2,500,000 in June 2021. The current market value exceeds $3,200,000, reflecting an appreciation of $700,000 in less than nine months. The property generates $10,000 monthly in rental income, with multiple purchase offers received at current value. This development enhances OPTEC's asset value and profitability, signaling positive outcomes for investors and shareholders.
OPTEC International, Inc. (OTC PINK:OPTI) has launched www.Optec.io, a new online marketplace aimed at providing medical products and protective gear. This platform will replace OPTEC's existing online store and is designed to expand its offerings in the future to include various consumer and business products. The marketplace will facilitate same-day delivery in the San Diego area, with plans for national and global expansion. The U.S. medical device market, valued at $156 billion, is projected to reach $208 billion by 2023, aligning with OPTEC's growth strategy.
OPTEC International, Inc. (OTC PINK:OPTI) is set to unveil prototype versions of its patented Digital Temperature Scanning technology for smartphones and tablets in March 2022. After filing original patent applications in 2020 and utility patents in 2021, the company aims to enhance pandemic safety by enabling quick temperature checks through mobile devices. The technology allows for real-time data recording in medical and various industries, potentially transforming how temperature data is collected. OPTEC also plans to license this technology to manufacturers worldwide.
OPTEC International has announced a settlement with We Shield to resolve ongoing legal disputes, resulting in the dismissal of lawsuits between the two entities. The agreement allows OPTEC to work with We Shield within its PPE division without any outstanding debts. As part of the settlement, OPTEC has canceled the remaining debt owed to We Shield. Additionally, We Shield will supply PPE products, particularly at-home rapid test kits, to OPTEC, which has seen increased market traffic due to the Omicron variant. The terms of the settlement remain confidential.
OPTEC International, Inc. (OTC PINK:OPTI) has reported a surge in demand for its Personal Protective Equipment (PPE) due to the ongoing pandemic. The company’s inventory of Medical and Respirator masks is now shipping daily to distributors and healthcare facilities. Additionally, Antigen Rapid Test kits sold out within 24 hours, prompting a significant influx of new orders. OPTEC is also launching a new e-commerce website for PPE sales, expanding its market presence. Furthermore, rising fuel prices have increased distributor inquiries for its Fuel Maximizer products.
OPTEC International, Inc. (OTC PINK:OPTI) announced the cancellation of 30,000 Preferred shares previously issued to Amazon Management LLC for the Z2O technology acquisition. This move results in a 31.5% reduction of the company's issued and outstanding Preferred shares. Although this cancellation does not finalize negotiations with Amazon, it facilitates further discussions for an amicable settlement regarding the remaining 72% of the acquisition payment. OPTEC will continue to update stakeholders on the status of negotiations.
On November 29, 2021, OPTEC International, Inc. (OTC PINK: OPTI) reiterated its intention to resolve outstanding legal issues before the CEO's retirement. However, reports indicate that OPTEC has not initiated settlement discussions with WeShield or its CEO, Michael Sinensky, concerning the ongoing litigation. As of now, no contact has been made by OPTEC, leading WeShield to declare its commitment to defend against OPTEC's claims. The situation remains unresolved, with rumors of an imminent settlement being denied.
OPTEC International (OTC PINK:OPTI) announced that CEO Roger Pawson will retire from the Board of Directors in early 2022 due to health issues. Pawson expressed hopes to resolve all outstanding legal matters, particularly the WeShield legal action, before his departure. OPTEC will continue to provide updates on operations and negotiations. The company specializes in developing products for fuel maximization, electronic LEDs, UV safety technologies, and PPE, amid heightened concerns regarding safety during the ongoing pandemic.
