OPTEC International Corporate Update & Annual Report Publication

Rhea-AI Summary

OPTEC International Inc. (OTC PINK:OPTI) released its annual report for the period ending June 30, 2020, highlighting key developments post-reporting. The company successfully repaid all institutional notes and has no outstanding warrants or options. An Advisory Board was created to drive growth, featuring notable members such as former Amazon Logistics Director David Ojeda. OPTEC expanded its production with a new facility and diversified its product line to include UV-C sterilization products. Revenue projections for Q1 2021 are around $4 million, indicating optimistic growth.

Positive

• Fully satisfied all institutional notes.
• Created an Advisory Board with industry experts.
• Leased an additional 22,000 sq. ft. production facility.
• Expanded product line to include UV-C sterilization products.
• Projected Q1 2021 sales of approximately $4 million.

Negative

• None.

CARLSBAD, CA / ACCESSWIRE / August 25, 2020 / OPTEC International Inc., (OTC PINK:OPTI) The company today published the annual report for period ending June 30^th 2020, on OTC Markets, the link is: https://backend.otcmarkets.com/otcapi/company/financial-report/255966/content

Included in the annual report are subsequent events achieved by the company from July 1^st to current which include:

Note 11 - SUBSEQUENT EVENTS:

Management has reviewed events between June 30, 2020 to the date that the financials were issued, and the following events were significant for disclosure:

The Company has fully satisfied and paid in full all institutional notes included in the Annual Report. Additionally, there are no additional outstanding Warrants or Options applicable to the former Institutional note holders. The Company created an Advisory Board to assist with the projected growth and expansion of the Company's operations. The Advisory Board is comprised of David Ojeda, former Amazon Logistics Director; John Parks Trowbridge, MD, Kevin Harrington, former Shark Tank entrepreneur, and Steven Mandell, renowned Sports and Entertainment attorney. The Company leased an additional 22,0000 square foot production facility at 3151 Scott St., Vista, Ca. 92081 in close proximity to its 8,000 square foot corporate headquarters to accommodate increased production and distribution. The Company expanded its product line from its Solar Led marketing agreement to include ultraviolet and UV-C Personal Protection Equipment and commercial UV powered sterilization and disinfection products. The Company is adding new distributors globally to expand distribution and sales of the company's PPE (Personal Protection Equipment) UVC sterilization and disinfection products. The Company received patent pending status for both domestic and foreign filings (PCT) for UV-C -LED light technology integrated for use in cell phones and tablets. The Company previously projected product sales of approximately $4,000,000 for its 1st quarter ending September 30, 2020. The company estimates that it is currently on target to meet those projections.

ABOUT OPTEC INTERNATIONAL.

OPTEC International is a market leader in the development and distribution of (Ultra-Violet) UV-C & UV Germicidal Non-Toxic Sanitization and Disinfection using Chemical Free technologies and products. OPTEC is significantly helping in changing the Germicidal Sterilization & Disinfecting environment using UV-C Light and UV Products. Ultra-Violet light is now the Worlds most advanced solution for Killing Bacteria, Mites & Parasites whilst simultaneously de-activating 99% of Virus's in a non-chemical environment. The Company today announced the introduction of a safer way to Re-Open in Person Schools across the country using a suite of OPTEC products as an alternative to distance learning options mandated in many states. The same combination of products can be used for the safer re-opening of Churches, Gyms, Theaters, Sports venues, Concerts and many more currently restricted or closed businesses and organizations across the country.

The OPTEC Advisory Board comprises of David Ojeda, Former Amazon Senior Director of Logistics and Distribution. Dr. John Parks Trowbridge MD (Stanford), Kevin Harrington, Shark Tank Original Investor, Steve Mandell, Harrington Group Expert Advisor.

Additional Information Links Re: Ultra-Violet Technology. https://www.reuters.com/article/us-health-coronavirus-boeing-cleaning/boeing-testing-hand-held-uv-wand-to-sanitize-cockpits-cabins-idUSKBN25H2RM

https://www.iheart.com/content/2020-07-29-jetblue-testing-ultraviolet-cleaning-robot-to-disinfect-planes/ https://www.dailymail.co.uk/health/article-8237137/Columbia-scientist-says-special-type-ultraviolet-light-secret-killing-coronavirus.html

https://www.cbsnews.com/news/new-york-city-subway-ultraviolet-light-coronavirus-mta/

https://www.ny1.com/nyc/all-boroughs/news/2020/05/19/mta-invests--1-million-in-uv-light-machines-to-clean-subways

https://abcnews.go.com/US/ultraviolet-light-zap-coronavirus-york-city-subways-buses/story?id=70770382

Safe Harbor Statement: Safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as Opti, OPTEC or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions, or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. OPTEC International Inc.

OPTEC UVC Website: www.optecuvc.com

OPTEC International, Inc. Contact: info@optecintl.com

SOURCE: Optec International, Inc.

View source version on accesswire.com:
https://www.accesswire.com/603173/OPTEC-International-Corporate-Update-Annual-Report-Publication

FAQ

What are the recent developments for OPTEC International as of August 2020?

OPTEC has fully repaid institutional notes, created an Advisory Board for growth, expanded production facilities, and diversified their product line to include UV-C products.

What is OPTEC International's revenue projection for Q1 2021?

OPTEC International projects approximately $4 million in sales for the first quarter ending September 30, 2020.

Who are the members of OPTEC's Advisory Board?

The Advisory Board includes David Ojeda, Dr. John Parks Trowbridge, Kevin Harrington, and Steven Mandell.

What facility expansions has OPTEC International undertaken?

OPTEC leased an additional 22,000 square foot production facility to support increased production and distribution.

What is the significance of the new product line for OPTEC International?

The new line includes UV-C sterilization products, allowing OPTEC to expand its market reach during increased demand for sanitization solutions.