Optec International's Recent Acquisition of Artificial Intelligence Driven Medtech Company With Sales of $59 Million Audited Financials Released

Rhea-AI Summary

OPTEC International, Inc. (OTC PINK:OPTI) has released audited financials for its newly acquired subsidiary, We Shield, an AI-driven MedTech company specializing in PPE. We Shield reported over $59 million in sales and an EBITDA of over $5.6 million. The acquisition, supported by a strong management team, aims to enhance OPTEC's market strength and profitability. OPTEC is also working to complete its audited financials to up-list to OTCQB, with positive growth expectations following integration of We Shield’s operations.

Positive

• We Shield generated over $59 million in sales and an EBITDA of over $5.6 million.
• Acquisition expected to enhance OPTEC's market strength and profitability.
• Management confident in accelerated growth and successful integration of products.

Negative

• None.

CARLSBAD, CA / ACCESSWIRE / July 8, 2021 / OPTEC International, Inc. (OTC PINK:OPTI) released 2020 audited financials of newly acquired subsidiary We Shield artificial Intelligence Driven Medtech company which can be viewed on OPTEC's website. https://optecintl.com/news/

The report shows that We Shield, a New York based AI (Artificial Intelligence) driven MedTech company in the PPE space, generated over $59 million in sales with EBIDTA of over $5.6 million.

The audit was conducted by SAX LLP, a Top 100 accounting, tax and advisory firm and was managed by Wiss & Company LLP alongside We Shield's CFO Katharine Harris.

We Shield recently received the following award,(https://www.analyticsinsight.net/company-of-the-month-weshield-embracing-ai-to-streamline-high-quality-ppe-and-safety-supplies/) and is extremely well engrained in the Wholesale Medical sector supplying PPE safety products to customers including: GAP, Caesars Entertainment, Hard Rock, Defense Logistics Agency (DLA), NYC Housing Authority (NYCHA), Concordance, Henry Schein, Medline, and more. The company has a very strong and well-structured management team and uses advanced marketing technology to fuel both the company's operations and continuous growth.

OPTEC management is confident this acquisition will generate additional market strength, profits and shareholder value for OPTEC while simultaneously adding additional strength to OPTEC's management team.

OPTEC also recently announced their plans to complete audited financials in order to become fully reporting and up-list to OTCQB. (https://finance.yahoo.com › news Web results OPTEC International Retains Florida Professional ... - Yahoo Finance)

We Shield's CEO Michael Sinensky commented, "We look forward to OPTEC's return to OTCQB and broadening our investor base as they work on up-listing and beyond."

OPTEC's CEO Roger Pawson commented, "We Shield's audit showed more revenues and profits than anticipated and we expect to see accelerated growth of OPTEC's product sales now that We Shield is integrating OPTEC products and services into their AI driven sales and marketing platforms. With year-end and then audited financials both approaching followed by plans to up-list to OTCQB & then ultimately NASDAQ, the future for OPTEC looks extremely bright."

About We Shield. We Shield is deeply ingrained in the Wholesale Medical sector supplying PPE safety products to customers including GAP, Caesars Entertainment, Hard Rock, Defense Logistics Agency (DLA), NYC Housing Authority (NYCHA), Concordance, Henry Schein, Medline, and more. This AI driven MedTech company is on track for substantial growth. www.weshield.us

About OPTEC International, Inc.

With Locations in Carlsbad and Vista, California, OPTEC International is a developer and manufacturer of the OPTEC Fuel Maximizer products along with electronic LED, Ultraviolet (UV) & UV-C safety products and related advanced technologies and PPE (Personal Protection Equipment) products. The company's Temperature Scanning product line is being launched at a time when HR directors and facilities managers are experiencing extreme concern with respect to keeping environments safe during the global pandemic crisis and the safe reopening of the U.S. economy. For more information, visit: www.optecintl.com

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.

Investor Relations Contact:
Michael Iorlano
(760) 621-0062 / Mike@MountaintopMedia.net

SOURCE: Optec International, Inc.

View source version on accesswire.com:
https://www.accesswire.com/654685/Optec-Internationals-Recent-Acquisition-of-Artificial-Intelligence-Driven-Medtech-Company-With-Sales-of-59-Million-Audited-Financials-Released

FAQ

What were the sales figures for We Shield in 2020?

We Shield reported sales of over $59 million in 2020.

What is OPTEC's plan for up-listing?

OPTEC plans to complete audited financials to become fully reporting and up-list to OTCQB.

Who conducted the audit for We Shield?

The audit for We Shield was conducted by SAX LLP and managed by Wiss & Company LLP.

What impact does the acquisition of We Shield have on OPTEC?

The acquisition is expected to generate additional market strength, profits, and shareholder value for OPTEC.

What future growth does OPTEC anticipate after acquiring We Shield?

OPTEC anticipates accelerated growth in product sales following the integration of We Shield’s AI-driven sales and marketing platforms.