Optec Internatio - OPTI STOCK NEWS

OPTEC International, Inc. (OTC PINK:OPTI) has released its annual review for the period from July 1, 2020, to June 30, 2021. The company will now adopt a fiscal year ending December 31. OPTEC reported revenues of $6,284,609 for Q3 2020, increasing to $11,576,643 for Q1 2021, driven primarily by PPE product sales during the pandemic. Notable developments included acquiring a controlling interest in Raffina Innovations and filing two patents in UVC technology. The company aims to uplift to Nasdaq status after reinstating its fully reporting status.

Optec International, Inc. (OTC PINK: OPTI) faces a meritless lawsuit from its subsidiary WeShield, challenging the legitimacy of their merger. CEO Roger Pawson asserts the merger was finalized, contradicted by the lawsuit. WeShield reported $40 million in revenues and $6.7 million EBITDA for Q1 and Q2, with historical revenues of $59 million in 2020. The company is expanding its offerings, including the launch of a new division, WeShield Together, expected to generate additional revenue. Updates on the litigation will be communicated as they arise.

OPTEC International, Inc. (OTC Ticker: OPTI) filed a legal complaint on October 15, 2021, in the New York District Court against Corporate Event Management Ltd and Assure Global LLC, among others. The specific claims and details of the filing are elaborated within the legal document (Case 1:21-cv-08530). OPTEC specializes in developing and manufacturing safety products, including the OPTEC Fuel Maximizer and Temperature Scanning products, aimed at enhancing safety during the pandemic.

OPTEC International, Inc. (OTC PINK:OPTI) announced results from its Z2O subsidiary for the period ending September 19, 2021. The Z2O pilot program, launched earlier this year in Austin, Texas, has shown significant success, generating $699,404 in total volume across three cities: Austin ($349,330), Miami ($175,266), and San Diego ($174,808). Following these results, OPTEC plans aggressive expansion in the U.S. and Europe, with users requesting additional services beyond cleaning. The company aims to continue enhancing customer satisfaction.

OPTEC International has signed a Letter of Intent to acquire an established medical supply company on the West Coast with over 25 years of experience and annual revenues around $10 million. This strategic move aims to enhance OPTEC's purchasing power and add significant revenue. The acquisition will facilitate localized medical supply distribution, focusing on underserved same-day and next-day delivery services. A definitive agreement will be finalized by October 2021. The company also appointed a new Social Media director to support its operations in Vista, California.

OPTEC International, Inc. (OTC PINK:OPTI) clarified a significant reporting error regarding its outstanding shares. Instead of issuing 200,000,000 restricted shares to CEO Roger Pawson, the correct figure is 200,000 restricted shares. This miscommunication was addressed promptly with the transfer agent, who has been authorized to amend the records. CEO Pawson expressed regret over the incident and assured shareholders that this was purely an unintentional mistake. The firm continues to focus on developing innovative safety products amid pandemic concerns.

OPTEC International, Inc. (OTC PINK:OPTI) has launched a new group purchasing division, WeShield Together, through its subsidiary WeShield. In its initial two weeks, the division generated over $2 million in sales from PPE and medical supplies, driven by increased demand due to the Delta variant. With partnerships from 32 commodity sales organizations, WeShield aims to streamline costs as supply chains face ongoing pressures. The company anticipates further expansion into other commodities, enhancing operational efficiency during the pandemic.

OPTEC International, Inc. (OTC PINK: OPTI) is expanding its operations for its Z2O cleaning and sanitization services into Miami and San Diego following a successful pilot in Austin, Texas. The company is increasing staff at its new headquarters in Vista, CA, to support growing demand, particularly from the Airbnb and real estate sectors. The surge in COVID-19 cases is driving increased demand for PPE products through OPTEC and its subsidiary We Shield. Additionally, international distributors are showing interest in launching services in Mediterranean territories.

WeShield, a subsidiary of Optec International (OTC: OPTI), ranked 53rd on the 2021 Inc. 5000 list of fastest-growing companies, achieving nearly $100 million in revenue. The company recorded a staggering 10,000% annual growth fueled by increased demand for personal protective equipment due to the Covid-19 pandemic. WeShield's robust client base includes major retailers and government agencies, supporting the projected growth of the PPE industry, expected to exceed $100 billion globally in five years. WeShield aims to maintain its growth trajectory as it expands its market presence.