Welcome to our dedicated page for Reflect Scientfc news (Ticker: RSCF), a resource for investors and traders seeking the latest updates and insights on Reflect Scientfc stock.
Reflect Scientific, Inc. (RSCF) delivers innovative cryogenic cooling solutions for healthcare, biotechnology, and industrial markets. This news hub provides investors and industry professionals with essential updates on corporate developments and technological advancements.
Access official press releases covering product innovations, financial results, strategic partnerships, and regulatory milestones. Our curated collection ensures timely updates on RSCF's low-temperature freezer systems, refrigerated containers, and specialized chillers serving critical applications from pharmaceutical storage to aerospace manufacturing.
Key content includes earnings announcements, technology patents, executive leadership updates, and industry-specific applications of cryogenic solutions. Bookmark this page for centralized access to verified information about RSCF's progress in advancing temperature control systems for sensitive materials.
Reflect Scientific Inc (OTCQB: RSCF) reported a 27.5% decrease in revenue for 2022, totaling $2,041,297, down from $2,814,670 in 2021, primarily due to reduced freezer and chiller sales and supply chain delays. Gross profit margin fell to 59.7% from 68.6%, as costs of goods sold also decreased by 7.0% to $822,147. The net income dropped significantly to $89,396 compared to $939,065 in the previous year. Current assets exceeded liabilities by $2,179,237, with cash totaling $1,381,927. Management remains committed to improving sales and product offerings despite ongoing challenges.
Reflect Scientific, Inc. (RSCF) reported disappointing financial results for Q3 2022, with revenues of $253,233, a significant decrease from $716,145 in Q3 2021. The company faced challenges including rising costs and delivery delays. However, they maintain a strong cash position and anticipate a rebound by year-end. Their marketing efforts continue, notably with participation in a major cannabis show in Las Vegas. The company also plans to install freezer units for a current customer and is in discussions with a new client for multiple installations.
Reflect Scientific, Inc. (RSCF) has launched a new product showroom at its facility in Orem, Utah, to enhance customer experience and display innovative Cryometrix products. The showroom focuses on three key areas: Processing, Storage, and Transportation. Highlighted products include the B-90 Blast Freezing units, ultra-low-temperature freezers, and various temperature-controlled shipping solutions. CEO Kim Boyce noted positive user feedback on the reliability and cost-effectiveness of their proprietary liquid nitrogen-powered applications, which provide a green alternative to traditional cooling methods.
Reflect Scientific, Inc. (RSCF), based in Orem, Utah, has announced a partnership with Power PR to enhance its marketing strategy. The company focuses on innovative cryogenic cooling technologies, particularly low-temperature freezers under the Cryometrix brand. These systems utilize liquid nitrogen, offering energy savings of up to 90% compared to traditional compressors, alongside a 20-year warranty on the cooling systems. Reflect Scientific aims to improve the efficiency and safety of cooling sensitive products, aligning with eco-friendly practices.
Reflect Scientific, Inc. (RSCF) reported its financial results for Q2 2022, with revenue at $555,615, down $151,518 from $707,133 in Q2 2021. The cost of goods sold decreased by $39,358, leading to a gross profit of $359,794, which fell by $112,160 year-over-year. Operating expenses totaled $281,669, down $19,656, resulting in a net income of $78,125, compared to a loss of $92,656 in the same period last year. Supply chain disruptions impacted product availability, but the CEO expects improvements by Q3.
Reflect Scientific, Inc. (RSCF) announced a positive regulatory change with California's Air Resources Board favoring its Cryometrix CB 40 cold transportation trailer. This amendment promotes the use of lower global warming potential refrigerants and imposes stricter emission standards, aligning with the company's green technology initiatives. The Cryometrix system, which utilizes liquid nitrogen technology, provides a cleaner alternative to traditional diesel-powered refrigeration, addressing environmental concerns effectively. CEO Kim Boyce highlighted the significant market potential, especially given California's high diesel prices.
