PRCC COMPLETES ALL CRITICAL ELEMENTS OF CHINA CONTRACT.
Gosselin stated, "I believe that 1999 has been the most amazing turnaround and growth achievement I have seen in any public company during my thirty years as CEO. Four years of aggressive competition for the largest air pollution market ever presented to this industry resulted in a China foothold for a Phase I contract. We started the year after $2.8 million in sales for 1998 with only $60,000 cash. We are ending this year with approximately $8 million in sales and approximately $1,000,000 in cash, primarily due to the China market."
Gosselin continued, "Our acceptance tests mentioned above are particularly noteworthy. All equipment, which we design and manufacture in-house, performed flawlessly with an astounding 98+% data capture. This coming week, on schedule, we are demonstrating our in-house developed reporting, air permitting, and real-time graphical software as 'frosting on the cake' that no other competitor has in-house. Our current situation bodes well for ongoing work in China."
As previously reported, DEC has signed a Letter of Intent valued at more than $11 million with China's State Environmental Protection Administration ("SEPA") for Phase II of SEPA's Nationwide Urban Air Quality Network. SEPA's ultimate goal is a nationwide network of air pollution monitoring stations in over 600 cities.
Pollution Research and Control Corporation primarily designs, manufactures and markets air pollution measurement instruments, nationally and internationally, through its wholly owned subsidiary Dasibi Environmental Corp.
For more information, call 818/247-7601.
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|Date:||Feb 1, 2000|
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