Developer and manufacturer of Fuel Maximizer products and related advanced technologies, OPTEC International (OTCMKTS:OPTI) came out with 2020 audited financials of its newly acquired subsidiary We Shield artificial Intelligence Driven Medtech company. It demonstrates that the New York based AI driven MedTech company, We Shield had revenues of $59 with EBIDTA of over $5.6 million.
Conducted by SAX LLP, the audit was managed by Wiss& Company LLP alongside We Shield’s CFO Katharine Harris.
The firm supplies products to many customers including GAP, Hard Rock, Caesars Entertainment, NYC Housing Authority, Defense Logistics Agency and has a robust management team harnessing marketing technology to fuel both growth and operations. The management of OPTEC is confident on generating strength and profits.
The company had also spoken about plans on completing audited financials for becoming compliant with OTCQB.We Shield’s CEO Michael Sinenskysaid that the firm is looking forward to OTCQB and broadening investor base.
OPTEC’s CEO Roger Pawson said that We Shield’s audit demonstrates better than anticipated profits as well as revenues.
WeShield also said that a new purchasing division called “WeShield Together” will have 25 outside commodity-based sales organizations to facilitate lowering of costs and augmenting supply chain efficiency. WeShield is anticipating additional $25 million annually in revenue from this new division. OPTEC, on the other hand, announced expansion of Z2O services to Miami, Florida.
Market Reaction:
On Friday, OPTI stock ended flat at $0.0478 with more than 16.92 million shares, compared to its average volume of 18.94 million shares. The stock had moved within a range of $0.0470-$0.0525 after opening the trade at $0.0476. Over the past 52-week, the stock has been trading within a range of $0.0151 – 0.04400.
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