In Preliminary Guidance, OriginClear Reports Revenue Growth of Its Texas Subsidiary

Progressive Water Treatment’s Revenues grew approx. 37%, while Gross Profits increased about 80% to nearly $1million.

Los Angeles, CA – March 28, 2019 – OriginClear Inc. (OTC/QB: OCLN), a leading provider of water treatment solutions, today issued its preliminary guidance for year-over-year revenue for its wholly-owned subsidiary, Progressive Water Treatment (PWT).

 

Ahead of its annual report, the Company is providing the following estimates for PWT:

Revenue grew from $3,216,182 in 2017 to approx. $4,397,500 in 2018, a 37% increase year over year

Gross Profits, which were $543,910 in 2017, grew to approx. $978,700 in 2018, an 80% increase.

These results include a modest contribution from Modular Water Systems (MWS), which was established 2018 as a unit of PWT.

These results do not reflect OriginClear’s overall performance in 2018, as the company continued to show significant losses associated with corporate overhead, and investment in the new MWS business unit, among other expenses.

“We are extremely happy with the Texas team headed by Marc Stevens,” said Riggs Eckelberry, OriginClear CEO.”

Safe Harbor Statement:

Matters discussed in this release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein, and while expected, there is no guarantee that we will attain the aforementioned anticipated developmental milestones. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.

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