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OriginClear’s 2018 Revenue Increased, While Operating Losses Narrowed

Apr 30, 2019 5:30:00 AM / by Riggs Eckelberry

Q1 purchase orders reached more than $2 million

Los Angeles, CA – April 30, 2019 – OriginClear Inc. (OTC: OCLN), a leading provider of water treatment solutions, reported today that in its 10-K Annual Report filing, 2018 Revenue increased by 38% to $4,637,698 over 2017, and gross profit increased by 78% to $1,153,680, while margins improved by 6% overall. Operating Losses narrowed by $1,231,703 to $(4,062,351), a 23% improvement over 2017.

In an indication of future revenues, OriginClear’s operating divisions received $2,312,968 in firm Purchase Orders in the Quarter ended March 31. For the first time, the new Modular Water Systems division contributed significantly to the total.

The Company believes it has the ability to fulfill these purchase orders. While the Purchase Orders are firm, or money has been received for the order, the Company cautions that a Purchase Order may take several months to be fully recognized as Revenue, which the company estimates will reach $800,000 for the quarter ending March 31.

Riggs Eckelberry

Written by Riggs Eckelberry

Riggs Eckelberry is a veteran technology manager who led companies to multiple exits during the high-tech boom of the 90s and early 2000s. Eckelberry came to the water industry from a quarter century in high technology, specializing in commercializing breakthrough technologies. During the dotcom boom, he worked on a series of tech successes, such as Quarterdeck’s CleanSweep; security software vendor Panda Software; and the sale of companies to EarthWeb, BeFree, and BellSouth. Just prior to founding what is now OriginClear, he helped drive security software company CyberDefender to an IPO on the Nasdaq as its president and chief operating officer.