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.