Current Water Technologies Inc (WATR) ニュース

Information from todays MD&A:

Current Water’s revenues of $3,043,895 increased for the year ended December 31, 2023 as compared to $2,158,266 for the same period in 2022. This increase was due to the timing in the number of projects for both Current Water and Pumptronics and also the recognition of licensing fee received in the year. See Events note below and note 18 of the audited financial statements for the year ended December 31, 2023.

Project revenue for test units are normally recorded when risks and benefits of ownership are transferred, which is generally upon delivery. Receivables are normally due and payable within 30 days of delivery; however, management, in an effort to gain strategic relationships, may enter into a payment schedule with key customers who have an on-going relationship with Current Water and its technologies.

The net income for the year was $447,152, or approximately $0.002 per share, as compared to a net loss of $1,052,777, or approximately ($0.005) per share, in the prior year. Direct expenses include project materials, office salaries, labour, general overhead, professional consulting, travel, and a percentage of general and administrative costs. Direct expenses decreased from $2,027,085 in 2022 to $1,701,475 in 2023 due to timing of sales and technical staff, general overhead and professional consulting. General and administrative expenses include marketing, research and development, and accounting and auditor fees, as well as officer fees and public company expenses; these decreased from $636,100 for 2022 to $532,021 in 2023.

CWTI Presentation (Full Insight Into The Company)

Current Water reviews 2023 activities, progress

2023-10-18 09:47 ET - News Release


Dr. Gene Shelp reports

CURRENT WATER TECHNOLOGIES CORPORATE UPDATE

Current Water Technologies Inc. has provided its shareholders and supporters with the following corporate update.

Marketing activities

Two thousand twenty-three has been a transitional year for Current Water Technologies, with the establishment of a sales and marketing team that is engaging numerous domestic and international parties in the oil and gas, municipal, agricultural, fertilizer, biogas, and mining sectors. Management believes the future is bright for the company's innovative AmmEL-H2 technology as global social and political sentiments are aligned, and governments urgently seek solutions to the ever-worsening climatic conditions.

Most notably, after successfully competing to earn the right to participate, Current Water Technologies has been an invited speaker at technology forums organized by Isle Utilities of the United Kingdom. Isle Utilities is an international independent technology and innovation consultancy that brings together engineers and scientists with extensive and diverse consulting expertise to facilitate relationships in the water, waste, energy, carbon and the build environment sectors. The Isle team supports innovation, technology development, strategy and growth, and investment, and is experienced in bringing new technologies to market.

Through Isle's global innovation forum, the Technology Approval Group (TAG), Isle has established a strong record in identifying emerging technologies and accelerating their market uptake.

During the first half of 2023, Current Water Technologies participated in two technology forums in Europe, which have resulted in continuing negotiations with several municipal and industrial entities. Markus Ingelsson, MSc, Current Water's manager, engineering and technical services, has been invited to speak at the Joint Western Wastewater and Pacific Northwest TAG meeting on Thursday, Oct. 19, 2023. This in-person meeting will be hosted by Orange County Sanitation District in Fountain Valley, Calif., and include participation of major regional municipalities.

In-house interactive pilot-scale investigative studies

Currently, Current Water Technologies is conducting stage 1 in-house pilot-scale investigative studies for several municipal and industrial clients. For its clients, these studies are an important proof-of-concept step prior to adopting the company's innovative technologies. Current Water's interactive program format enables client participation following completion of the optimization stage of the test program.

Successful investigative studies should lead to an on-site pilot/demonstration project and subsequently, a commercial installation.

Aquaculture activities

In the third quarter, Current Water Technologies received a purchase order for four additional AmmEL-Aqua ammonia treatment systems. The systems are scheduled to be delivered during the fourth quarter of 2023. Current Water Technologies is optimistic that sales of AmmEL-Aqua systems will significantly increase in 2024 as its partners launch their innovative, best-in-class service for transport and storage of live aquatic animals utilizing containers equipped with BlueVita Technology.

Pumptronics activities

Following a busy first quarter, sales were relatively quiet during the second quarter. However, the sales and design team was very active, with the submission of 15 quotations, primarily for large to medium flood control/irrigation pumping systems. In August, 2023, a purchase order was received for a large flood control pumping system, as well as those for multiple smaller systems. Multiple sales for large to mid-size pumping stations are anticipated during the final quarter of 2023.

About Current Water Technologies Inc.

Current Water Technologies is a technology company applying its patented and proprietary electrochemical technologies to the treatment of waste water, desalination water and drinking water contaminated by metals or nutrients, such as nitrate/ammonia associated with the mining, metal processing, chemical, agricultural, municipal and waste management sectors. Pumptronics Inc. operates as a division of the company and continues to function as an integrated pump station manufacturer specializing in custom design and automation.

We seek Safe Harbor.

Current Water Technologies Inc. Due Diligence Report
Tickers: TSXV: WATR | OTC: ENPRF
Price: $0.035 CAD | $0.03 USD
Common Shares 212,275,038
Warrants: 57,150,500 @ $0.06 CAD
Options: 22,450,000 @ $0.06 CAD
Insider Holdings: 41,214,638 or 19.4%
Website: www.currentwatertechnologies.com
Company Description
Current Water Technologies Inc. was incorporated on February 15, 1996 under the laws of the Province of Ontario. The company provides innovative patented and proprietary technologies for the treatment of ammonium in municipal and industrial waste water and the resulting production of green hydrogen gas; the safe transport, storage and husbandry of fresh water and sea water animals; and the production of high purity water for the energy, pharmaceutical and microelectronics industries.
In January 2018 Current Water Technologies Inc. acquired Pumptronics Incorporated, which operates as a division of the Company and functions as an integrated pump station manufacturer specializing in custom design and automation.
Together, Current Water Technologies Inc. and Pumptronics Incorporated (“Current Water” or “the Company” or “the Corporation”) can provide increased breadth and depth of technical services and manufacturing capabilities around the world.
2023 Performance
Revenue: $3,239,770
Profit: $804,125
Balance Sheet
Total Assets: $1,400,212 (Cash - $378,623)
Total Liabilities: $1,093,130
Management Discussion Highlights
Overall performance
Current Water continues to focus on marketing and business development efforts during the current year via establishment of strategic alliances and non-exclusive and exclusive distributorships. The Company is currently marketing its technologies in North America, Australia, Asia, Europe, the Middle East, South America and Africa.
Current Water’s revenue of $1,545,699 increased for the quarter ended September 30, 2023 as compared to $1,447,152 for the same period in 2022. This increase was due to the timing in the number of projects for both Current Water and Pumptronics.


Subsequent Events
October 18, 2023, The Company provide shareholders and supporters with the following corporate update.
In-house Interactive Pilot Scale Investigative Studies
Currently, CWTI is conducting stage 1 in-house pilot scale investigative studies for several municipal and industrial clients. For our clients these studies are an important proof of concept step prior to adopting our innovative technologies. Our interactive program format enables client participation following completion of the optimization stage of the test program. Successful investigative studies should lead to an On-site Pilot/Demonstration Project and subsequently, a commercial installation.
Aquaculture Activities
In the third quarter, CWTI received a purchase order for four additional AmmEL-Aqua ammonia treatment systems. The systems are scheduled to be delivered during the fourth quarter 2023. CWTI is optimistic that sales of AmmEL-Aqua systems will significantly increase in 2024 as our partners launch their innovative, best-in-class service for transport and storage of live aquatic animals utilizing container equipped with BlueVita Technology.
Pumptronics Activities
Following a busy first quarter, sales were relatively quiet during the second quarter. However, the sales and design team was very active with the submission of fifteen quotations primarily for large to medium flood control/irrigation pumping systems. August 2023, a purchase order was received for a large flood control pumping system, as well as those for multiple smaller systems. Multiple sales for large to midsize pumping stations are anticipated during the final quarter of 2023.