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Recent News & Events
June 28, 2015
Global Water Technologies releases shareholder update
Dear Shareholders of Global Water Technologies,
As we reach the midpoint of 2015, it is a good time to review progress made by the company and assess its future direction. This year has seen increasing interest in the water sector and the types of efforts we have been undertaking over the past five years.
Water efficiency and infrastructure improvement have become serious topics at both the local and national levels. Innovation in these areas creates new opportunities, but also brings the challenges of being early in a slow-moving sector, and we have seen our share of both. However, the company is now positioned well to execute and secure the funding needed to grow the business.
A quick update on several parts of the company:
Electric H2O - the legacy subsidiary continues to improve performance and is on track to show two years of revenue growth.
GreenSuite - the new Software-as-a-Service subsidiary has identified new developers to continue work on the customer dashboards for utility usage and recently built a test tool for community property managers.
WASIR - the Water and Sewer Innovative Resources operations have been merged into Global Water Technologies and Dr. Tom Iseley is now a member of our advisory board. Business development efforts on several infrastructure projects have been conducted over the past year, including introductory work in China in 2014 and the first half of this year.
Smart water - several technology partnerships have been developed to bring better measurement and monitoring into the water distribution network. Work to date has not generated revenue for the company, but recent progress of our partners includes two demonstrations of European technologies in North America and a U.S. patent application by a local partner. We expect to have additional information on these developments in the second half of 2015.
Living laboratory - efforts to launch a living laboratory for water technologies began in 2013, with a key group of Indianapolis leaders who recognized the unique opportunities for the city and state in our Smart Water for Indiana plan. Although that effort has been slow to develop and the other individual members of our initial group have now moved out of state, there is renewed interest in the project. We are currently updating the plan and intend to make it a priority in the second half of 2015.
The company has also built strategic relationships with some of the leading water technology organizations in the industry. We believe this will be valuable in positioning the company for success and also developing a path to market for innovative new products and services.
The most significant challenge faced by the company has been a continued lack of working capital. As the result of issues addressed in the 2014 shareholder letter, we have raised no funds during the past 18 months. However, the company has successfully navigated those challenges and avoided all toxic financing. In addition to raising funds for growth, securing the resources necessary to compile financials and restore a status of Current Information on OTC Markets is also a top priority for the second half of 2015.
The company has a good team that includes its securities counsel, accountants and transfer agent. It has also engaged a local law firm to assist with corporate matters and provide expertise in raising funds through new Indiana mechanisms to encourage investment and economic development. More information about our new counsel for that effort is available here.
As always, we continue to balance the interests of both new and existing shareholders and appreciate the personal sacrifices, investments and continued support, as demonstrated by all of us who are committed to building Global Water Technologies.
We welcome those who are new to the company and potential investors. Please continue to follow our progress and the updated news we post at gwtr.com.
Chairman and CEO
Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.