Cavitation Technologies, Inc. Reports Third Quarter Financial Updates and Developments for Fiscal Year 2014
10 Apr 2014
LOS ANGELES, Calif., April 10, 2014 - Cavitation Technologies, Inc. ("CTi") (CVAT) (Berlin & Stuttgart: WTC) has just completed the third quarter of its fiscal year 2014 and is pleased to report that the Company generated its strongest quarter to date in regards to revenues and sales back log. As previously stated, CTi projected third quarter revenues of $1.2 to $1.3 million and expects the final audited figure to be in the upper range of this projection.
CTi strengthened its presence globally by completing new sales agreements in the United States, Brazil and India. Furthermore, the Company has received significant interest in its new applications for processing and refining vegetable oils such as canola, sunflower, and palm oil. Trial testing is currently underway.
The Company has also developed new applications for producing and processing biodiesel. On November 14, 2013, CTi announced that its biodiesel patent, "Process for Producing Biodiesel through Lower Molecular Weight Alcohol-Targeted Cavitation" was approved for issuance by the United States Patent and Trademark Office (USPTO). In addition to its existing portfolio of patented and patent pending processes, the Company has filed two new patent applications this year and is currently awaiting their approval from the USPTO. Approval of these new patent applications will open up additional new market opportunities in the bioethanol and biomass industries.
Founded in 2007, the company designs and manufactures state-of-the-art, flow-through, robust devices and systems and develops processing technologies for use in edible oil refining, renewable fuel production, expeditious petroleum upgrading, algal oil extraction, alcoholic beverage enhancement and water treatment. As an add-on to existing neutralization systems, the company's patented Nano-Reactor(R) allow refiners to significantly reduce both processing costs and the environmental impact, while also increasing the yield. More information is available at http://www.ctinanotech.com/.
About Desmet Ballestra
Leading engineering company in its sector, Desmet Ballestra provides high profile solutions covering all stages of Oils and Fats processing: seeds preparation, extraction, refining and fat modification. The company has supplied small and large plants to some 1,700 oil millers in 150 countries, covering over 6.000 process sections. Leading edge Research & Development and privileged customer relationship are the key assets of Desmet Ballestra, which is able to provide the best technologies through an international network of companies. Desmet Ballestra Oils & Fats is held in high repute all over the world, and its name stands for experience, innovation, first class project management, customer service and environmental protection policy. For more information: http://www.desmetballestra.com.
Forward Looking Statement
The foregoing press release may contain forward-looking statements, including statements regarding, among other things, about the expectation of CTI's future business. These forward-looking statements are based largely on the Company's expectations and are subject to a number of risks and uncertainties, certain of which are beyond the Company's control. Actual results could differ materially from these forward looking statements as a result of a variety of factors including, among others, the state of the economy, the competitive environment, and the Company's performance. In light of these risks and uncertainties there can be no assurances that the forward looking statements contained in this press release will in fact transpire or prove to be accurate.
Contact Surety Financial Group, LLC 410-833-0078
Source: Cavitation Technologies, Inc.