Mr. Dennis Danzik reports
RDX PROVIDES GUIDANCE ON WATER TREATMENT REVENUES FOR THE THIRD QUARTER OF FISCAL 2015
RDX Technologies Corp. expects to surpass $2-million in revenues in its water division for the third quarter of fiscal 2015. In addition, the company announced that it has completed the installation of a water treatment and mining system in Suffolk county, New York, which is now fully operational.
Dennis M. Danzik, chief executive officer of RDX, stated: "RDX water revenues are back on a growth trajectory as we successfully refocused our business model, concentrating on high-margin, recurring revenue opportunities and licensing. This will mark the first quarter we have surpassed $2-million from water treatment revenue, and we are now seeing our water treatment opportunities expand and grow at a manageable rate. Growth in water treatment also equates to growth in overall fuel sale revenue, as our access to raw materials that can be refined into fuel increases in relation to RDX water treatment installations. I also wish to personally congratulate our engineer in charge of manufacturing, David Bogardus, for his dedication in completing the Suffolk county installation. The Suffolk county opportunity is our largest opportunity to date, with over 20 million gallons per day in process. The company will provide a full update on the project during our upcoming conference call on Jan. 8."
The company also announced a board change with the departure of Richard Carrigan, who has served on the board of RDX since January, 2012.
Mr. Danzik stated: "The company wishes to thank Richard for his service over the last few years. Our plan is to expand the depth of the board by adding additional independent directors with industry experience, customer relationships and capital markets expertise. We look forward to announcing these appointments in early 2015, which will also support our future plans to list on a senior U.S. exchange."
The company has prepared a video-based business update, which is now available on its website.
Conference call -- the RDX progress, growth and profitability
The company will host a business update conference call, which will provide more detail regarding the third quarter and expectations for fiscal 2015, as well as coming RDX real estate developments, a franchise update and an energy sales update. The call will be hosted by RDX chief executive officer Dennis M. Danzik and will feature several key RDX division management speakers, as well as operators, on Thursday, Jan. 8, 2015, at 10 a.m. Eastern Time. The company will provide dial-in information ahead of the scheduled call.
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