Hybrid Coating Technologies Inc (OTCMKTS:HCTI) Fluctuates Despite Recent Success
Hybrid Coating Technologies Inc (OTCMKTS:HCTI) has been rapidly fluctuating in the stock market, for the last 1-month, but has been unable to go higher than $0.0002 per share. The stock declined by another 50%, during the February 16 trading session, to reach a close at $0.0001 per share. However, the high trade volumes suggest that investors are starting to loose faith in the stock itself, mainly due to a lack of updates from the company. The last time HCTI made a press release was on January 17, 2017, when it announced a new pilot order from its distributor in China.
The company announced that this order would be accompanied by previously received pilot orders, from different jurisdictions around the world, to complete field trials, during the 2Q2017. It would be only after this period that the company would start accepting commercial orders. HCTI has claimed that this is the final step before commercialization in China and is in accordance with its previously announced milestones. The CEO of Hybrid Coating, Joseph Kristul, has stated that this is a sign of the company’s progress and that it would deliver meaningful sales this year.
It should be noted here that HCTI is based in San-Francisco and is working towards innovatively improving the safety and quality of coating, adhesives and foams, for customers around the world. For this purpose, the company makes use of its patented Green Polyurethane, to eliminate toxicity in its products. In addition to this, Hybrid Coating’s technology was also featured in an article in the European Polymer Journal, in December 2016. The article highlighted the sustainable routes, provided by the company’s products.
Earlier in December, Hybrid Coating also received a pilot order from another distributor in the European Union. The announcement was also accompanied by a guidance from the company, claiming that it expects sales worth $800,000, from the distributor, during the FY2017. Given that HCTI is still in the initial stages of commercializing its flagship product, investors remain uninterested in the stock. However, this outlook is set to change soon, once the company starts commercialization.© Copyright 2016 OTC News Magazine. All rights reserved.