Global Water Technologies issues shareholder letter with 2013 plans
01 January 2013 - 12:49AM
OTC Markets
For immediate release: Global Water
Technologies (OTC Pink: GWTR)
http://www.gwtr.com
December 31, 2012
Dear Shareholders of Global Water
Technologies,
As we end the year and prepare for 2013, it is
time for our
annual shareholder letter with a review of the company’s progress
and future
opportunities.
During the past year, we focused our efforts
on the
opportunities to create a pilot “smart water grid” that utilizes
information
technology to better manage the distribution of drinking water in
the United
States. We identified this as a significant and growing market, as
aging
systems of underground pipes continue to develop leaks and cause
hundreds of
water main breaks each day. This not only wastes approximately 20
percent of
the clean water that has been treated to high drinking water
standards, but it
is an expensive problem that also damages infrastructure, disrupts
business and
causes public health and safety problems.
With the massive amount of funding needed to
restore the
nation’s drinking water infrastructure in the coming decade, a
fragmented
market with thousands of water utilities and increasing demands for
greater
accountability and efficiency, we believe there are significant
opportunities
for new technologies that can reduce water loss and create a
“smarter” delivery
system.
We also believe that the benefits of such
technologies must
be demonstrated on a local basis in a way that shows their impact
on people,
pipes and policy. Earlier this month, we announced our plans to
launch a pilot
smart water grid that shows how our comprehensive “people + pipes +
policy”
approach can be a model for sustainable water infrastructure.
Global Water Technologies has been working
with several
partners to launch such a pilot project with new technologies that
engage the
people who are consumers of water, the pipes and infrastructure
that make up
the delivery system and the policies that encourage water
efficiency at the
local, state and national levels.
The company announced initial partnerships
during the past
year, including our effort to introduce a patented sensor +
software system that
has been deployed across Europe to provide better measurement and
early warning
of underground water leaks. We also announced a partnership with
the Buried
Asset Management Institute – International (BAMI-I) that works with
owners of
underground water infrastructure to improve their asset management.
We expect
to announce additional partnerships as we develop our pilot project
in the
coming year.
While we believe there are great opportunities
ahead, the
company also recognizes the challenges of introducing new
technology solutions
to water utilities that are generally conservative and slow to
adopt change.
That is one reason that we are pursuing a comprehensive approach
with a pilot
project that demonstrates benefits to the wider community. The
successful
launch of a pilot project can then serve as an example from which
additional
deployments of the technologies can be expanded and scaled into
larger systems.
While focusing on these new opportunities,
Global Water
Technologies has continued to provide shareholders with quarterly
filings of
financial statements through the OTC Markets. In 2012, GWTR stock
maintained
its “Current Information” status, which is the highest tier for
pink sheet
companies.
Financial results demonstrated the challenges
of transitioning
to a new area of focus, especially since the smart water grid
efforts to date
have been pre-revenue business development and the company’s legacy
product
line continues to have minimal sales through its Electric H2O
subsidiary.
Business efforts have been hampered by a lack of working capital
and securing
additional funding is a top priority for 2013.
The company continues to operate with a very
lean cost
structure and has been careful in issuing new shares of its common
stock to
secure new technologies and services, settle accounts payable and
raise working
capital. At the end of 2012, the company had 11,698,605 shares of
its common
stock issued and outstanding.
Development work has also continued on the
patent issued to
the company in 2011 for on-site production of sulfuric acid. Global
Water
Technologies recently met with its partner on that effort and was
informed that
initial design work has been completed on a one-ton per day system
and a
prototype is expected in the first half of 2013.
In the past month, the company has also met
with its
securities attorney and accountant to discuss the possibility of
making future
SEC filings, which would require auditing of financial statements
and may
provide better access to capital markets. The company is reviewing
such options
and will provide updates as appropriate.
Thank you to all our shareholders, customers,
partners, vendors and staff for continuing to support the company
as we build Global Water Technologies and look forward to a
successful new year.
Sincerely,
Erik Hromadka
Chairman and CEO
www.gwtr.com
FORWARD-LOOKING
STATEMENT:
Statements
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.
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