OriginClear Continues to Grow Revenue and Gross Profit in Q3

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Revenue up 20% and gross profits up 87% from the second quarter, while operating losses narrowed.

CLEARWATER, Florida, November 19, 2021– (BUSINESS WIRE) – OriginClear Inc. (OTC Pink: OCLN), a leading company in the autonomous water revolution that develops outsourced pay-per-gallon programs, today announced that revenues and profits Gross sales in the third quarter of 2021 improved significantly compared to the second quarter, while operating losses were reduced.

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OriginClear’s revenue and gross profit for the third quarter of 2021 improved significantly from the second quarter, while operating losses declined. (Image by OriginClear)

The company reported the following highlights from its recent quarterly report:

Third quarter 2021 compared to second quarter 2021:

  • Returned improved 20% to $ 1,120,687 compared to $ 931,422.

  • Gross profit improved 87% to $ 330,351 compared to $ 176,500.

  • Cost of sales grew up 5% to $ 790,336 compared to $ 754,922.

  • Operating losses Shrunk at $ (1,323,074) compare to ($ 1,929,679).

Third quarter 2021 compared to third quarter 2020:

  • Returned improved by 22% to $ 1,120,687 compared to $ 917,320.

  • Gross profit improved at $ 330,351 compared to $ (17,388).

  • Cost of sales improved 15% to $ 790,336 compared to $ 934,708.

  • Operating losses grew up at $ (1,323,074) compare to ($ 1,183,722).

“We are very pleased with the progress of our Progressive Water Treatment and Modular Water Treatment divisions,” said Riggs Eckelberry, CEO of OriginClear.

“The growth of our conventional business is great news,” said Tom Marchesello, COO of OriginClear. “And now, with the launch of our pre-funded Water On Demand water equipment program, we believe the year ahead is promising.”

ORIGINCLEAR, INC. AND SUBSIDIARIES

SUMMARY CONSOLIDATED EARNINGS STATEMENTS

FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2021 AND 2020

(Unaudited)

Three months ended

Nine months ended

September 30
2021

September 30
2020

September 30
2021

September 30
2020

Sales

$

1 120 687

$

917 320

$

2 848 287

$

3,064,758

Cost of goods sold

790,336

934,708

2 237 282

2,716,582

Gross profit

330,351

(17,388

)

611,005

348,176

Operating Expenses

Sales and marketing costs

636,481

339,759

2 201 045

1,053,559

General and administrative expenses

1,006,041

782,810

2,785,713

1 853 760

Research and development

29 334

83,400

Depreciation allowance

10,903

14,431

34,034

39,892

Total operating expenses

1,653,425

1,166,334

5,020,792

3,030,611

Operating loss

(1 323 074

)

(1,183,722

)

(4,409,787

)

(2,682,435

)

OTHER REVENUES (EXPENSES)

Other income

356,438

4,001

359,939

12,521

Depreciation of the asset for sale

(116,000

)

(116,000

)

Gain on cancellation of loans payable

151,000

157,250

Gain / (Loss) on conversion of preferred shares

(146,382

)

18 066

(1,265,666

)

24,129

Loss on exchange of preferred shares

(40,000

)

Unrealized gain (loss) on marketable securities

(8,400

)

3,600

32,000

400

Gain on net change in derivative liability and debt conversion

19 798 080

6,409,231

(4,146,757

)

23 627 793

Interest charges

(314,547

)

(233,010

)

(934 942

)

(638 077

)

TOTAL OTHER (EXPENSES) REVENUES

19 720 189

6 201 888

(5 954 176

)

23 026 766

NET PROFIT (LOSS)

$

18 397 115

$

5,018,166

$

(10 363 963

)

$

20 344 331

DIVIDENDS IN PREFERRED SHARES

DEEMED DIVIDEND GUARANTEE

(2,037,849

)

(NET LOSS) ATTRIBUTABLE TO RESULTS TO SHAREHOLDERS

$

18 397 115

$

5,018,166

$

(12 401 812

)

$

20 344 331

BASIC EARNINGS (LOSS) PER SHARE ATTRIBUTABLE TO SHAREHOLDERS

$

0.09

$

0.27

$

(0.08

)

$

1.75

EARNINGS (LOSS) DILUTED PER SHARE ATTRIBUTABLE TO SHAREHOLDERS

$

0.02

$

0.03

$

(0.08

)

$

0.15

WEIGHTED AVERAGE ORDINARY SHARES OUTSTANDING, BASIC

197 669 804

18 643 531

147 762 596

11 598 453

DILUTED

795 174 058

146,074,997

147 762 596

139 029 918

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

About OriginClear Inc.

OriginClear leads the autonomous water revolution, democratizing investment in water by developing a market to connect investors to water projects; and commercialize advanced modular, prefabricated and filterless systems for faster sanitation around the world. With America’s broken infrastructure and $ 100 billion in government spending to fix the nation’s more than 150,000 water systems, OriginClear is helping them ‘cut the cord’ by developing outsourced payment programs per gallon and a future digital currency to streamline payments. Our modular water system and product line is key to the stand-alone water treatment revolution as it creates “instant infrastructure” – fully designed, prefabricated and prepackaged systems that use durable and sophisticated materials. To learn more about OriginClear®, please visit our website at www.originclear.com.

For more information, visit the company’s website: www.OriginClear.com
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OriginClear Safe Harbor Statement:

The matters discussed in this press release contain forward-looking statements. When used in this press release, the words “anticipate”, “believe”, “estimate”, “may”, “intend”, “expect” and similar expressions identify such forward-looking statements. The actual results, performances or achievements could differ materially from those envisaged, expressed or implied by the forward-looking statements contained in this document.

These forward-looking statements are based in large part on the Company’s expectations and are subject to a number of risks and uncertainties. These include, but are not limited to, the risks and uncertainties associated with our history of losses and our need to raise additional funding, market acceptance of our products and technology, our ability to demonstrate the commercial viability of our products and technology and our need to increase the size of our organization; and whether or when the Company will receive and / or fulfill its obligations under any purchase order. Further information on the Company’s risk factors is contained in the Company’s quarterly and annual reports filed with the Securities and Exchange Commission. The Company assumes no obligation to publicly revise or update forward-looking statements for any reason, except as required by applicable law.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20211118006433/en/

Contacts

Media contact
The Pontes Group
Lais Pontes Greene (954) 960-6083
lais@thepontesgroup.com
www.thepontesgroup.com

Investor Relations and Press Contact:
Devin Angus
Toll free: 877-999-OOIL (6645) Ext. 3
International: + 1-323-939-6645 ext. 3
Fax: 323-315-2301
ir@OriginClear.com
www.OriginClear.com



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