Cyclone Power Technologies Inc (OTCMKTS:CYPW) has sought the assistance of SEC attorneys and auditors as it looks to bring up to date its financial statements for the past two years. The company has already entered into a contractual agreement with Hateley & Hampton PC (attorneys) and Anton Chia LLP (auditors) that are to oversee the auditing process.
The auditors will review and audit Cyclone Power earnings for the two annual periods ending December 31, 2014, and December 31, 2015. If everything goes well the reports should be ready and out in the next six weeks.
Away from the review of the financial results, Cyclone Power affirms that it is working around the clock to grow its business model. The primary focus at the moment is getting new products into the market that has the potential to generate cash flow and lead to profitability. Recently the company signed an exclusive Engineering development agreement with Falck Schmidt Defense Systems of Denmark.
The agreement is for the development of a militarized 10Kw auxiliary power unit for military applications over the next six months. The Exclusive Engineering Development agreement involves an initial engineering fee of $225,000. FSDS is also to act as the company’s exclusive distributor of both military and aerospace power applications as part of the agreement.
Business Developments
Cyclone is also expanding its wings in Mexico, G2E having already delivered a drawing needed for the building of Cyclone troughs and Cyclone Thermal Storage Units. Cyclone Power has also confirmed that one of its manufacturers has finalized the production of mark one engines with focus now shifting to the production of the heat exchanger.
Given the success achieved so far on the new business model, the management team remains confident that the company’s operations are well aligned with those of established partners, manufacturers, and Licensees.
Frankie Fruge, Cyclone Power Technologies Inc(OTCMKTS:CYPW) president has reiterated that focus now shifts to generating value from the current deals as well as pursuing new ones as part of an effort that seeks to grow shareholder value.
HERITAGE PRINTING NPV (OTCMKTS:HAGE) Bullish About Growth Prospects On 3D Printing
HERITAGE PRINTING NPV (OTCMKTS:HAGE) continues to clock new highs in the market in the wake of the name change from Heritage Action Corp. The stock has rallied from its 52-week low of $0.40 a share to current highs of $0.55 a share, investors having taken note of the immense growth opportunities available in the 3D printing business.
The company has already reiterated its intention to accrue a substantial amount of market share in the fast-growing industry. With the IDC forecasting that the 3D printing industry will grow to $35 billion by 2020, HERITAGE PRINTING NPV (OTCMKTS:HAGE) plans to curve a substantial amount of market share, essential for gaining an edge in the business.
By building and developing connections in the industry, the company plans to bolster its revenue stream as focus shifts to growing shareholder value.
