ATWEC Technologies, Inc. (PINKSHEETS: ATWT) is pleased to announce that, at the current rate of sales and with new institutional clients, projected gross revenues for fiscal 2007 are forecasted to be $1.5 million or better, a near 1000 percent increase over 2006.
ATWEC’s gross revenues for fiscal 2006 were $156,210. The company became fully capitalized in April, enabling a significant increase in production. Sales this quarter were delayed by retooling of the production line, which was completed last week. A rollout of 200 units is scheduled for November 5, 2006.
Exponential growth is expected in the remaining quarters of fiscal 2007, based on the West Bend Insurance discount to its clients and new contracts with the Mississippi Headstart Association, the Louisiana Headstart Association and the Wisconsin Headstart Association. ATWEC will be outfitting all of the Associations’ current and future school buses and vans with its Kiddie Voice product. Projected revenues from these contracts are expected to be approximately $250,000 in the second quarter, $500,000 in the third quarter and $750,000 for the fourth quarter of fiscal 2007. The company’s current unaudited total debt is less than $30,000. Cash on hand is $500,000.
ATWEC signed two new master distributors last week in Minnesota and Georgia, moving closer to the goal of 200 master distributors nationwide by 2008. The complete list of master distributors can be found at the company’s website: http://www.atwec.com/.
NOTE: Certain statements made in this press release are forward looking statements within the scope of the Private Securities Act of 1995. Such statements involve known and unknown risks. Uncertainties and other mitigating factors may influence desired outcomes. Such risks, uncertainties and/or other mitigating factors include but are not limited to new economic conditions, risks associated in product development, market acceptance of new products and continuing product demand, level of competition and other factors both known and unknown as described within this Company's reports and other filings with appropriate regulatory agencies.
ATWEC PR Consultant