Company has now posted all amended filings to OTC Markets and sees OTC Current status as imminent.
RESEARCH TRIANGLE PARK, N.C. (August 18, 2021) Today, Cyberlux Corporation, (OTC: CYBL), a leading provider of LED lighting and renewable energy technology solutions, released its second quarter of 2021 results which showed a significant increase in revenue year-to-year and demonstrated that the Company is accomplishing its growth milestones as it continues to recover from the impact of the COVID shutdown during 2020. The Company is now accelerating its growth through existing business channels, access to new markets, and through a Company-wide focus on acquisitions and joint ventures.
Cyberlux Corporation CEO Mark Schmidt commented:
During 2020, we took full advantage of the adversity presented by the unprecedented global shutdown and focused on the future of Cyberlux, where we were now and how we would grow. We re-envisioned what Cyberlux Corporation could be, what our company DNA could grow into, what competitive advantages we had inherent in our company after over a decade of Department of Defense (DoD) technology development and partnerships with the largest organizations in the world, including the U.S. Military, Boeing, and Cree. We also had significant sales and distribution experience with Walmart, Home Depot, Lowes and many, many others. Further, we now had a foundation in renewable energy and infrastructure projects, from the design and engineering required to build a solar power generation farm or a solar LED street light project, to the solar and lighting products required to execute.
Going forward, we envision Cyberlux as a company that is “Harnessing the Future” and not just “Harnessing the Future of Light”, as we previously described the business. Now we will drive operational growth with current and future technologies, through fundamental organic growth and through an accelerated acquisitions and joint ventures strategy to align with companies pursuing technology and product extensions to ours, all with significant future growth. In the course of developing advanced technology products, we have come to identify core technology and product companies, and now these companies can become Cyberlux growth catalysts. Now we are harnessing the future, building Cyberlux into a leading technology company.
The overall business environment so far in 2021 clearly shows we are in recovery from 2020, with Q2 revenues of $367,231 and income from operations of $591,868. We are also forecasting 2021 full year revenue as $5.1M across all business areas, with some upside opportunities in sight as well.
As we push forward with our Operation Alpha growth plan, we have three priorities: (1) drive growth through aggressive business development, acquisitions and joint ventures; (2) address our core target markets with our DoD products, new specialty technology capabilities, solar and renewables, and with emerging infrastructure projects; and (3) gain immediate business velocity by achieving OTC Pink Current status asap, continuing to build out our organization, focusing on our new business and new product pipeline, accelerating our South American projects and driving on our strategic IP development.
With the amended filings submitted today to the OTC Markets, we believe our Pink Current status will be granted next, which will serve as a catalyst for our next growth phase. We see a very exciting next six months for CYBL as we take advantage of the opportunities in front of us, including the upcoming 2-4 acquisitions in 2021, with the first one expected to conclude this month.
SECOND QUARTER ENDED JUNE 30, 2021 OPERATIONAL RESULTS
Revenues for the three months ended June 30, 2021 were $367,231 as compared to $ -0- for the same period last year due to the impact of the COVID shutdown. The Company recorded an income from operations of $591,868 for the six months ended June 30, 2021.
Operating expenses for the three months ended June 30, 2021 were ($153,681) as compared to $17,887 for the same period ended June 30, 2020. Included in the three months ended June 30, 2021 were the write-off of old liabilities in the amount of $231,625.
In addition, Cash flow provided by investing activities was $53,350 for the six months ended June 30, 2021.
About Cyberlux Corporation
Cyberlux Corporation (OTC Bulletin Board: CYBL), a leader in solid-state lighting innovation, has developed breakthrough LED lighting and energy efficiency technology, with solutions available today in U.S. government agencies, commercial markets and international opportunities. For more information, please visit www.cyberlux.com. For investor information, please contact: ir_cybl@cyberlux.com
SAFE HARBOR STATEMENT
This press release contains forward-looking statements that can be identified by terminology such as “believes,” “expects,” “potential,” “plans,” “suggests,” “may,” “should,” “could,” “intends,” or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company’s control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
SOURCE: Cyberlux Corporation