Hybrid Coating Technologies Inc (OTCMKTS:HCTI) shares were down 33.33% to $0.00020 and an additional 1.50% in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $1.00 so there’s significant upside for the stock. The company has a market cap of $99,807.00 at 499.05 million shares outstanding.
Hybrid Coating Technologies Inc is a development-stage company that is engaged in the business of manufacturing and sale of Coating Products. These serve as an alternative, non-isocyanate polyurethane, including coatings and raw binder ingredients consisting of Green Polyurethane Monolithic Floor Coating and Green Polyurethane Binder, and Sealant Products, including sealants and adhesives consisting of Green Polyurethane.
In particular, Hybrid Coating Technologies is focused on the Coatings, Adhesives, Sealants and Elastomers (C.A.S.E.) segment for industrial and commercial coatings applications. Its Green Polyurethane products are used in various applications, such as industrial and commercial buildings, civil applications for tunnels and bridges, warehouses, monolithic floorings for civil, industrial and military engineering, marine and aeronautic applications, and protective coatings inside industrial and commercial pipes. Nanotech Industries International Inc is a subsidiary of the company.
Before markets closed last year, Hybrid Coating Technologies Inc announced that it has received and shipped a pilot order to one of its European distributors as expected. This will be used to finalize field trials during the first quarter of 2017 and is the final step before the company starts to receive commercial orders in the coming months. It expects to receive approximately $800,000 for 2017 from this and other European based distributors, according to the company’s milestone press release in November last year.
We are very pleased to have received and shipped this pilot order,” said Joseph Kristul President and CEO of Hybrid Coating Technologies Inc, “This shows that the company is executing on its business plan and moving forward towards meaningful sales for 2017.”
A week before this, the company was featured in an article titled “A Perspective Approach to Sustainable Routes for Non-Isocyanate Polyurethanes” in the prestigious European Polymer Journal. According to Mr. Kristul, the feature could enhance their efforts as they move towards penetrating the European market through the various distributors they have been working with.
Back in October, Hybrid Coating Technologies Inc announced a partnership with Comex, a division of PPG Industries Inc to create a new coatings product utilizing Hybrid’s zero isocyanate Polyurethane technology. It was then launched in the Mexican market and sold in PPG-Comex stores in Mexico. Later on in the year, Comex launched a second coating product based on Hybrid’s zero isocyanate Polyurethane technology, demonstrating the ability for other companies to develop their own products based on the same technology and opening up more revenue potential for Hybrid Coating Technologies Inc.
However, the daily view of the stock reveals that it has had trouble recouping losses after the reverse split much earlier last year. Volume has significantly picked up, though, reflecting a rebound in investor interest as the company could see brighter days in the coming months. Note, however, that Hybrid Coating Technologies Inc is also strapped for cash at the moment so it will be interesting to see how it maneuvers through the new developments and taps into the growing market potential without losing its financial foothold.
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