Evolucia CEO Releases Shareholder Update
Currently, we are just starting to work through a $24 million backlog of our LED fixtures. Because of this growing demand, I have been working to establish additional partnerships with highly regarded companies in both Europe and the United States which will provide not only additional mass manufacturing capacities and distribution coverage but also sales for our growing line of LED fixtures. I have identified potential partners for both the European and the US markets, and negotiations have been extremely productive to date. I expect to finalize these partnership agreements during 2013, and have again challenged our team to start bringing these additional high-volume manufacturing capacities online before year-end 2013.
My vision for Evolucia is simple: efficiently expand our product offerings wrapped within a strong intellectual property framework, establish high-volume production capabilities, and create a significant pipeline of potential projects that can be converted into revenues and profits. We are launching seven new product lines: (1) the Generation 2 Aimed Optics Cobraheads; (2) the Nightwatch Dusk-to-Dawn series; (3) the Canopy and Highbay series; (4) the LED Troffer series; (5) the Explosion-Proof series; (6) the Parking and Area Lighting series, which includes the first ever 1,000 Watt replacement for high mast arenas and car dealerships, and (7) a complete line of high commercial grade, made in the USA, LED replacement lamps that include MR16's, PAR's, T-8, A-21 and A-19 lamps opening up the hospitality and restaurant market segment.
Over the next six months, Evolucia will meet the challenges of the digital age by adding fully integrated, controllable lighting solutions focused on applications for its current portfolio that will address the growing needs of both end users and specifiers. We have also increased our production capacities to more than 20 times what they were just a year ago while vastly improving quality. Additionally, we are building an impressive global pipeline of potential projects which represent the kind of geographic, channel, and customer diversity that is required in order to expand organically. I expect that the breadth and depth of our growing pipeline in conjunction with our product expansion and manufacturing capabilities will have a very positive impact on our financial performance this fiscal year and beyond.
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