The Company provided investors and its shareholders revised guidance on revenues for the remainder of 2017 and for 2018, forecasting more growth quarter over quarter starting with the current period ending December 31, 2017.The Company announced its estimate of gross revenues for the following periods:
- Quarter ending December 31, 2017: Between $4.2M to $4.9M
- Year ending December 31, 2018: Between $23.5M to 25.0M
Milton "Todd" Ault, III, the Company's Executive Chairman, stated, "We are very pleased with the preliminary results of the third quarter which has shown improvement in revenues and sales. We are proud of what we have been able to accomplish since Philou Ventures' invested in the Company and became its largest shareholder. We believe we have kept our word and our promises to our shareholders, investors, employees and associates and look forward to what is planned for the remainder of 2017. It is our corporate ethos to always strive to surpass our goals and keep our promises to perform."On September 28, 2017, the Company filed with the Securities and Exchange Commission (the "SEC") its preliminary Proxy Statement announcing its proposed annual meeting of shareholders and a list of issues to be considered including a proposed name change to DPW Holdings while retaining its stock symbol. The Company is committed to an acquisitions and organic growth strategy and anticipates continuing to raise additional capital in the foreseeable future to fuel the engine of growth necessary to accomplish the Company's goals and strategy. About Digital Power Headquartered in Fremont, CA, Digital Power Corporation, through its subsidiaries, designs, manufactures and sells high-grade customized and off-the-shelf power system solutions. Our products are used in the most demanding communications, industrial, medical and military applications where customers demand high density, high efficiency and ruggedized power solutions. The Company's wholly owned subsidiary, Coolisys Technologies, Inc., is dedicated to providing world class technology-based solutions where innovation is the main driver for mission-critical applications and lifesaving services. Coolisys' growth strategy targets core markets that are characterized by "high barriers to entry" and include specialized products and services not likely to be commoditized. Coolisys, a developer and manufacturer that services the defense, aerospace, medical and industrial sectors, has three subsidiaries: Digital Power Limited, a wholly owned manufacturer based in Salisbury, UK.; Microphase Corporation, a majority owned subsidiary, with its headquarters in Shelton, CT 1-203-866-8000. Website: www.MicroPhase.com and Power-Plus Technical Distributors, a wholly owned wholesale distributor based in Sonora, CA 1-800-963-0066, Website: http://www.Power-Plus.com. Digital Power Lending, LLC, is a wholly owned subsidiary of the Company, is based in Fremont, CA, and is a California private lending company dedicated to strategically providing capital to small and middle size businesses for an equity interest in addition to loan fees and interest. Excelo, LLC is a national search firm specializing in fulfilling strategic executive, professional and hi-tech placements for businesses delivering world-class services. Digital Power Corporation's headquarters is located at 48430 Lakeview Blvd., Fremont, California, 94538; 1-877-634-0982. Website: www.digipwr.com . For Investor Relations inquiries: IR@digipwr.com, www.digitalpowercorp.com or 1-888-753-2235. Forward-Looking Statements The foregoing release contains "forward looking statements" regarding future events or results within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements concerning the Company's current expectations regarding revenues for the remaining 2017 and thereafter from contracts and operations on a consolidated basis, that the Company and its subsidiaries will be able to complete and fulfill orders pending completion and fulfilment to the U.S. Air Force or MTIX, Ltd. and earn in full the deferred revenues that may be recorded, that it will be able to meet its production for the MTIX product and develop a new line of accepted products and services targeting the specialized marketplace. The Company cautions readers that such "forward looking statements" are, in fact, predictions that are subject to risks and uncertainties and that actual events or results may differ materially from those anticipated events or results expressed or implied by such forward- looking statements. The Company disclaims any current intention to update its "forward looking statements," and the estimates and assumptions within them, at any time or for any reason. More information about potential risk factors that could affect the Company's business and financial results are included in the Company's most recent filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company's Forms 10-K, 10-Q and 8-K. All filings are available on the Company's website at www.digipwr.com.