Flameret, Inc. (PINK:FLRE), supplier of flame retardant products, today announced that it is significantly upgrading its revenue projections for calendar year 2012.
The company based on the review of the possible sales channels, industry estimates and initial interest from the licensees and distributors, projects revenue of $45,000,000 for the year 2012.
The company in accordance with the management’s projections and estimates based on the current pipeline estimated that its gross margin would be equal or increase by 60% during the year.
The company expects to derive the initial revenues from the retail merchant and distributors in theUnited StatesandCanada, and further expects to realize revenues fromEuropeandAsiatowards the end of the year.
The company also derives interest from its work-wear apparel sector and the marine sector for its proprietorship flame retardant solutions.
The company would derive $25,000,000 of the $45,000,000 from applications within the work-wear clothing sector and the balance would be derived from sale of its marine products and general retail products.
Shares of FLRE closes 10.83% to lower to $0.0107.
Flameret, Inc. has developed fire retardant products to fit a wide range of applications which are commercialized under the brand names; Flamex™, Ultra Flamex™ and Impex™. The company’s products are patented and held in the name of United American Inc.
The company’s flame retardant products are used for the manufacturing of an array of textile applications, which include mattresses, bedding, furniture, and clothing.
The Company has further designed fire resistant textiles fire barriers for the USand other markets in the world. Since the company’s fire retardants are highly effective and non-toxic this has helped the company compete with its competitors.
The company is likely to sell its Fire Retardant and fire resistant applications to different industries like the fire resistant textiles industry, the military and the energy extraction industry [oil fields], the aviation industry, and forestry services.
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