TAMPA, FL--(Marketwired - Aug 21, 2017) - Umbra Applied Technologies Group (
Chief Executive Officer, Alex Umbra stated on a shareholder's call, "We are considering various ways to further bolster shareholder value with efficiency being critical to controlling costs, favorable product margins and mitigated operational expenditures. We expect to make more specific comments on our progress in this area over the course of the next two months."
Mr. Crom, UATG's Chief Financial Officer commented. "UATG has significant intellectual property purchased at a cost of $35 million as detail in footnote 6 of our Financial Statements. Recent news on the Hygeia product line has demonstrated UATG's ability to commercialize that intellectual property into new areas."
Mr. Umbra elaborated on UATG's intellectual property, "We have made significant progress on commercializing our technology in several areas particularly advanced textiles, intelligence platforms and the application of artificial intelligence. There is still work to do in these areas however, we are at an exciting period of time for UATG which has already seen significant institutional investment, improved market metrics as well as the 2017 product launch and workforce expansion as result of these technologies."
About Umbra Applied Technologies, Inc.
Umbra Applied Technologies is a member of the Umbra Applied Technologies Group (
For more information visit www.uatgroup.com or www.umbraappliedtechnologies.com
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Forward-Looking Information
This news release may include "forward-looking statements" including forecasts, estimates, expectations, and objectives for future operations including but not limited to its ability to conclude a business combination with a third party, sale of assets, return of capital or initial public offering and a secondary listing on the OTC as a result of aforementioned and its ability to fund the exploration of its assets through the raising of equity or debt capital or through funding by a joint venture partner that are subject to a number of assumptions, risks, and uncertainties, many of which are beyond the control of Umbra Applied Technologies including but not limited to capital markets and securities risks and continued development success on technology. There can be and are no actual or implied guarantees that any of the above activities will be completed or completed on terms acceptable to the Company and its shareholders or approved by any regulatory authority having jurisdiction. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Risks and uncertainties about Umbra Applied Technologies business are more fully discussed in the company's disclosure materials, including its MD&A, filed with the securities regulatory authorities in Canada and available at www.sedar.com and readers are urged to read these materials. Umbra Applied Technologies does not assume the obligation to update any forward-looking statement, except as required by applicable law.
Investor and Media Contact: Everest Corporate Advisors, Inc. (702) 902-2361 (702) 982-1339
