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 November 12, 2015 - 3:01 AM EST
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Audit of First OriginClear Acquisition Confirms Profitable Subsidiary With $6 Million Revenue

Tweet this: Audit of first @OriginClear acquisition shows profitable with $6M revenue in 2014; same expected in 2015

OriginClear Inc. (OTC/QB: OOIL), a leading provider of water treatment solutions, today announced the completion of an independent audit of its subsidiary, Progressive Water Treatment, Inc. (PWT). The independent audit was disclosed in a Form 8-K filed with the SEC and reported that PWT’s 2014 sales were $6,075,108, with net income of $813,747, or a 13.4 percent net profit margin.

“The independent audit showed, as expected, that PWT is a solvent and profitable water treatment company, with annual revenues of about six million dollars, which it expects to repeat this year,” said Bill Charneski, President of the OriginClear Group™. “We look forward to PWT making a significant contribution to OriginClear’s revenue and profits, beginning with the fourth Quarter of 2015.”

OriginClear closed the acquisition of PWT on October 1, 2015 and was required to complete the independent audit before mid-December. It was the first transaction in OriginClear’s corporate strategy to rapidly acquire leading U.S. water service companies focused on specialized water treatment.

“The Board is very satisfied with the speed of the acquisition and the quality of the work,” said Riggs Eckelberry, CEO and Chairman of the Board of OriginClear. “Bill Charneski identified PWT in April, and we announced a Definitive Agreement in August. And we closed the acquisition less than two months later – that sets a great standard.”

The company’s expansion plans are discussed in its presentation, “Today and Tomorrow – The OriginClear Group”, available on the company’s home page.

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About OriginClear, Inc.

OriginClear is a leading provider of water treatment solutions and the developer of a breakthrough water cleanup technology serving the rapidly growing $500 billion world market. Through its wholly owned subsidiaries, OriginClear provides systems and services to treat water in a wide range of industries, such as municipal, pharmaceutical, semiconductors, industrial, and oil & gas. To rapidly grow this segment of the business, we strategically acquire profitable and well-managed water treatment companies, which allow us to expand our global market presence and technical expertise. To enable a new era of clean and socially responsible water treatment solutions, we invented Electro Water Separation™, a breakthrough high-speed water cleanup technology using multi-stage electrolysis, that we license worldwide to water treatment equipment manufacturers. Water is our most valuable resource, and the mission of the “Family of OriginClear Companies” is to improve the quality of water and help return it to its original and clear condition. To learn more about OriginClear®, please visit our website at

OriginClear Safe Harbor Statement:

Matters discussed in this release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this update, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with our history of losses and our need to raise additional financing, the acceptance of our products and technology in the marketplace, our ability to demonstrate the commercial viability of our products and technology and our need to increase the size of our organization. Further information on the Company's risk factors is contained in the Company's quarterly and annual reports as filed with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.


Audit of first OriginClear acquisition confirms profitable subsidiary with $6 Million revenue; 2014 numbers are profitable and forecasted to repeat in 2015

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Sarah Mier, 415-977-1947
Investor Relations OriginClear:
Tom Becker
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Source: Business Wire (November 12, 2015 - 3:01 AM EST)

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