Global Water Technologies prepares for growth in 2017
INDIANAPOLIS, January 5, 2017 -- Global Water Technologies (OTC Pink: GWTR) is taking steps to prepare for growth in 2017, including expansion of its consulting team and strategic positioning for deployment of smart water solutions.
The company outlined accomplishments over the past year in its annual shareholder letter that is posted on its web site and includes updates on work with non-chemical water treatment, smart water solutions and trenchless technologies.
The company also has issued new shares of restricted common stock to secure additional consulting services in the coming year. Those include business development services in the East Coast, West Coast and Midwestern United States and intellectual property legal services. As a result, the number of common shares has increased from 21,645,146 as reported at December 31, 2016 to 22,745,146 on January 4, 2017. The number of free-trading shares remains at 5,895,503.
As part of its move to raise capital and prepare for additional growth, the company also approved an issuance of stock warrants as part of an executive compensation package to be completed by June 30, 2017. The warrants to purchase 2,000,000 shares of common stock at the existing share price of $0.0155 expire in five years.
Global Water Technologies is also pleased to announce that it will participate in the first event for the North American Alliance of the Smart Water Networks Forum (SWAN) that will be held at Qualcomm headquarters in San Diego on January 25.
