Welcome to the Daily Picks! Where Uptick staff looks for new companies to feature, giving readers the opportunity to find new possibilities for their investment portfolios.
ORBT: Orbit International Corp.
Orbit International’s Electronics Group Receives Finalized Purchase Order for Approximately $830,000
Orbit International Corp. (OTC PINK: ORBT), an electronics manufacturer and software solution provider, today announced that its Electronics Group has received a finalized purchase order from a major prime contractor for approximately $830,000, for its displays. The Company initially received a letter contract in August 2016 for approximately $700,000 to commence the procurement of material while negotiations were ongoing for the final purchase order. Deliveries of the completed units are expected to commence in the fourth quarter of 2016 and continue through the third quarter of 2018.
Mitchell Binder, President and CEO of Orbit International commented, “The letter contract provided our Company funding in order to begin the procurement process to enable us to meet initial deliveries in the fourth quarter of 2016. Upon receiving the letter contract in August, we expected the final purchase order to be finalized in excess of $825,000; the final contract approximated $830,000.”
LLLI: Lamperd Less Lethal, Inc.
Lamperd Less Lethal, Inc. (OTC PINK: LLLI) today announces a new distribution agreement has been signed with Knesek Guns, Inc., (www.knesekguns.com), a well established, U.S. based distributor of the finest firearms internationally, specializing in military and law enforcement type weapons. Knesek Guns will carry the full Lamperd product line and begin their marketing campaign immediately. Knesek ships to all 50 states of the U.S. and exports worldwide.
Barry Lamperd, CEO of Lamperd Less Lethal stated, “The strongly rising demand for safer and more advanced security products we are seeing today is opening up more new opportunity and Knesek Guns has recognized this developing market trend. This will be the first time Knesek will be offering less lethal products to their extensive customer base. We are proud that Knesek management has selected Lamperd as their choice for less lethal security products after reviewing all other options. The Lamperd company is especially pleased to have Knesek’s new product representation at this time of significantly increasing market demand which is already impacting our sales and revenue growth. For the third quarter of 2016, Lamperd will report a 635% increase in revenues over the first six months of the year. We look forward to this revenue growth continuing as we go forward.”
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