Universal Proptech 🎯 Chief Growth Officer Frank Carnevale 📺 RICH TV LIVE
Channel: RICH TV LIVE
Date: 05/11/2021

Universal Proptech 🎯 Chief Growth Officer Frank Carnevale 📺 RICH TV LIVE - #universalproptech #upi #richtvlive #business #news #finance #trading #stocks #frankcarnevale NOVEMBER 5, 2021 - Universal PropTech Inc. (TSXV: UPI | OTCQB:UPIPF | FSE:8LH) (“UPI” or the “Company“) is pleased to provide updates on the execution of approximately CAD $3 million of the Company’s sales backlog over 3 months, producing approximately CAD $15 Million in distribution proposals by the Company’s distributors, and on indoor air quality equipment sales commission.

The CEO of UPI Chris Hazelton comments: “We had a very busy summer, and we are very appreciative of our staff who literally worked around the clock for our customers considering the state of the pandemic”. Chris Hazelton continued: “Our sales staff remains committed to growing our sales backlog and we look forward to increased orders from new and existing clients both in Canada and in the United States”.

 

Sales Backlog

Over the course of the summer the company has begun to work diligently through its CAD $6 Million in sales backlog (please see the Company’s press release dated July 12, 2021). Over the period of three months from July to September, the Company had delivered on approximately CAD $3 Million of the backlog. The Company’s end of September sales backlog, awarded work yet to be completed, stood at approximately CAD $4.5 Million.

Sales backlog does not include any ongoing service work executed for customers, as those revenues are recorded separately from sales backlog. Full revenue will be reported in regularly scheduled quarterly and annual financial result disclosures.

 

Distribution Update

The Company would also like to inform investors that the Company currently has approximately CAD $15 Million worth of proposals which have been issued over the last 45 days to prospective clients through its distributors of Air Sniper products for air purification equipment. The Company’s distributors are awaiting responses from school administrators across Canada and the US. There can be no assurance that any outstanding proposals will result in awarded sales.

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