Dalrada Financial Corporation Update

SAN DIEGO, June 8, 2020 /PRNewswire/ -- As business shows signs of return from the global disruption experienced in Q1 and Q2 of this year, Dalrada Financial Corp. (OTC Pink: DFCO) is providing an update to its shareholders and the public on its portfolio companies. Included in this update are sales forecasts and status of Dalrada Financial Corp.'s global footprint of companies.

LIKIDO LIMITED – Headquartered in Edinburgh, Scotland with operations in Loanhead, along with other established locations in Hong Kong and Malaysia, Likido Limited (Likido), is a low carbon, green energy engineering and manufacturing company. Likido uniquely holds the potential to replace traditional water heaters, steam boilers, chillers and cooling towers while reducing energy consumption and carbon emissions by more than 75%. Likido technology provides one of the few recognized routes to achieving zero carbon emissions in the heating and cooling sector.

Due to the lockdown, Likido experienced a hold on all manufacturing, procurement, and delivery of supplies. Delays in shipping existing customer orders and acquiring new customers resulted.  However, the business disruption in Q1 and Q2 did generate new public awareness of carbon emissions. Likido feels that it is critical to bring to market alternative solutions as countries and states enforce new post-lockdown emission regulations.

Likido focused on sales strategy and planning during the lockdown. The Company is noticing significant progress with new opportunities and production has been restored, with a revenue forecast of $1MM for the calendar year 2020, that includes an anticipated 20 shipments of the Likido RTCS and CRYO, Likido KITs, and Likido ONE machines.  Dalrada Financial Corp. looks forward to providing an update on Likido opportunities shortly. 

DALRADA PRECISION –  Dalrada Precision is a Malaysia-based precision components and parts manufacturer that supplies assembly parts to OEM manufacturers and to Dalrada's portfolio of industrial companies. Due to Dalrada Precision's factory location and difficulty shipping overseas during the lockdown in Q1 and Q2, customer orders and quality checks significantly slowed due to worldwide manufacturing and development stoppage.  Dalrada Precision's Malaysian manufacturing facility paused production, along with its customers that faced similar supply chain and manufacturing issues. 

On a positive note, Dalrada Precision's overseas facility presents a significant cost-savings to domestic components and parts sourcing. Business is showing signs of return; Dalrada Precision has received approval on additional products and has sampled products from new customers that have expressed interest in placing recurring orders.  Dalrada Precision has adjusted revenue forecast for the calendar year to $250,000.   

DALRADA HEALTH

Dalrada Health's primary focus is solving world health problems. With the outbreak of COVID-19, the use of hand sanitizer products is at monumental proportions. Dalrada Health's GlanHealth offers a new alcohol-free sanitizing product. The GlanHealth product line includes:

• Hand Sanitizer Foam, Wipes and Spray
• Advanced Sanitizing Soap
• All Purpose Advanced Surface Cleaner
• Antimicrobial Wound & Skin Therapy
• Mold and Mildew Sanitizing & Prevention
• Laundry Sanitizing & Deodorant

GlanHealth launched this full line of anti-bacterial, anti-viral and disinfectant products for consumer and commercial use during the Q1-Q2 lockdown. Despite raw material and product material shortages and high-customer demands, GlanHealth overcame these challenges. The Company secured additional sanitizing spray service contracts along with additional services. This was made possible by leveraging GlanHealth's flexible operational capabilities to satisfy customer needs. 

GlanHealth has also begun new testing protocols for the Company's hand sanitizer and surface sanitizer products. The Company is expanding its product line to address increased market demand.  Due to the volume of newcomers in the sanitizing industry, GlanHealth feels that companies that take shortcuts are short lived . GlanHealth is committed to following a strategic approach to building a sustainable business model with a target forecast of $1.5MM for the calendar year 2020.

VIA KITS – Cervical cancer is the second most common cancer in women worldwide. Dalrada Health filed its patent in India and also a provisional patent in the U.S. for Visual Inspection with Acetic Acid (VIA) kits. These are designed to be accessible and affordable.

Clinical studies in India on Dalrada Health's VIA kits were paused due to the COVID-19 outbreak.  As operations return to normal, Dalrada Health is focusing on finishing the first trial of 100 patients that will include a clinical report.  To conduct a second clinical trial with a target of 200 patients, Dalrada Health must find a new facility; camp clinics are now limited to the number of patients that can participate as well as selectivity of new protocols. The updated expectation to launch the VIA kits is forecasted for the fourth quarter of the calendar year.

NEW PRODUCT LINES – During the lockdown, Dalrada Health researched and developed plans for new products and services as part of the Dalrada Health roadmap rollout.  These new products focus on surrounding population health and informatics.

PRAKAT SOLUTIONS – Prakat Solutions Inc. (Prakat) is a technology solutions provider that is committed to empowering individuals with disabilities. The Company specializes in making websites, mobile applications, and electronic documents easily accessible for those with auditory, cognitive, neurological, physical, speech, and visual disabilities.

Prakat's core competencies include product engineering, test engineering, accessibility engineering, and application modernization. Areas of focus include assistive and adaptive technologies, testing and automation, accessibility readiness, accessibility engineering, and legal compliance of accessibility standards (W3C and other country-specific regulations such as the American Disabilities Act (ADA), British Standard 8878 (BS 8878), and the Canadian AODA).

During the lockdown in Q1-Q2, Prakat experienced customer drawbacks and new business deals that were placed on hold. Prakat forged ahead with its focus on mobility and remote access technologies and services. This resulted in gaining new business opportunities with mobile app development, salesforce implementation, and test engineering.  In addition, Prakat's business model with remote technologies has initiated plans for engaging more U.S. based customers to create sales and consulting opportunities, that should position the company to reach forecasts of $1.5MM - $2.0MM for the calendar year 2020.

About Likido Limited
Likido is an international technology company, developing advanced solutions for the harvesting and recycling of energy. Using its novel heat pump systems (patent pending), Likido is revolutionizing the renewable energy sector with the provision of innovative modular process technologies to maximize the capture and reuse of thermal energy for integrated heating and cooling applications. With uses across industrial, commercial and residential sectors Likido seeks to provide cost savings and to minimize carbon emissions across supply chains. Likido's novel technologies enable the effective recovery and recycling of process energy, mitigating against climate change and enhancing quality of life through the provision of low-carbon heating and cooling systems.  For more information, please visit www.likido.net.

About Dalrada Precision
A subsidiary of Dalrada Financial Corp., Dalrada Precision has been focused on solution-based engineering and the customer experience from day one. By continually delivering on its promises, the Company has created trust while building mutually-successful long-term relationships.

Dalrada Precision is a team of highly-trained and committed individuals. The company takes pride in solving the unique challenges of its customers and constantly improves and enhances its machining and manufacturing capabilities, ultimately becoming a key strategic partner of many businesses. For more information, please visit www.dalradaprecision.com.

About Dalrada Health
A subsidiary of Dalrada Financial Corp., Dalrada Health is focused on solving health problems around the world. The company develops products and services that address the unmet needs of consumers due to accessibility, affordability, or availability. With operations in the U.S., Malaysia, and India, Dalrada Health can reach underserved markets through strong partnerships and the development of efficient supply chains. Dalrada Health is committed to solving universal health problems through improved methodologies resulting in products and services that benefit the global marketplace.  For details, visit https://dalradahealth.com  

About Prakat Solutions
Prakat Solutions Inc. is a technology solutions company specializing in test engineering, accessibility engineering, product engineering, and application modernization. The company partners with clients to create transparent, value-based relationships by leveraging the extensive experience of its team and by providing innovative solutions in a wide range of technology domains that ultimately enable customers to successfully attain their business goals. The Prakat work culture is based on the belief that, "we believe in what we do; we do what we love." Prakat is an ISO 9001-certified company with several Fortune 1000 customers. With its main engineering center in Bangalore, India, the company also has offices in Dallas, Texas, Denver, Colorado, and San Diego, CA. The Prakat team provides end-to-end product engineering services across various domains including banking and financial services, telecom, retail, healthcare, manufacturing, legal, and IT infrastructure. For more information, please visit www.prakat.com.  

About Dalrada (DFCO)
Dalrada Financial Corp. (OTC Pink: DFCO) solves real-world problems by producing innovation-focused and technologically-centered solutions on a global level. Delivering next-generation manufacturing, engineering, and healthcare products and services designed to propel growth, Dalrada is a team of industry experts and an organization built upon a strong foundation of financial capital. The Company and its subsidiaries are positioned for stable long-term growth through intelligent market research, sound business acumen, and established operational infrastructure. For more information, visit www.dalrada.com or call 1-858-283-1253.

Disclaimer

Statements in this press release that are not historical facts are forward-looking statements, including statements regarding future revenues and sales projections, plans for future financing, the ability to meet operational milestones, marketing arrangements and plans, and shipments to and regulatory approvals in international markets. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the U.S. Securities and Exchange Commission ("SEC"), including its annual report on Form 10-K. 

SOURCE Dalrada Financial Corp.

Related Links

http://www.dalrada.com