After many months of testing, Xxsys Technologies has received the first
of what may result in numerous contracts from both The Department of
Transportation of the State of California (Caltrans), and from other
private entities. They have developed a device called a "Robo-
Wrapper," that permits freeway columns to be retrofit using their
patented carbon composite technology. The current standard using
"re-bar(sp?)" and concrete apparantly requires several days to complete
a single column while the "Robo-Wrapper" may do the same job in a few
hours. Though the materials are slightly more expensive it appears
that the time savings and greater tensile strength more than make up
for the additional expense. As Xxsys appears to have the only alternative
to an older and weaker standard (concrete and rebar), it appears that
many new Caltrans contracts may fall Xxsys' way. The market for column
retrofits both in the U.S. and Internationally appears significant.
The stock price reached 7 last year before falling to a low of 2 3/4.
Now on the news of the contracts Xxsys may begin to realize some of its
potential. Recently the share price has risen to 4 3/8 before slipping to
3 1/2. Any thoughts? |
