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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? | ||||||||||||||
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