ZHENJIANG, China, Aug. 12, 2016 /PRNewswire/ -- Delta Technology
Holdings Limited (NASDAQ: DELT) today issued the following
letter to its shareholders:
Dear Delta Technology Shareholders:
You probably have seen or heard about two news releases your
Company recently issued about a new direction for Delta
Technology. We are dedicating ourselves to solving a major
global problem, hunger.
We know that the world has to produce more food crops for
future population growth. Also
we know that some 40 percent of the world's food crops are lost
each year due to plant diseases, according to Wikipedia.
The Company has dedicated existing resources and facilities
to the production of prothioconazole, a germicide used to prevent
and cure crop disease. We already manufacture two of the
primary raw material components for prothioconazole, a systemic
fungicide. This product is safe, non-toxic to embryos, and
harmless to humans and the environment but deadly to the
diseases that destroy crops.
We expect annual sales of $100
million from the new product within a three-year period after the launch in the third quarter of
calendar year 2017. There is only one other company in the world
making this product. Billions of dollars are spent annually to
reduce crop disease and much of this money is simply wasted on
products that do not work, according to Wikipedia. We have
completed multiple bench and pilot tests and have successfully produced this
compound. We believe that we
have the expertise and the right team to make this succeed.
We project revenues of $66.5
million from July 2016 to the
end of June 2017 and positive net
income while we make the progress needed on our new product and
shift to become a biotech leader.
We are exploring ways to use our expertise and our talent to
refocus the Company into a biotechnology giant. Because of our
talent and teamwork we have a great potential to invent and develop
new products, especially in the agricultural sector. We ask
our investors to have patience and to watch carefully as we
continue to tell the investment world about our successes.
Thank you.
Sincerely,
Chao Xin
Chairman & CEO
About Delta Technology Holdings Ltd.
Founded in 2007, Delta Technology is a leading China-based chemical company producing and
distributing organic compounds. The end application markets of the
Company's products include 380 clients in the automotive,
pharmaceutical, agrochemical, dye & pigments, aerospace,
ceramics, coating-printing, clean energy and food additive
industries. Delta Technology has approximately 300 employees, many
of whom are highly-qualified experts and technical personnel. The
Company serves more than 380 clients in various industries and has
announced its plans to move into the Biotechnology sector.
Safe Harbor Statement
This press release may contain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These statements are subject to known and unknown risks,
uncertainties and other factors that may cause actual results,
performance or achievements to be materially different from any
future results, performance or achievements expressed or implied by
such forward-looking statements. Statements preceded or followed by
or that otherwise include the words "believes," "expects,"
"anticipates," "intends," "projects," "estimates," "plans," and
similar expressions or future or conditional verbs such as "will",
"should", "would", "may" and "could" are generally forward-looking
in nature and not historical facts. Forward-looking statements in
this release also include statements about business and economic
trends. Investors should also consider the areas of risk described
under the heading "Forward Looking Statements" and those factors
captioned as "Risk Factors" in DELT's periodic reports under the
Securities Exchange Act of 1934, as amended, or in connection with
any forward-looking statements that may be made by DELT.
Contact: Paul Knopick
pknopick@eandecommunications.com
940.262.3584 (Texas, USA)
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SOURCE Delta Technology Holdings Limited