HOUSTON, Dec. 28, 2022 (GLOBE NEWSWIRE) -- C-Bond Systems (the “Company” or “C-Bond”) (OTC: CBNT), a nanotechnology solutions company, today released a letter from its Chairman and Chief Executive Officer, Scott R. Silverman.
Dear Shareholders,
2022 was a year of growth and opportunity for C-Bond Systems! Our revenue increased significantly over 2021 and the geo-political and social landscape has opened a plethora of opportunities for our patented technology products.
The biggest growth opportunity for 2023 is school safety initiatives at the federal, state, and local levels. We have already installed our shooter attack film, C-Bond BRS, and forced entry application, C-Bond Secure, in approximately 100 schools in Texas and we have expanded our Patriot Glass Solutions (“PGS”) dealer network, which now includes 19 dealers, to multiple geographic regions.
Our PGS division was formed in July 2021 simultaneous with the acquisition of A1 Glass Coating of San Antonio, TX. As a leading distributor of C-Bond Secure and C-Bond BRS (ballistic-resistant system) window film solutions, A1 Glass Coating was a natural acquisition for C-Bond and now forms the foundation of PGS, led by Mike Wanke and his fantastic team in San Antonio.
With the horrible events in Uvalde, TX earlier this year (and other tragedies nationwide), it is important to emphasize how our technology can protect students and staff from shooters by fortifying the glass in the school entrance/vestibule and other areas, while providing a patented, independently certified solution. With the only competition coming from bulletproof polycarbonate, which is four times the cost, on average, and window film competitors without the patented C-Bond solution and certifications, we believe C-Bond BRS should be THE CHOICE nationwide for glass strengthening in schools. It is the mission of PGS to work with our dealers, partners, lobbyists, school boards, and government to accomplish this important school safety initiative.
C-Bond BRS is also a practical solution for government and law enforcement facilities, office buildings with a threat risk (e.g. media outlets), and residential applications.
PGS’ other main product is C-Bond Secure. This patented technology improves the adhesive bond between window film and glass and simultaneously strengthens the underlying glass. In addition, it is an improvement over soap and water as a slip agent in the application process of window film since it provides enhanced curing times. C-Bond Secure deters break in threats and fortifies store fronts and other locations by increasing forced entry access times to as much as two minutes. With the increase in crime nationwide, specifically smash and grabs, PGS is well positioned through its dealer network and otherwise to help protect businesses, schools, government buildings, and personal property nationwide.
Live demonstrations of C-Bond BRS and C-Bond Secure can be found on our website at cbondsystems.com and through these links:
https://youtu.be/gy2r9AmT5DY
https://youtu.be/Y66G-l9eHSY
https://youtu.be/G1PkILaKvwE
Also, be sure to visit the new PGS website at www.patriotglasssolutions.com.
Our Transportation Solutions Group is anchored by our proprietary windshield strengthener, C-Bond nanoShield™ (www.cbondnanoshield.com). With our recently issued December 2021 core patent, we believe C-Bond nanoShield is the only patented windshield protector on the market. The proprietary nanoShield solution is a spray on, squeegee off, simple two-minute application. nanoShield self-emulsifies in the microscopic flaws inherent in all glass. Windshields are more susceptible to flaws due to the heating and bending that is required during the manufacturing float line process. C-Bond nanoShield heals the flaws, strengthens the glass, and reduces the risk of windshield chips and cracks by an average of 40% and up to 80% in certain studies/tests.
While establishing a market for a new product sector – windshield strengthening (as opposed to water repellent/run-off) – has been challenging, nanoShield sales have grown year over year. This growth is driven by new car dealership sales in the F&I and service departments, warranty programs, trucking, and private label direct-to-consumer offerings. In 2023, special attention will be given to the warranty market as several of our partners are experiencing great returns and growth in this area.
Our Transportation Solutions Group also continues to sell MB-10 Tablets and Vimoba chlorine dioxide disinfectant tablets. In 2020, due to the pandemic, we decided to partner with Quip Laboratories as their exclusive distributor for these products in the transportation sector in the U.S. As a logical extension of our nanoShield offerings in transportation, some customers continued to buy these products this year even though disinfectant demand has diminished.
Overall, C-Bond had a great 2022. Revenue growth was substantial and the opportunity for 2023 could potentially be explosive, driven by the school safety sector and nanoShield growth initiatives. The Company and its executive management team are committed to long-term shareholder value. Management elects to take a substantial portion of their compensation in stock to align with shareholders. As we approach cash flow break even operating results, we remain committed to improving all financial metrics including but not limited to a stronger balance sheet and better financings, increasing shareholder value, and improving communication in 2023.
Our intellectual property portfolio is robust at 22 patents/patents pending/licenses. Several years ago, this portfolio was valued by a third-party, independent valuation firm at more than $33 million.
C-Bond started as a technology developer with intellectual property driven out of Rice University. We have evolved into a provider of proprietary security and safety technologies in the large glass sector. Our IP is strong, our products work, our distribution is expanding, and our prospects for 2023 are significant. Below is a list of key accomplishments from 2022. We thank you for your interest in C-Bond! Happy New Year!
2022 Highlights
- Entered into two private label supply agreements for C-Bond nanoShield
- Expanded exclusive distribution agreement with Quip Laboratories to include Vimoba Tablets, approved for use against SARS-CoV-2
- Received more than $500,000 of purchase orders to install security and ballistic film products in Texas schools and other locations
- Launched C-Bond nanoShield warranty program and new www.cbondnanoshield.com website
- Added multiple new dealers to its PGS network in 2022, bringing the total number of dealers to 19
- Received purchase orders to install C-Bond Secure at three separate federal government facilities for a total of more than $100,000
- Sold more than 5,000 applications of C-Bond nanoShield to a leading automotive warranty company
- Received a new purchase order in excess of $127,000 from Cotulla Independent School District in Texas to install C-Bond BRS and C-Bond Secure at various schools
- Sold more than $200,000 of C-Bond nanoShield™ year to date to a large distributor focused on the windshield warranty market
- Two Uvalde, TX schools chose C-Bond BRS and C-Bond Secure to protect their students and staff
To see a demonstration of Patriot Glass Solutions’ security products, watch our video at: https://bit.ly/3l93oZV
For more information about Patriot Glass Solutions’ products, please call 844-602-2663 or email Michael Wanke at mike@patriotglasssolutions.com.
About C-Bond
C-Bond Systems, Inc. (OTC: CBNT) is a Houston-based nanotechnology company and marketer of the patented and patent-pending C-Bond technology, which is independently proven to strengthen glass in automotive and structural applications. The Company’s Transportation Solutions Group sells C-Bond nanoShield, a liquid solution applied directly to automotive windshields, primarily through distributors. The Company’s Patriot Glass Solutions sells ballistic-resistant glass solutions and forced entry deterrent solutions to private enterprises, schools, and government agencies, primarily through its majority-owned subsidiary, A1 Glass Coating. The Company also sells MB-10 Tablets and Vimoba Tablets, disinfection products on EPA’s List N. For more information, please visit our websites: www.cbondsystems.com, www.cbondnanoshield.com, Facebook: https://www.facebook.com/cbondsys/ and Twitter: https://twitter.com/CBondSys.
Forward-Looking Statements
Statements in this press release about our future expectations, including the likelihood that the biggest growth opportunity for 2023 is school safety initiatives at the federal, state, and local levels; the likelihood that in 2023, special attention will be given to the warranty market as several of our partners are experiencing great returns and growth in this area; the likelihood that the opportunity for 2023 could potentially be explosive, driven by the school safety sector and nanoShield growth initiatives; constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and our actual results could differ materially from expected results. These risks and uncertainties include, without limitation, the Company’s ability to successfully commercialize its products; the effect of the COVID-19 global pandemic on the Company’s and its customers’ ability to operate; the Company’s and its customers’ ability to source materials; construction and labor delays; the Company’s ability to raise capital; regulatory risks; as well as other risks. Additional information about these and other factors may be described in the Company’s filings with the Securities and Exchange Commission (“SEC”) including its Form 10-K filed on April 15, 2022, its Forms 10-Q filed on November 14, 2022, August 15, 2022, and May 16, 2022, and in future filings with the SEC. The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law.
