TTZ hit fifty cents todayTTZ hit fifty cents today.
Okay, this explains part of the recent rise, but I still see it as over valued.
Total Telcom enters Water-TraX supply deal
Mr. Neil Magrath reports
TOTAL TELCOM ENTERS INTO PRIVATE LABEL MANUFACTURING AND SUPPLY AGREEMENT WITH A LEADING GLOBAL INSTRUMENT TECHNOLOGY COMPANY FOR ITS PROPRIETARY WATER-TRAX PRODUCTS AND SERVICES
Total Telcom Inc. has entered into a non-exclusive, private-label manufacturing and supply agreement with a leading global instrument technology company (the partner).
Under the terms of the agreement, Total Telcom will supply the partner with its user-branded Water-TraX hardware and software telematics solutions. The partner will then sell these products to its own wide-ranging global customer base. Additional terms of the agreement dictate that Total Telcom will host the website and retain all communication revenues.
Water-TraX is Total Telcom's proprietary advanced satellite telemetry device operating on the Iridium global satellite constellation, specifically designed for water management and environmental monitoring. Water-TraX has multiple industrial and environmental applications as it can be used to track and measure the quality and frequency of water and air/wind and weather patterns, soil erosion, moisture, and chemical applications.
This strategic partnership marks an important milestone for Total Telcom as it will be the company's first global product launch. Worldwide, climate change is contributing to environmental issues that are driving up the demand for advanced water and weather data monitoring solutions that are beyond the limited coverage of traditional cellular-based telemetry systems. The global launch of Water-TraX provides the most cost-effective, versatile and easy-to-install satellite telemetry system for advanced water and weather monitoring.
The Water-TraX product provides Total Telcom with two revenue streams, stemming from both the sale of the Water-TraX hardware and continuing recurring revenues from corresponding data tracking and monitoring services.
The company anticipates the shipment of the first order of the Water-TraX hardware to its partner to commence in the first fiscal quarter of 2024.
Neil Magrath, chief executive officer of Total Telcom, commented: "After dedicating 18 months to the development of our proprietary Water-TraX technology, this pivotal milestone is an example of how quickly our product is gaining industry acceptance and approval. We are working with a number of other major instrument manufacturers, and it is these types of unique partnerships that are key to our growth strategy as they allow Total Telcom to expand into global markets with scale. We are committed to providing our partner with the most innovative and effective telematics solutions, and we look forward to a productive and successful partnership."