The Platinum Research Organization (OTCBB: PLRO) had an excellent day on the boards today, rising around 20 percent after market open and staying there for the majority of the day – a rare feat for any company on the board.
The rise seems related to the recent news of the company’s first distribution agreement. According to a statement released earlier today, Platinum Research has just signed its first global distribution agreement for TechroBond, the company’s flagship product and the name the company as a whole is known for.
Under this agreement, the R.T. Vanderbilt Company Inc. of Norfolk, Conn., will market the TechroBrand brand of products across the world as a “cost-effective, performance enhancing anti-wear and extreme pressure additive for lubricating greases.”
Platinum Research claims that its TechroBond product is a “revolutionary additive” that can protect and enhance the performance of automotive lubricants and coatings; that, in the long run, it is safer for the car’s engine than many other commercial additives; and that its low-emission footprint makes it kinder and gentler to the environment.
John Jaeger Jr., the CEO and president of Platinum Research, was extremely glad for the opportunity to further TechroBond’s reach in the market.
“The use of TechroBond in industrial greases addresses an acute need in the marketplace, since costs of traditional anti-wear and [extreme pressure] additives have risen in recent years,” Jaeger said in the statement. “TechroBond products are much more cost-effective and exceed the anti-wear and [extreme pressure] protection of the traditional grease additives.”
Jaeger went on to say that the strategic relationship with R.T. Vanderbilt was “very important” and that it would allow Platinum Research to “begin generating revenues sooner.”
“For other aspects of our business, such as manufacturing and regulatory registrations, we have acted independently, but the many advantages that will come of this relationship with Vanderbilt made this decision an easy one,” Jaeger said.
Share prices for PLRO closed at 76 cents a share.
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