SAN DIEGO, March 6, 2019 /PRNewswire/ -- Dalrada Financial Corp. (OTC Pink: DFCO) Dalrada's wholly owned subsidiary Dalrada Precision has succeeded in receiving further purchase orders and forecasts exceeding $2 million for components from its first major client.
Additionally, the company is in final negotiations and qualification processes with five additional multinational companies. If successful, the sales backlog would exceed $10 million in fiscal year 2019.
Dalrada Precision CEO David Pickett said, "Progress is exceeding our expectations with our sourcing strategy, and we are continuing to seek strategic partners to further enhance our Internal Strategies. While actual sales revenues may not generate the total sales backlog we are confident that our run rate will match our forecast."
Statements in this press release that are not historical facts are forward-looking statements, including statements regarding future revenues and sales projections, plans for future financing, the ability to meet operational milestones, marketing arrangements and plans, and shipments to and regulatory approvals in international markets. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the U.S. Securities and Exchange Commission ("SEC"), including its annual report on Form 10-K.