Reflect Scientific Secures $150,000 Blanket Order Contract from Long-Standing Biotech Client

Rhea-AI Summary

Reflect Scientific (OTCQB: RSCF) has secured a $150,000 blanket order contract from a long-standing biotech client for consumable products. The contract spans five months, with revenue recognition split between Q4 2024 and Q1 2025. The partnership, which began in 2015, has supported the client through their development phase and commercialization of technology. The consumable products are part of Reflect Scientific's core offering to the biotechnology sector, where they provide cryogenic cooling solutions for biotechnology, pharmaceutical, medical, and transportation markets.

Positive

• Secured new $150,000 contract for consumable products
• Revenue to be recognized across Q4 2024 and Q1 2025
• Demonstrates continued business relationship with existing client since 2015

Negative

• None.

OREM, Utah, Nov. 13, 2024 (GLOBE NEWSWIRE) -- Reflect Scientific Inc. (OTCQB: RSCF), a leading provider of innovative products and technologies for the biotechnology, pharmaceutical, and transportation industries, today announced the receipt of a $150,000 blanket order contract from an established biotech company client.

The contract covers consumable products to be delivered over five months, with revenues to be recognized in the fourth quarter of 2024 and the first quarter of 2025. This latest agreement builds upon a successful partnership that began in 2015, during which Reflect Scientific has supported the client through their initial development phase and subsequent commercialization of groundbreaking technology.

"This contract represents the continuation of a valued long-term relationship and demonstrates our products' essential role in our clients' operations," said Mr. Kim Boyce, CEO of Reflect Scientific. "Our ability to maintain and grow these established partnerships speaks to the quality of our products and the strength of our customer service."

The consumable products covered under this contract are part of Reflect Scientific's core product offering to the biotechnology sector, where the Company has established itself as a trusted supplier of critical materials and equipment.

About Reflect Scientific, Inc.
Reflect Scientific, Inc., based in Orem, Utah, develops and markets innovative, proprietary technologies in cryogenic cooling for the biotechnology, pharmaceutical, medical, and transportation markets. Among Reflect Scientific's products are low-temperature freezers and refrigerated systems for laboratory, transportation, and computer server room uses. Visit reflectscientific.com for more information. See us on Twitter @ReflectSci and LinkedIn www.linkedin.com/company/reflect-scientific.

Forward-Looking Statements
This press release contains 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. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainties and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of the disclosures contained in the filings of the Company that are contained in the OTC Markets Group, LLC under the trading symbol "RSCF" and related prior filings by the Company that are referenced therein and contained in the EDGAR Archives of the Securities and Exchange Commission under the heading "Disclosure," including those identified in such filings as "forward-looking statements."

FAQ

What is the value of Reflect Scientific's (RSCF) latest contract announced in November 2024?

Reflect Scientific (RSCF) secured a $150,000 blanket order contract for consumable products from a biotech client.

When will Reflect Scientific (RSCF) recognize revenue from the new $150,000 contract?

The revenue will be recognized across the fourth quarter of 2024 and the first quarter of 2025.

What type of products does Reflect Scientific (RSCF) supply under the new contract?

The contract covers consumable products that are part of Reflect Scientific's core product offering to the biotechnology sector.