Dakshidin Corp. (DKSC.PK) produces an advance style of windmill through its wholly owned subsidiary, RESTEC International Inc. The windmill, the RESTEC Mark 10, pumps more water at a lesser cost than existing windmills. The Company’s innovative windmills are able to work at any water depth and wind speed, making it a versatile product that can be used in a variety of locations.
There is a crucial need for safe water all around the globe. Many times the problem isn’t that there is a lack of available water, but that the water cannot be drawn at an affordable price. The World Health Organization has estimated that approximately 1.1 billion people do not have access to safe water. The economic growth and rising standards of living in developing countries are driving demand for wind energy products that can pump water cost-effectively. Mcllivaine Company has projected that world pump revenues will surpass $36 billion by 2010.
The Company is currently investing in a marketing program to demonstrate the potential of its windmills on a worldwide basis. Dakshidin has already signed distribution agreements for the US, the Caribbean, Africa, China and India along with a manufacturing/distribution joint venture in China. The management is aggressively promoting the novel technology in meetings with representatives from Mexico, China, the US, and a number of African nations.
In summary, the Analyst who completed the report stated, “As a result of its successful marketing campaign, the Company has recently announced several major new sales agreements, including a contract with Pacific Power Development Corp. (PPDC) valued at $48 million and two contracts with its joint venture subsidiary, HSK Wuhu together valued at $3.6 million. Taking into account the Company’s increasing revenue visibility, progress in building a global distribution network and manufacturing infrastructure, and fast-growing demand for wind energy products, we are initiating coverage of DKSC with a Speculative Buy rating and a $1.22 price target.”
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