CORUNNA, Ontario, May 20, 2005 (PRIMEZONE) -- Megola Inc. (OTCBB:MGOA), a leading environmental solution provider in physical water treatment, microbiological control, wastewater treatment and air purification, announced today new, higher, revenue guidance in its operations for its 2005-Q3 Report.
Megola's audited quarter financials ending April 30, 2005, will be filed in accordance to SEC regulation dates. Revenue will be up by over 500% compared to revenue reported on the Company's 2005-Q2 Report, setting an all-time high in sales revenue for a single quarter.
"This is a step in the right direction. We have been revising our corporate structure by strengthening our R&D in Germany and relocating portions of product manufacturing and assembly to China. This quarter report will reflect our patience in establishing the proper channels necessary to become a successful company," says Joel Gardner, Chief Executive Officer of Megola Inc.
Megola will continue to experience strong growth as its distribution network and product lines expand. With alliances with companies like BuyMax LLC and with new product trials currently under way, Megola continues to strive towards its objective of being recognized as a valuable asset in the environmental solution marketplace.
Since going public in 2003, Megola (http://www.megola.com) has been attracting ever increasing amounts of interest from a variety of industries. The company is in the process of greatly expanding both the scope of its offerings and its reach throughout the global marketplace. Megola believes it can significantly boost its revenues through the continuance of this new business model.
The matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These risks are detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission including the company's Annual Report, Quarterly Reports and other periodic filings. These forward-looking statements speak only as of the date hereof. The company disclaims any intent or obligation to update these forward-looking statements.