CORUNNA, Ontario, July 28, 2005 (PRIMEZONE) -- Megola Inc. (OTCBB:MGOA), confirmed today it anticipates timely filing of the company's audited financials for the period ending July 31, 2005. Furthermore, the company projected higher revenue guidance in its operations for its 2005 Q4 and year-end reports.
A leading environmental solution provider in physical water treatment, microbiological control, wastewater treatment and air purification, Megola forecasts revenue will be up by approximately 50% over revenue reported on the Company's last 2005 Q3 report (which set an all time high in sales revenue for a single quarter) and year-end totals will be up approximately 200% from the 2004 year-end totals.
"We are continuing to move in the right direction," said Joel Gardner, Chief Executive Officer of Megola Inc. "We have been reconfiguring our corporate structure by establishing our R&D facility in Germany and moving some of our manufacturing and assembly into China. Our continued focus on enhancing our distribution networks is reflected in our sales success this past quarter as we, once again, anticipate an all time high in revenue."
Megola will continue to experience strong growth as the company continues to expand its distribution network and product lines. With alliances with companies like BuyMax LLC Group, Dalian Bingshan H2O3 Environmental Solutions Co. and new product trials, Megola will continue to strive towards its objective of being recognized as a valuable asset in the environmental solution marketplace.
For more information about Megola Inc. please visit the corporate website (www.megola.com)
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.