Sigma Labs Inc (OTCMKTS:SGLB) illuminated after securing a significant contract. The company engaged in the development of In-Process Quality Assurance software said that it has struck a deal with Honeywell.
Sale of PrintRite3D systems
As per the contract, Honeywell will acquire the company’s PrintRite3D system. Under the terms of the agreement, Sigma Labs Inc (OTCMKTS:SGLB) will also deliver and install its PrintRite3D Inspect software, which will comprise one license along with a year of maintenance.
The software will help Honeywell to test the same at its development facility, located in Phoenix. Additionally, the purchase contract also consists of Sigma Labs Inc (OTCMKTS:SGLB) ‘s DEFORM Software, which will be delivered on completion. Sigma Labs Inc (OTCMKTS:SGLB) did not specify or disclosed the financial terms of the contract. It only added that the contract is a separate agreement from its existing contract related to the America Makes research project.
Efforts are in line with the commitment
While reporting the development, Sigma Labs Inc (OTCMKTS:SGLB)’s President and CE, Mark Cola commented that the company is excited to share the contract details, which is its first commercial sale of PrintRide3D to Honeywell. Also, the contract will launch the company’s new DEFORM software too. \
Cola said that the efforts are in line with the company’s commitment made during the earnings call. He added that Sigma Labs Inc (OTCMKTS:SGLB) is actively engaged in marketing its software solutions and is also pitching its new metal 3D printing capabilities. He reassured investors that the year 2015 will mark a year of success for the company and will expand the company’s top line growth.
Following the release of the news, the stock of Sigma Labs Inc (OTCMKTS:SGLB) spiked higher by 8.50% to $0.115. The average trade volume of the shares stood at 2.11 million during the last trading day.