Shares of Trutankless, Inc. (OTCMKTS:TKLS) have been moving within a narrow range over the past sessions. Here are major developments.
On Wednesday, TKLS stock ended flat at $0.72 with more than 80 shares, compared to its average volume of 907 shares. The stock moved within a range of $0.7200 – 0.7200 after opening trading at $0.72.
About The Company
Trutankless, Inc. (OTCMKTS:TKLS) develops accessible, next-generation home automation and efficiency systems. The main products are a batch of electric tankless water heaters that exceed traditional tank water heaters in energy efficiency, output, dependability, and environmental sustainability. They are sold to plumbing wholesale distributors and dealers throughout the United States.
Trutankless, Inc. Receives 1st Patent for its Next Generation Products
Trutankless, Inc. announced on June 15th, 2022 about receiving approval for its patent application with the U.S. Patent and Trademark Office (USPTO). It is for a High-Accuracy Response-Curved Flowmeter, which had been filed on February 5th, 2022.
The patent involves a new feature that addresses some of the issues with accurate performance at lower flow rates while maintaining accuracy throughout the range. The onboard memory contains several calibration K factors specific to each flowmeter produced, for use in a curve-fitted response by the intelligent controller, which allows for the storage of multiple K factors that are used to calculate a highly accurate K factor curve for the flowmeter.
Mike Stebbins, CEO & President, said that this proprietary tankless flowmeter provides excellent accuracy while keeping the costs low. It ensures better performance over competitive systems by using a curve-fitting algorithm. Thanks to previously unheard of minimum activation and accuracy at all flow rates, the responsiveness and new levels of efficiency with recirculation systems, which require heated water at less than one gallon per minute, are better than ever.
“Our proprietary tankless flowmeter is based on an all-new design, which provides high accuracy at low cost, translating into improved performance over competitive systems by using a curve-fitting algorithm. We’ve increased the performance of our modular design using this ground-breaking technology in our next generation tankless, since it provides the ability to be used in any application,” said Mike Stebbins, CEO & President.
Trutankless, Inc. Completes Spin-Off of Notation Labs, Inc.
In other news, Trutankless, Inc. has provided an update about the announcement on January 21st, 2022, regarding the notification from FINRA that they had received the necessary documentation to process the corporate action requested by Trutankless and its transfer agent, Pacific Stock Transfer. The revised payment date was January 24th, 2022, and Pacific Stock Transfer Company acted as a transfer agent to Trutankless and completed the Spin-Off of 100% of Notation Labs, Inc.
Every stockholder of record of Trutankless, Inc., got one share of Notation Labs, Inc. common stock on January 24th, 2022 for every four shares of Trutankless, Inc. common stock held on December 10th, 2021 record date. No action was needed of the stockholders to participate in the distribution and receive shares of Notation Labs common stock.
TKLS stock is trading below the 20-Day and 20-Day Moving averages of $0.91 and $1.11 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.8330.