There wasn't any shortfall of companies looking to sell some sort of personal protection equipment (PPE), sanitizer, purifier or something else to protect against nasty viruses during the coronavirus outbreak last year.
Product and services company Bantec, Inc. (OTCPK:BANT) jumped into the space too and actually made some durable headway, including recently selling its "ThinkLiteAir" air monitors to an unnamed Ivy League university through its Bantec Sanitizing division. The division also has publicized performing deep cleaning projects at a client's workplace where an employee has tested positive for COVID-19, as required by its home state's (New Jersey) law.
On Tuesday, shares of BANT are moving ahead following an arguably confusing press release disclosing substantial new contracts for it subsidiary, Howco Distributing. What was clear was that the Defense Logistics Agency's Division of Land & Maritime extended two contracts with Howco for an extra year. One was an extension of a $1.7-million contract, while the other lengthened a long-term $250,000 contract.
The new orders were a bit more difficult to decipher. The headline read "$95,000+" contract, while the paragraphed laid out two new orders, one for $86,000 and another for approximately $100,000. Presumably, the company landed about $186,000 in new contracts with the agency in addition to extending the independent contracts.
Whatever the actual contract total, the markets are responding positively. Shares of BANT shot ahead from Monday's close at 11.4 cents to as high as 17.4 cents in Tuesday morning trading. As the afternoon gets underway, shares are holding at 13.4 cents.
