Lapolla Industries Inc (OTCQX: LPAD) is a Houston-based supplier of energy saving products and spray foam insulations. The company announced today that they had qualified to begin trading as a member of the OTCQX Best Market, which is operated by OTC Markets Group. The company’s President and CEO, Douglas J. Kramer, has stated that the move is important in “our investor outreach commitment” and that joining the OTCQX will “allow for greater exposure, accessibility, and liquidity from the investment community”.
Lapolla is the first manufacturer in the world to produce and sell a 3rd party test and approved wall foam insulation, which utilizes innovative HFO technology. Lapolla has taken steps to improve their visibility and has even added Ty Pennington as their celebrity spokesman. The company released their 2015 year end earnings in March of this year. The company’s sales increased from $72,065,015 in 2014 to $78,649,319 in 2015. They also experienced an adjusted EBITDA increase of 710%. For 2014, Lapolla’s adjusted EBITDA was $504,961. In 2015, the figure increased to $4,087,697.
Over the past 52 weeks, the share price for LPAD has fluctuated between .125 cents and .57 cents. On Friday, the price decreased 2.31% to settle at .4785 cents. Aside from spray polyurethane foam insulation, Lapolla also sells reflective roof coating and equipment, which is capable of reducing energy consumption. The company caters to all markets, including residential, industrial and commercial. To learn more about Lapolla and their products, be sure to check out the company’s official website at Lapolla.com.