August 22, 2008 -- Environmental Solutions Inc. (Other OTC:EESO.PK) -- The following letter was sent by Jared Hochstedler CEO of Enzyme Environmental Solutions Inc., to the shareholders of EESO.
Dear Shareholders, Since beginning in early 2008, I have seen EESO move from dream to reality. It has been a difficult road, one of which we continue to travel. The world's economies are in turmoil, unemployment is rising and financial markets have all but melted down, making reasonable financing extremely tight and difficult to obtain. However, all of that being said, I am encouraged with the progress we have made and wished to take this opportunity to update everyone on some major steps that EESO is about to embark on.
At the end of June 2008 I announced the signing of a letter of intent with VESCOR for the sale of the GC 2000. However, during the discussions and negotiations with VESCOR and with end user companies, it became increasingly clear to me that proceeding down the path I originally planned would have been extremely foolish in the long term planning and growth potential for EESO and our shareholders.
Therefore, after careful consideration the Senior management of VESCOR and I have decided instead of selling the process to a larger company and then get a small percentage of the ongoing revenue from the sale of the separation units, we would build the prototype separation unit ourselves instead of selling the rights. This decision while it will slow the project down in the near term, I believe will add greater value to the company in the long term.
After doing additional market research we realized that the GC2000 project has much higher potential than originally thought. In addition, we have developed international and national contacts that have shown interest in seeing a completed prototype. This will allow us to be in charge of the end sales and demand a much larger profit for the technology. Whereas, the initial GC2000 project was being marketed at $7 million, of which EESO would have received 25%, by staying in control of the technology we believe the technology will potentially be worth closer to $30-40 million on an initial payment. Of course I fully intend to structure all future involvement with continued residual income for the life of the project.
During the negotiations it just became clear that we had not fully understood the tremendous value of the GC2000 technology and all of its applications. The estimated cost of the prototype including any additional testing could be up to $900,000 and I anticipate having a working prototype by the end of the year. I am happy to report that even though reasonable financing terms are difficult to obtain, I have negotiated and secured a line of credit up to $700,000. This line of credit will be in the form of an 8% interest only note maturing in one year. Our ability to negotiate these kinds of term shows the strength of our financial situation. The additional capital will be raised as needed, as part of the financing terms I must increase the authorized shares.
We continue to build the wholesale network of our sustainable product lines. The new website is taking a little longer than I had hoped for, but once completed each product page will have a demonstration video along with profiles and MSDS sheets available to be printed out. Additionally, I have contracted to have EESO products featured in 2 movies that are scheduled to be produced later this year enhancing the national awareness and credibility of the company. We are working on getting pioneers in the green movement as well as actors/actresses to endorse our product lines. With these endorsements comes credibility and our ability to leverage their contacts to increase sales. I look forward to releasing the names of the individuals once available.
Regarding the stain pen, I am happy to report that demand is growing. One of our largest customers at the last minute requested that we make a slight change to the graphics on the wipeout stain pen. This request delayed production by several weeks, however should produce positive affect on orders going forward. To date we have booked orders of over 500,000 pens.
Shipments of product to Convenience stores are progressing and products are being placed on the shelves at several stores. We also have just been added to a major restaurant equipment supplier for all of our cleaning products. This promises to open many other doors for future sales. And finally, the farm is currently being converted to an odor free farm so that we can use it as an example for international as well as domestic guests wishing to see the end result.
I would like to thank everyone for their patience as we build EESO. Please rest assured, my goal has always been to create long term shareholder value. These are exciting days and I am very optimistic as we continue to grow.
Best Wishes, Jared Hochstedler
August 20, 2008 - Zcom Networks, Inc. (Pink Sheets:ZCMN) today announces that its subsidiary Pam TV International, Inc., a Washington DC provider of TV, radio, music and live streaming programming viewed around the world, has finalized a distribution agreement with Extreme Rewards Plus of Melbourne Beach, Florida to distribute and promote the EnviroMax Plus in the United States under the Brand Name Super Fuel. EnviroMax Plus is a Patented Fuel Catalyst with over 13 years of research, testing and successful use. EnviroMax Plus works in all blends of regular gas, diesel, bio-diesel, gas/oil mixture, heating oil and propane. When you add EnviroMax Plus to your fuel, your fuel burns more efficiently. Efficient combustion results in increased fuel economy of up to 10% or more and reduced emissions. Pam TV International, Inc. in conjunction with Super Bazar has produced two infomercials and one commercial, which are scheduled to be broadcast on Pam TV, E2 Channel, and OITV.
Pam TV, a subsidiary of Zcom, offers a wide range of television, radio, talk, and music programming through a multimedia, interactive broadcast platform that brings together the internet, traditional radio and satellite television and radio. As its foundation, the platform offers a multi-portal, multi-station, multi-channel internet broadcast web presence featuring a growing list of television, radio, and music stations.
August 22, 2008 - Amiworld, Inc. (OTCBB: AMWO), an international energy company engaged in the production and distribution of diversified fuel products and services with a focus on emerging global economies, today announced several key strategic initiatives for the balance of fiscal 2008 and 2009.
"While the past year has been gratifying in terms of development and the rapid building of revenues, our initiatives over the next year will allow us to realize our aggressive short-term revenue and earnings goals as well as establish a long-term basis to maintain or exceed our outstanding growth to date," said Mamoru Saito, Chief Executive Officer of Amiworld.
With Amiworld's primary focus remaining on the expansion of its energy production and distribution facilities to full capacity, management today released several key initiatives that will extend the Company's high growth through the balance of 2008 and beyond.
Mr. Saito outlined the initiatives for the remainder of fiscal 2008 and for 2009:
* Continuation of announced facilities' expansion to triple diesel and biodiesel production.
* Establish increased crude and palm oil inventories to meet rising demand from current and new contracts.
* Build oil-trading fleet by leasing and purchasing ships.
* Explore plant expansion to establish an in-house 5/95 blending facility.
* Completion of the NASDAQ listing process.
* Work with the Port Authority in Santa Marta, Colombia, to improve infrastructure to facilitate the increased movement of energy products.
August 22, 2008 -- Effective September 1, 2008, or as contract terms allow, Chemtura Corporation(NYSE:CEM) will increase the base price of its organotin stabilizers globally by 6%.
Previously announced increases have scarcely kept pace with the unprecedented escalation in tin metal prices, and, indeed, tin remains at historically high levels. While tin is a major component of organotin stabilizers, the cost of other raw materials such as energy, oil derivatives and sulfur, have also escalated dramatically. The increase is therefore necessary to offset the cost of these "non tin" raw materials.
Chemtura has worked closely with customers to minimize the impact of this extraordinary raw materials inflation. However, it is essential to implement price increases to cover inflation in order to remain as a reliable supplier for the long term. Chemtura remains committed to the tin stabilizer industry and will continue to strive to provide customers with the best possible value.
Market wrap for August 22, 2008 -
Stocks finished the week on a strong note, but the lack of volume suggested there was little conviction behind the buying.
Interest in the financial sector waned, though, when Moody's Investors Service downgraded the ratings on preferred shares of Fannie Mae (FNM 5.00, +0.15) and Freddie Mac (FRE 2.81, -0.35) to Baa3 from A1.
Traders were also encouraged oil prices rolled over in the face of a strengthening dollar, profit-taking, and news shipments are flowing again through a previously closed Turkish pipeline. Crude climbed more than 5% yesterday, but reversed the advance to finish below $115 per barrel. Crude remains nearly 20% higher year-to-date.
The drop in oil prices fueled buying in airline stocks and oil sensitive areas like consumer discretionary stocks. The Amex Airline Index finished 8.2% higher and the consumer discretionary sector finished up 2.2%.
Gap (GPS 19.88, +0.87) played a supporting role in the consumer discretionary sector. It announced better-than-expected earnings per share results and offered in-line guidance .
Although the session's gains were pleasing, there is actually less to them than meets the eye when taking into account the light volume that has accompanied the move. Total volume didn't break 900,000 on the NYSE.
Each of the major indices closed the session with a gain in excess of 1%. For the week, though, the Dow closed 0.3% lower, the Nasdaq shed 1.5%, and the S&P 500 lost 0.5%.DJ30 +197.85 NASDAQ +34.33 NQ100 +1.3% R2K +1.7% SP400 +0.9% SP500 +14.48 NASDAQ Adv/Vol/Dec 1983/1.38 bln/797 NYSE Adv/Vol/Dec 2237/889 mln/874
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