Enzyme Environmental Solutions Receives Letter of Intent for Buyout
21 3월 2009 - 5:10AM
Marketwired
The promise of news from South Korea has attracted positive
attention to Enzyme Environmental Solutions (PINKSHEETS: EESO) as
of late for its products and formulas, including the food and
garbage applications inherent to the FG-500. One company has taken
particular interest in EESO and came to CEO Jared Hochstedler
recently with an offer to purchase the company in its entirety.
One week ago today, the prospective buyer deposited
approximately 1% of the total purchase price offered into ESCROW as
a sign of its good faith to follow through should Hochstedler
accept the offer. On the flip side, the buyer requested that EESO
release at least 300 Million of its remaining shares on a
restricted basis as part of the overall exchange should both
parties come to a mutual agreement; So far so good according to
Hochstedler, "The buyer -- who we can't name just yet due to
confines of our negotiations -- has taken particular interest in
our industrial applications and is positioned very well
internationally. I think it (the acquisition) could be a win-win
for our prospective buyer and EESO shareholders... Further, as far
as the shares are concerned, that puts us at about full capacity as
we have 2 billion shares authorized... that said, due to recent
occurrences with two different transfer agents, I feel it's in the
company's, and its shareholders, best interest, to restrict our TA
from releasing any share information at this time. Any due
diligence can be done by interested parties through the Nevada
Secretary of State website or office as this is a delicate
negotiation and one I plan to see through to everyone's benefit;
not one that during I can subject the company or its share price to
with unnecessary volatility."
The buyer, a U.S. domiciled entity with an interest in
progressive green technology, feels the timing is right for this
deal, as its principal officer states, "I feel that Enzyme
Environmental Solutions is on the cusp of an ever-progressing
movement in a world where everyone is going green and carbon
credits, not oil, are the new hot-topic commodity talk. It's a sign
of the times and these formulas and their applications are
effective and efficient. With their (EESO) agreements already in
place and the interest from South Korea and even U.S. domestic hog
farmers, etc., I think the time is right for a mutually attractive
transaction in which we can continue to take this company to the
next level."
Details to come on the progress of the negotiations. In the
meantime, Hochstedler and staff are organizing notes from the
recent South Korea trip for further company updates within the next
few days.
Safe Harbor: This release may contain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Statements contained in this release that are not
historical facts may be deemed to be forward-looking statements.
Investors are cautioned that forward-looking statements are
inherently uncertain. Actual performance and results may differ
materially from that projected or suggested herein due to certain
risks and uncertainties including, without limitation, ability to
obtain financing and regulatory and shareholder approvals for
anticipated actions.
Contact: Newbauer Media Relations Email:
mark@enzymeconsultants.com
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