EESO Enzyme Environmental Solutions Inc (CE)

Enzyme Environmental Solutions, Inc. (PINKSHEETS: EESO) turned down a buyout offer this morning after considering the company's valuation factors including current customer volume and pending negotiations as well as how it would potentially affect the shareholders who have been an integral part of the company's continued growth and success. The offer, as refused, consisted of a total purchase price consisting of .10 a share for common shareholders.

Enzyme Environmental CEO and President, Jared Hochstedler, comments, "I feel the price offered, as written, undervalues the company and I'll tell you why: We have achieved significant success in South Korea with our bacterial, garbage and odor remediation applications with our proprietary biotech. Within a week of our return we received a $12M order with other requests in negotiation. We have a lucrative, long-term agreement with our exclusive retail partner which currently supplies both licensing and manufacturing revenues that grow exponentially with our client's distributor base. We are experiencing a new level of growth in terms of prospective client inquiries domestically, by companies large and small, for garbage and hog odor remediation as well as our water treatment solutions. Last but not least, I feel our share price, at current market value, is not reflective of the company's actual value and, as we continue to progress, I believe it will correct itself accordingly along the way. EESO has much on the table which hasn't even been released to the public including continued R&D on the company's GC-2000, which converts auto-residue into fuel-oil. We're learning quickly that the applications here are nearly limitless. Enzymes are powerful -- plain and simple -- and my proprietary blends and fermentation processes position us as one of the best green enzyme based cleaning product providers on the planet."

Hochstedler sent written notification today to confirm the decision that was conveyed to the buyer and select executives via recorded teleconference earlier this week. Mark Murphy, VP of Operations, says, "It was a respectful conversation on both sides. I believe that in terms of company growth, this buyer could take the company to new levels with its market reach worldwide. Further research, development and implementation of formula applications could lead to significant increase in company revenue and the prospective buyer has the resources that could facilitate this efficiently. That said, it wouldn't be fair to shareholders who are crucial to our success, to take a buyout offer at .10 a share for common shares. Attractive as it may be at face value, it isn't what we're willing to accept based on what we feel to be the true valuation of the company."

The prospective buyer, who wishes to remain confidential at this time, has stated that it will take this information into consideration with a reevaluation of the deal in terms of mutual benefit. The buyer has stated that it will, within 30 days, respond with a counter-offer to Enzyme Environmental Solutions for its purchase with a price that should prove to be satisfactory for all involved. Hochstedler feels the prospective buyer understands his reasons for refusal of the offer as written and is looking forward to a counter-offer that will more closely reflect the company's value and its potential as a whole.

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