MOP Environmental Solutions Releases June 30th, 2010 Financial Statements and Secures $750,000 per Month in Credit
28 7월 2010 - 11:41PM
Marketwired
MOP Environmental Solutions, Inc. (PINKSHEETS: MOPN). In an effort
to provide financial disclosure to the investing public, the
Company has posted its June 30th, 2010 financial statements. The
statements can be viewed at www.otcmarkets.com. Pink Sheets has
already upgraded the Company from a "Stop" to a "Limited
Information" status. The Company is now moving forward to bring the
Company to "Current Information" status and hopes to do so in the
coming months.
Highlights of the financial statements show that the Company had
over $90,000 in cash on hand and total assets of nearly $250,000
for the period ending June 30th, 2010. In addition the Company
reported that subsequent to June 30th, 2010 the Company has
approximately $200,000 in available cash and accounts receivables
of over $165,000.
The Company also disclosed they had entered into an agreement
with Bibby Financial for receivables financing at a rate of 1.25%.
The contractual minimum commitment is $300,000 in monthly
receivables with a current maximum of $750,000 a month. Allowing
the Company to offer highly competitive terms such as net 60 days
to strengthen proposals to large accounts.
Charles Diamond, President and CEO, stated, "We very highly
value our shareholders and understand that full financial
transparency is needed to achieve and maintain their trust and
respect. Publishing current financials is an important step toward
building the loyalty and confidence that is needed to help support
and secure our shareholder's investment." Mr. Diamond continued by
saying, "We are very pleased with the agreement we have entered
into with Bibby Financial. This agreement will provide us with the
capital we need to meet the growing demand for MOP Environmental's
Maximum Oil Pickup products. Our research and subsequent
discussions with Bibby Financial indicate they are the ideal
partner to accommodate our anticipated rapid expansion and growth
into both domestic and international markets."
ABOUT MOP ENVIRONMENTAL SOLUTIONS, INC.
MOP Environmental Solutions, Inc. (MOPN) is a publicly traded
company. MOP Maximum Oil Pickup is a "cradle-to-cradle" green
product that is arguably the most effective oil spill recovery
system on the market. For information see
www.mopenvironmental.com.
Brief Description of The MOP Technology:
MOP Maximum Oil Pickup is an aggressive oleophyllic and
hydrophobic (oil attracting and water repelling) sorbent made from
recycled and fully biodegradable materials, manufactured using
small-scale hydroelectric green energy. MOP's properties are such
that it can effectively deal with an oil spill the size of the
Exxon Valdez, but is equally effective at cleaning up the oil spill
off a garage floor.
Regarding the Gulf Oil Spill: MOP Environmental's patented
product MOP Maximum Oil Pickup has the ability to capture and
contain oil spills such as the Gulf Oil Spill at its source and at
all locations out to its furthest perimeter including the
marshlands and beaches. Where the oil has landed on beaches or land
it will separate and remove the oil from the soil, or sand on site
quickly. MOP Environmental's oil-only pickup product is called MOP
Maximum Oil Pickup. MOP floats, is all natural, and it is safe to
the environment including birds, animals, and aquatic life. It is
rapidly deployed at over 150 mph using MOP Environmental's
MOP-Cannon and removed using their MOP-Vac. MOP is applied above
water or below water where it floats up and locks in oil,
completely neutralizing all potential harmful effects of the
spilled oil. It is the only known oil recovery method that will
work under all weather conditions. The oil can be retrieved for
re-use where the resulting profit is greater than the expense of
cleanup.
MOP Environmental Solutions, Inc. manufactures and distributes
MOP® Maximum Oil Pickup. MOP picks up and recovers oil
spilled on land and/or water. This revolutionary, 100% Recyclable,
new absorbent material picks up to 30 times its own weight in oil,
without absorbing water, restores traction on slippery surfaces,
and safely restores a clean, natural environment.
Forward-looking statements in this news release are pursuant to
safe harbor provisions of Section 21E of Securities Exchange Act of
1934. Investors are cautioned that statements in this release are
not strictly historical statements, including without limitation,
management's plans and objectives for future operations, assessment
of market factors, statements regarding strategy, company plans and
its strategic partners. These constitute forward-looking
statements, are not guarantees of the company's future performance
and are subject to risks and uncertainties, such as funding for
machinery and materials, success in acquiring customers,
maintaining needed government relationships, and successfully
executing a business plan, which could cause the company's actual
future results to differ materially from the forward-looking
statements. For all such forward-looking statements, we claim the
safe harbor for forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. MOP
Environmental Solutions, Inc. disclaims any obligation to update
any forward-looking statement made herein.
CONTACT: Wayne D. King (603)-786-9378 MOPEnvironmental@gmail.com
MOP Environmental Solutions, Inc.
MOP Environmental Soluti... (CE) (USOTC:MOPN)
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