MOPN Experiences Growing Global Interest, Posts 3rd Quarter Financials and Discusses Measured Steps Toward Long-Term Success as
15 11월 2010 - 10:49PM
Marketwired
MOP Environmental Solutions, Inc. (PINKSHEETS: MOPN) is posting its
Third Quarter Financial Statements with the Pink Sheets today.
Highlights of the financials show significant financial
improvements in all areas, with cash on hand six times greater than
the end of 2009, total assets three times greater and total
liabilities less than one fourth the previous year-end, while also
achieving the Company's first positive balance in shareholder
equity.
Growing Global Interest:
MOPN Company President and CEO Charles Diamond stated: "We are
entering a new phase of activity, driven by the after-effects of
our participation in the BP Gulf of Mexico Oil Spill clean-up,
followed by our Case for 'MOP Maximum Oil Pickup™' as the Ultimate
First Response for Oil Spills in testimony before the United States
Senate. The pace has recently quickened with solicitations from
Saudi Arabia and testing to take place by the world's largest oil
company, Saudi Aramco."
Diamond elaborated, "Within the past week MOP received
additional inquiries from Brazil, Kuwait and the Netherlands (who
inquired regarding a real life test, referencing its ongoing oil
spill of 15,000 tons as a result of a collision between an oil
laden tanker and another vessel at high seas, some 40 miles west of
Rotterdam and additionally mentioned an area called Wadden Zee, as
a challenging area for pollution response)."
"MOPN's deliberate pace has passed through its development stage
and is moving ahead toward its objective of achieving world wide
recognition with a growing awareness of MOPN's advantages and its
best of class performance, due to the patented oil spill recovery
product MOP Maximum Oil Pickup as arguably The Ultimate First
Response To Oil Spills™," stated Diamond."
Diamond continued, "In most every instance the fulfillment of
any forthcoming orders from these large accounts would each be in
the millions of dollars of product, requiring assistance by third
party manufacturing partners, one of which has 15 manufacturing
plants worldwide who under confidential disclosure is aware of our
progress and is equally enthusiastic regarding the manufacture of
MOP on a contractual basis. This company would have the
manufacturing capacity to meet our fulfillment needs. Although
sufficient manufacturing capacity and capability has been
confirmed, in plant certifications and preparations remain before
full scale production. We are preparing to source materials from
nearby to the plant for their first full scale production run
anticipated possibly as early as December."
The Company's Third Quarter
Financials:
There are dramatic changes in the 3rd quarter financials showing
improvements across the board such as a substantially improved cash
position (from $19,187 to $126,463) and shareholders' equity
changing from a deficit of $62,343 to an equity position of
$154,240. Shareholders will also notice improvements in the style
and clarity of the financials through the efforts of Reuven I.
Rubinson, CPA, MBA, retained as our Certified Public Accountant to
compile these financial statements. Moreover, Mr. Rubinson's broad
experience brings valuable guidance to the Company's management
with a wealth of skills in many areas. Reuven's prior experience as
controller of a software technology company was instrumental in
raising over $15 million in funding for that company. The
financials as now presented will provide for deeper insight into
the Company's current statements and help shareholders to better
track the company's progress going forward. Mr. Rubinson will also
be compiling our financial statements for calendar years 2008 and
2009 in the same format and correcting some errors discovered in
his analysis of our books. This preparatory work should also allow
our statements to be ready for auditing.
Additional anticipated developments for the 4th Quarter of 2010
through the 1st Quarter 2011 and subsequent Quarters will embrace
the expenses associated with the necessity to obtain broader
capitalization to fully implement the Company's Strategic Plans.
These expenses will also include regulatory and legal approvals, as
well as audited financial statements. Ultimately, this will achieve
a Company equipped with the tools and disclosure requirements
within the financial market to match and support further expansion
of needed business functions. The business functions earmarked for
expansion include the following areas: Comprehensive on-site
presentations to foreign clients; ongoing patent work;
significantly increased purchases of raw materials for third party
manufacturing; global marketing; expansion of product lines;
domestic marketing in both the private sector and governmental
sector; domestic and global product distribution; and energy
production.
The complete financials can be viewed at:
www.otcmarkets.com/stock/MOPN/financials.
ABOUT MOP ENVIRONMENTAL SOLUTIONS, INC.:
MOP ENVIRONMENTAL SOLUTIONS, INC. participated in the cleanup
effort of the BP Horizon Gulf Oil Spill.
MOP Environmental Solutions, Inc. (PINKSHEETS: 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 oleophilic 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 oil spills the size of the BP
Horizon Gulf Oil Spill yet is equally effective at cleaning up oil
spills off a garage floor.
MOP Environmental Solutions, Inc. addresses All Oil Spill Needs
in Three Multi-Billion Dollar Markets.
- Direct to the Consumer -- Ideal for leaks and spills from Auto,
RV, Motorized Home Equipment and Used Cooking Oils.
- Commercial Industrial -- Every company with machinery has a
need for MOP.
- International Spill Response -- MOP as the First Response is
The Best Option for All Oil Spills on Land or Water.
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,
absorbent material, picks up to 30 times its own weight in oil,
without absorbing water, restores traction on slippery surfaces,
yet is as safe to the environment as a leaf falling from a tree.
MOP offers the fastest, safest, lowest cost way to restore a clean,
natural environment from any oil spill, indoors, outdoors, on land
or water in all weather conditions, and uniquely can pay for itself
from the offsetting revenues of its oil recovery option.
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. www.mopenvironmental.com
MOP Environmental Soluti... (CE) (USOTC:MOPN)
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MOP Environmental Soluti... (CE) (USOTC:MOPN)
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