WRII PR SUMMARY
Waste Recovery, Inc. (PINKSHEETS: WRII) Letter to Shareholders:
Dear Shareholders,
Today our phone lines were overwhelmed with concerns about the share structure of the company and the terms of the merger deal. For this confusion I do apologize and hope that with the merger of DR Entertainment Group, a real company with real assets and revenues stands as the testament of my concern for shareholder value.
First and foremost, let me reiterate that we are a "publicly traded company" and neither we nor our transfer agent may release insider information to one shareholder individually without a press release which releases the same information to ALL SHAREHOLDERS at the same time. Those shareholders who obtain information not yet released to the public could be seen as being in a position of holding "Insider Information" and thus MUST then be restricted from trading for 90 days. It is never our intent to withhold information; we just want to release it all at the same time to be fair and protective of all shareholders.
Now let me please address the concerns directly:
WRII Share Structure and Merger Terms relating to these Shares...
-- 2.2 Billion Shares Issued and Outstanding
-- 2 Billion of these shares are 144 Restricted Control Block (2 year
restricted) held by an attorney in escrow and cannot be levied or used in
any sort of collateralization of loans for the purpose of financing etc. as
per the terms of the merger agreement.
-- 218 Million shares free trading
-- Approximately 1/3 of these free trading shares are deposited in street
name as public float.
As my last correspondence as CEO and Director of WRII, I would like to say thank you to all shareholders for the opportunity to serve you all. It is my parting hope, for all of us, to move forward with DR Entertainment Group into a mutually prosperous future.
Sincerely,
/s/ Jesse Rodriguez,
Interim CEO & Director
About Waste Recovery, Inc.
Waste Recovery, Inc. is a development stage corporation mandated by its shareholders to seek out business opportunities to acquire or merge with to create value for its shareholders.
For more information available to the public, contact the investor relations dept. at 949-861-9620.
About DR Entertainment Group
DR Entertainment Group is the parent company of the world famous MINXX Gentlemen's Club in Las Vegas, NV. This is a 10,500 square foot adult entertainment club including building and real estate assets estimated at approximately $12,000,000.00 USD.
Forward-Looking Statements
This news release contains forward-looking statements made by WASTE RECOVERY, INC. in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All such statements included in this press release, other than statements of historical fact, are forward-looking statements. Although Management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Actual results may differ materially from those indicated by these statements. The following risk factors, among others, could cause actual results to differ materially from those described in any forward-looking statements. These risks and uncertainties include, but are not limited to, economic conditions, changes in the law or regulations, demand for products and services of the company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Forward-looking statements are typically identified by the words: believe, expect, anticipate, intend, estimate, and similar expressions or which by their nature refer to future events.
Company Contact:
Jesse Rodriguez
949-861-9620
SOURCE: Waste Recovery, Inc.
Waste Recovery, Inc. Announces Minxx Gentlemen's Club, Voted #1 Adult Club in Vegas 2007 and Is Set to Expand in Nevada and Southern California
Market Wire - September 17, 2007 12:13 PM ET
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WRII Trade 0.0165 +0.0005
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WASTE RECOVERY, INC. (PINKSHEETS: WRII) Robert Susnar III, CEO, and Dwight Chornomud, COO of DR Entertainment, which currently owns and operates Minxx Gentlemen's Club, are pleased to announce our Number One Adult Club Las Vegas award, and our plans for the future:
"The company has been voted the number one adult club in Las Vegas for 2007, and it is DR Entertainment's commitment to recreate the same playful, friendly, exciting and opulent atmosphere that is appealing to men and women alike. DR Entertainment has identified five prime locations, three in Las Vegas, Nevada and two in Southern California for future Minxx Gentlemen's Clubs."
The Minxx Gentlemen's Club located just off the Las Vegas Strip represents the first step to executing on this business model. Minxx has raised the bar for cabaret entertainment with its high concept design and 13,000 square feet of entertainment space. The company constructed this facility from the ground up and owns the real estate associated with the project. This $12,000,000.00 asset serves as the flagship and conceptual model for the planned locations to come.
CEO Robert R. Susnar III commented, "After an intense period of planning we are about to implement a very aggressive growth strategy that includes the acquisitions and brand new openings of five Gentlemen's clubs. We looked at some of the other public companies in the same sector and we are more than confident that we will be able to enjoy similar if not a better performance."
The company looks forward to keep our shareholders informed on a timely basis.
Please visit our Minxx website: minxx.net
About Waste Recovery, Inc.
Waste Recovery, Inc. is a development stage corporation mandated by its shareholders to seek out business opportunities to acquire or merge with to create value for its shareholders.
For more information available to the public, contact the investor relations dept. at 949-861-9620.
About DR Entertainment Group
DR Entertainment Group is the parent company of the world famous MINXX Gentlemen's Club in Las Vegas, NV. This is a 10,500 square foot adult entertainment club including building and real estate assets.
Forward-Looking Statements
This news release contains forward-looking statements made by WASTE RECOVERY, INC. in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All such statements included in this press release, other than statements of historical fact, are forward-looking statements. Although Management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Actual results may differ materially from those indicated by these statements. The following risk factors, among others, could cause actual results to differ materially from those described in any forward-looking statements. These risks and uncertainties include, but are not limited to, economic conditions, changes in the law or regulations, demand for products and services of the company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Forward-looking statements are typically identified by the words: believe, expect, anticipate, intend, estimate, and similar expressions or which by their nature refer to future events.
Company Contact:
Jesse Rodrigez
949-861-9620
SOURCE: Waste Recovery, Inc.
Waste Recovery, Inc. Announces Its Merger With DR Entertainment Group (MINXX Gentlemen's Club) of Las Vegas, Nevada
Market Wire - September 14, 2007 9:28 AM ET
Related Quotes
Symbol Last Chg
WRII Trade 0.0165 +0.0005
Quotes delayed at least 15 minutes
Waste Recovery, Inc. (PINKSHEETS: WRII) today announces its merger partner to be DR Entertainment Group of Las Vegas, Nevada. DR Entertainment Group is the parent company of the world famous MINXX Gentlemen's Club also located in Las Vegas.
DR Entertainment Group is the sole owner of the real estate asset including the building which is approximately 10,500 square feet. The real property is estimated to be valued at approximately $10 million. MINXX Gentlemen's Club is a world class adult entertainment facility and is frequented by many celebrities and influential patrons. The club is located at 4636 Wynn Road in Las Vegas near the Rio Hotel and Casino, and the Palms Hotel and Casino.
DR Entertainment Group has a strong market growth plan. The plans include growing local and tourist traffic to its existing MINXX location, and an aggressive acquisition strategy where DR/MINXX will merge with other Gentlemen's Clubs. These newly acquired clubs will be rolled in under the MINXX label and upgrade to the MINXX standard of high end entertainment facility.
MINXX website link: http://www.minxx.net/
Mr. Jesse Rodriguez, elected interim Chairman and CEO, says, "I feel great about announcing DR Entertainment Group and MINXX Gentlemen's Club and future clubs as the right merger candidate to bring strong value to our shareholders."
About Waste Recovery, Inc.
Waste Recovery, Inc. is a development stage corporation mandated by its shareholders to seek out business opportunities to acquire or merge with to create value for its shareholders.
For more information available to the public, contact the investor relations dept. at 949-861-9620.
About DR Entertainment Group
DR Entertainment Group is the parent company of the world famous MINXX Gentlemen's Club in Las Vegas, NV. This is a 10,500 square foot adult entertainment club including building and real estate assets.
Forward-Looking Statements
This news release contains forward-looking statements made by WASTE RECOVERY, INC. in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All such statements included in this press release, other than statements of historical fact, are forward-looking statements. Although Management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Actual results may differ materially from those indicated by these statements. The following risk factors, among others, could cause actual results to differ materially from those described in any forward-looking statements. These risks and uncertainties include, but are not limited to, economic conditions, changes in the law or regulations, demand for products and services of the company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Forward-looking statements are typically identified by the words: believe, expect, anticipate, intend, estimate, and similar expressions or which by their nature refer to future events.
Company Contact:
Jesse Rodriguez
949-861-9620
SOURCE: Waste Recovery, Inc.
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