CEO was right about Oct 1st..NEWS out
SSWM Issues Acquisition Term Sheet for Environmental Transportation Company
9 minutes ago - BusinessWire
Robert Brehm, CEO of Sub Surface Waste Management of Delaware, Inc. (OTCBB:SSWM), announced today that the company has issued a term sheet for the merger/acquisition of an environmental transportation services company operating in the Southwestern United States.
The term sheet was issued for a total of $2.5MM in cash, stock and long term notes including a multi-year employment agreement for the current President. The purchase price is subject to final audited financial statements of the target company. Under the terms, SSWM would acquire the outstanding stock of the company in a merger/acquisition where the company would operate as a subsidiary of SSWM. The acquisition is a San Diego county based transportation company involved with building materials transportation and contaminated soil disposal. Annual sales in 2006 were approximately $10MM. The parties are working jointly to complete the formal acquisition within thirty days.
Brehm stated, "We are delighted to work with the President and his professional staff and we are excited about having them join the SSWM family. Both companies have worked hard to understand each other and the synergy for future business potential and expansion into other markets. I believe the addition of this company will add financial stability as well as serve as a platform for new business in the United States and Mexico as we develop new business opportunities in 2008 and beyond. I look forward to beginning the new fiscal year with a new direction and commitment to increasing shareholder value with a proven business model."
About Sub-Surface Waste Management
Sub-Surface Waste Management of Delaware, Inc., a majority owned subsidiary of U.S. Microbics, Inc., (OTCBB:BUGS), provides comprehensive civil and environmental engineering project management services including specialists to design, permit, build and operate environmental waste clean-up treatment systems using conventional, biological and filtration technologies.
Investors and media contact Robert Brehm at 760/918-1860, ext. 102 or learn about the company by visiting its Web site at www.subsurfacewastemanagement.com. To be on the email list for press releases please visit: http://www.bugsatwork.com/emailfax.htm
The information contained in this press release includes forward-looking statements. Forward-looking statements usually contain the words "estimate," "anticipate," "believe," "expect" or similar expressions that involve risks and uncertainties. These risks and uncertainties include the company's status as a startup company with uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its products, competition, limited service and manufacturing facilities, dependence on technological developments and protection of its intellectual property. The company's actual results could differ materially from those discussed herein. Factors that could cause or contribute to such differences are discussed more fully in the "Risk Factors," "Management's Discussion and Analysis or Plan of Operation" and other sections of the company's Form 10-KSB and other publicly available information regarding the company on file with the Securities and Exchange Commission. The company will provide you with copies of this information upon request.
SOURCE: Sub Surface Waste Management
Sub Surface Waste Management Robert Brehm, 760/918-1860, ext. 102 www.subsurfacewastemanagement.com
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