Company News- August 08, 2007: BUGS CEO Updates Shareholders on Current Quarter Events, BUGS CEO to Rebuild Company based upon Acquisitions and Core Competencies
U.S. Microbics, a global environmental enhancement company, announced that its management continues to work on key strategic projects for business expansion over the next year. These projects include acquisition of an environmental transportation company, financing for a subsidiary doing business in Mexico, and teaming with domestic partners for agricultural products marketing and distribution.
Robert Brehm, CEO of U.S. Microbics, "We have previously identified an environmental transportation company as a potential acquisition and we are in the final due diligence and strategic planning stage for this company which could provide additional revenues of $10MM plus per year. We are structuring the acquisition as a leveraged buyout and expect to make an offer for the company this month with a targeted completion by September 30. They are located in San Diego County and their local presence would give us significant advantage in regional environmental cleanup projects requiring transportation services. We are excited about the future prospects of the company and the expertise and complementary technology and management we bring to expand its growth."
Brehm continued, "In order for us to prepare for the expected increase in future project revenues from the Mexico environmental cleanup company, Environmentaltec International, S.A de C.V. (ETI), operated by our subsidiary, Sub-Surface Waste Management (OTCBB:SSWM), we are working with new investment brokers for interim project financing for several current projects as well as long term financing for pending projects. We have also discussed grant financing with a global foundation for ETI humanitarian and environmental projects and I am happy to say our projects meet their selection criteria and we are now working on completing the financial application process so we can start these new projects in FY 2008."
Brehm also stated, "We have been approached by another public company to set up a joint venture or teaming arrangement for the packaging, marketing, and distribution of our agricultural growth enhancement product, Bio-Miracle, which has been effective on many plants such as vegetables, house plants, golf courses grass, and also fuel crops such as sugar-cane and corn. We are excited to begin this process as a method to diversify our product offering to multiple markets rather than solely relying on the environmental cleanup market. Our target would be retail customers desiring a safe, natural growth enhancement product for their plants and gardens. We plan to ask interested shareholders to help us field test some of these products prior to commercialization."
Brehm went on to say, "Our acquisition and product diversification strategy is the key to our future success as we strive to add revenue growth to our company. We have spent many years trying to organically grow the business based upon the environmental cleanup paradigm, "treat the source not the symptom", and have made some good inroads in Mexico where this paradigm saves lives and creates new jobs. However the environmental industry is changing with the green awakening of global warming, sustainable energy and agriculture, and the need for allied support services and so BUGS must also change for its future success."
Brehm summarized, "Our core competency is our environmental industry knowledge, our unique agricultural products and patented cleanup processes and financial services for seasoned environmental companies seeking to be acquired or go public. I plan to rebuild this company into an environmental enhancement enterprise that will make our shareholders proud to be part of a company that is not only financially rewarding but will make a significant contribution to a cleaner, healthier world for generations to come. The current acquisition and financing activities coupled with shareholder support will help me accomplish this task in 2008 and beyond."
