Replies to post #22296 on Auscrete Corporation (ASCK)

[Elcappy1]

GOLDENDALE, Wash., Feb. 11, 2020 (GLOBE NEWSWIRE) -- Auscrete Corporation (OTC ASCK) is at the point of transitioning from a non-revenue producing company into a revenue producer with real and hard projections of earnings in future quarters, stated CEO John Sprovieri to Directors at the Company’s quarterly, year-end Board Meeting. With ASCK entering the revenue producing stage, it is doing so with possibly the least amount of convertible note debt, which the company had utilized in the past, to get to this enviable position.

With ASCK evincing the adage “That a lot of good can happen in a short period of time,” the company has emerged from being debt-ridden, using aged equipment, to a company kicking off 2020 with new equipment, cash on the books and its lowest debt in recent memory.

Actually, the improvement has happened more rapidly than management at one time had recently expected, plus the rapid turnaround was so quick it created a larger disparity in price between the company’s intrinsic value and current stock price.

That, plus the extinguishing of all debt with PowerUp Lending Group, who at one time stated that “they would provide the funding to launch ASCK in its entirety, and in a non-toxic manner” has helped. With both of PowerUp’s statements proving to be false, further down pressure had been applied on the price per share than management had anticipated.

After clearing the PowerUp debt off the books, leaving ASCK with minimal debt, an alliance was reformed with previous investors, whose reputation is nothing likened to that of PowerUp. In actuality, they have signed on as being the primary lender for ASCK going forward, for additional equipment and future expansion as the needs arise.

All the production equipment is new and on hand during the final stages of setting up and the commencement of the production cycle. The company now can begin confirming and filling hard orders for their products in February. These firm orders will lead to healthy revenue projections beginning in the 1st quarter. The initial orders are in the immediate area of the production facility, thus allowing ASCK to fill orders rapidly and efficiently right from the launch. These orders in the immediate vicinity have been derived from the excitement of the much-anticipated launch of the Auscrete Company in their area.

While this Press Release is focused on the current state of the company by the CEO, it is to be soon followed by additional PR, with more detailed updates featuring construction contracts and the production equipment along with announcements regarding further revenue producing activities in the foreseeable pipeline.