In order to successfully bid on and secure contracts to perform environmental remediation services of the nature offered by us to our customers, we sometimes must provide surety bonds with respect to each prospective and, upon successful bid, actual projects.
The number and size of contracts that we can perform from time to time is to a certain extent dependent upon our ability to obtain bonding. This ability to obtain bonding is dependent, in material part, upon our net worth and working capital. Our ability to obtain bonding has been limited in recent years. There can be no assurance that we will have adequate bonding capacity to bid on all of the projects which we would otherwise bid upon were we to have such bonding capacity or that we will in fact be successful in obtaining additional contracts on which we may bid, which could have a material adverse effect on our results of operations. None of our current projects require surety bonding.
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