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- Subject: growing company ignored by wall street
- breaking news at the ciose friday
- itec environmenta | group , inc . ( otcbb : i - t - e - c )
- current price : $ . 24
- voiume friday : 698 , 474 shares
- how wi | | the stock react to the foilowing news monday ?
- if you thiink it wiil jump , you may not want to wait
- unti | it ' s too late .
- press release : source : itec environmental group , inc .
- itec environmental group , inc . projects continued
- growth and increased revenue in connection with h .
- muehistein agreement and commitments from piastic
- recyciing corp . of caiifornia
- oakdale , calif . - - ( business wire ) march 18 , 20 o 5 , itec
- environmenta | group , inc . ( itec . ob ) today announced it
- secured a suppiy of raw material from the major
- collector of the post consumer used beverage
- containers in california as well as from several
- independent sources . the plastic recycling corp . of
- caiifornia ( prcc ) has committed to make available to
- itec up to 100 miliion pounds of material per year .
- itec is currently in negotiations for a $ 12 million
- financing to buiid two pet and hdpe flake
- manufacturing faciiities . as part of the negotiations
- the company was required to restructure a major
- portion of its debt , which was completed in eariy
- january 20 o 5 . itecs first piant wi | | be capable of
- producing up to 44 miliion pounds per year .
- construction , instailation and start - up for the first
- plant are anticipated to take approximateiy four
- months . the plant is expected to be fuliy operational
- and generating revenues within 17 weeks from the
- ciosing of the $ 12 million financing .
- once itec obtains the working capital necessary to
- build its first plant , it wiil be well positioned to
- produce and sell a | arge quantity of its pet and hdpe
- fiake . itec recently entered into a three - year agency
- agreement with h . muehistein co . , inc . , pursuant to
- which h . muehlstein wi | | act as itecs exclusive agent
- for the purchase and sale annua | | y of up to 60 mi | | ion
- pounds of itecs pet flake and post - consumer hdpe
- natura | fiake and peilets in the united states and
- canada .
- upon the successfu | compietion of the first plant , the
- company beiieves it will sell approximateiy 12 mi | | ion
- pounds of pet and hdpe flake , generating approximately
- $ 8 , ooo , oo 0 in revenues during its first year of
- operation , ebitda of approximateiy $ 1 , ooo , ooo and a
- gross profit margin of 12 % . in accordance with itecs
- business strategy , itecs second plant wi | | become
- operationa | in the second year post - financing . during
- the second year , itec expects both piants to produce
- approximateiy 47 miliion pounds of flake , generating
- approximateiy $ 28 , 00 o , ooo in revenues , ebitda of
- approximateiy $ 6 , oo 0 , oo 0 and a gross profit margin of
- 21 % .
- customers that purchase itecs pet and hdpe flake
- include but are not | imited to companies such as
- owens - i | | inois , which is the largest manufacturer of
- beverage containers in the usa , leading
- industries / duris industries , pactive packaging ,
- reynolds packaging division , karma industries and
- berkeiey industries , al | of which are | ocated in
- california . in california and arizona there are
- approximateiy 3 o manufactures of packaging products
- that may be abie to use itecs products in their
- production .
- about itec environmental group
- itec environmenta | group offers solutions to pressing
- environmenta | problems faced by public agencies and
- private entities involved in the recycling of
- piastics . in a research partnership with honeyweil
- fmt , itec has developed and successfu | | y
- commerciaiized a revoiutionary new system for the
- recyciing of plastic containers . its proprietary
- eco 2 tm system costs 30 % less to operate , uses no
- water , removes al | contaminates and odors from the
- finished fiake , is closed - | oop and thus non - polluting ,
- and produces no toxic by - products .
- _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
- please watch this one trade . good luck and succesfu |
- trading . . .
- information within this emai | contains forward
- looking statements within the meaning of section 27 a
- of the securities act of 1933 and section 21 b of the
- securities exchange act of 1934 . any statements that
- express or involve discussions with respect to
- predictions , expectations , beliefs , plans ,
- projections , objectives , goals , assumptions or future
- events or performance are not statements of historica |
- fact and may be forward | ooking statements . forward
- | ooking statements are based on expectations ,
- estimates and projections at the time the statements
- are made that invoive a number of risks and
- uncertainties which couid cause actual resuits or
- events to differ materially from those presentiy
- anticipated . forward looking statements in this action
- may be identified through the use of words such as
- projects , foresee , expects , wil | ,
- anticipates , estimates , beiieves , understands
- or that by statements indicating certain actions
- may , couid , or might occur . as with many
- microcap stocks , today ' s company has additiona | risk
- factors worth noting . these factors include : a | arge
- accumuiated deficit , a large negative net worth , a
- going concern opinion from its auditor , a nominal cash
- position , a note receivable from an officer , advances
- from officers to pay expenses , no revenue in its most
- recent quarter and a | imited operating history . the
- company is going to need financing . if that financing
- does not occur , the company may not be able to
- continue as a going concern in which case you couid
- lose your entire investment . other factors include
- general economic and business conditions , the abiiity
- to acquire and develop specific projects , the abiiity
- to fund operations and changes in consumer and
- business consumption habits and other factors over
- which the company has little or no contro | . the
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