I really hate this stock. lol Horrible 10-Q.
Enough cash to operate into September, 2006. Ouch. I dumped on the open today. Took a little loss, made it back in another stock today.
Possible dilution by NITE, he's been walking it down from .016, so be careful. .013 needs to hold if tested for anyone in, IMO. If it fails to hold upon a test there, I dare not say where I think it may go.
A large contract is needed to save this I believe, or else dilution could run rampant some more.
-------------------- Buy Low. Sell High. Posts: 10736 | From: The Land Of The Giants | Registered: Feb 2005
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Mexico Federal Electricity Commission Funds Project for SSWM Subsidiary in Mexico; SSWM Subsidiary to Start Work on First Contract at Electricity Generating Plan Sep 20, 2006 9:45:00 AM Copyright Business Wire 2006 CARLSBAD, Calif.--(BUSINESS WIRE)--Sept. 20, 2006--
Sub-Surface Waste Management of Delaware, Inc. (OTCBB:SSWM), announced that its Mexico subsidiary company, Environmental Tec International, S.A. de C.V. (ETI), signed its $1.1 million subcontract agreement with the National Autonomous University of Mexico (UNAM) under a recently awarded new contract from the Federal Electricity Commission (C.F.E.). ETI will mobilize to one of the largest power generating plants in the south of Mexico, in Merida, Yucatan, at Nachi Cocom.
Bruce Beattie, CEO of SSWM, stated, "We are pleased to be able to start this important project after several delays were incurred in authorizing release of funds due to resolution of specific tasks in our scope of work. This facility was sited three years ago, by the office of Attorney General for the Protection of the Environment, for major violations of hydrocarbon contaminants and our successful completion of this project should substantially enhance ETI environmental presence in the Mexican Republic and lead to additional environmental clean-ups at other generating plants. We expect a second project for remediation at the Merida II plant to be awarded later this year which is anticipated to be twice the magnitude of work as compared to the facility at Nachi Cocom."
About Sub-Surface Waste Management
Sub-Surface Waste Management Inc. is a majority owned subsidiary of U.S. Microbics, Inc. (OTCBB:BUGS), and 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. SSWM is capitalizing on its patented technologies registered in Mexico with SEMARNAT a Federal regulatory agency overseeing environmental compliance nationwide.
Investors and media contact Bruce Beattie at 760-918-1860, ext. 105 or bbeattie*bugsatwork.com; or learn about the company by visiting its Web site at www.subsurfacewastemanagement.com.
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: U.S. Microbics, Inc.
---------------------------------------------- Sub-Surface Waste Management Inc. Bruce Beattie 760-918-1860 ext. 105 bbeattie*bugsatwork.com
Posts: 4303 | From: DSA | Registered: Dec 2003
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SSWM Contract Backlog Highest in Company History Thursday September 21, 9:45 am ET Company to Enter New Fiscal Year with over $3.1MM in Contracts
CARLSBAD, Calif.--(BUSINESS WIRE)--Sept. 21, 2006--Robert Brehm, CEO of U.S. Microbics, Inc. (OTCBB:BUGS - News; BCN:615212), an innovative environmental products and services company, announced that its majority owned subsidiary, Sub-Surface Waste Management of Delaware, Inc., (OTCBB:SSWM - News), and its Mexico subsidiary company, Environmental Tec International, S.A. de C.V. (ETI), have a $3.1MM contract backlog in Mexico, the highest in the company's history. SSWM expects to commence these projects on or before October 1, 2006, the beginning of the new fiscal year, and recognize the much of the revenue in the first two quarters of the new year.
Brehm elaborated, "We have made significant progress in Mexico this year with $3.1MM in recent new contracts from the electric utility (CFE) and the State of Puebla as well as having completed, or nearly completed $550,000 in projects for the current fiscal year. As our revenue run-rate increases in the new year and we gather momentum and additional staff I expect our backlog of proposals and signed authorizations/contracts to also increase proportionately in 2007."
Brehm further commented, "We are also continuing our business development efforts with the Governor and his staff in Veracruz for the emergency response centers, and with the Governor of Tlaxcala for his landfill project. The proposals for these projects total over $200MM in potential new business for SSWM/ETI over the next five years. Due to the magnitude of the projects and political nature of the economic benefits for the people of Veracruz, Tlaxcala and Mexico City, we are working closely with many governmental agencies, politicians, contractors and subcontractors and others, who each have their own timetable and priorities, to ensure acceptance and the success of the projects for both SSWM and the people of Mexico. While our progress may seem slow by American standards, our efforts are significant and highly regarded by the government officials who are trying hard to implement new environmental policy and projects where none existed before."
Bruce Beattie and Bob Brehm of Sub-Surface Waste Management Discuss Recent News and Provide Significant Progress Report in an Audio Interview at SmallCapVoice.com Thursday September 28, 9:45 am ET