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Systems Management Solutions, Inc. Announces Acquisition of Bio-Diesel Plant and Change of Trading Symbol Friday April 8, 3:56 pm ET
SAN ANTONIO--(BUSINESS WIRE)--April 8, 2005--In a filing with the Securities and Exchange Commission, Systems Management Solutions, Inc. ("Company"), (OTCBB:SSMG - News), announced that on April 6, 2005, it acquired all of the outstanding stock of SMS Envirofuels, Inc. ("SMS"), a Texas corporation, in exchange for 1,444,444 shares of its $0.0001 par value common stock. SMS has developed a plant to produce bio-diesel (a biodegradable alternative fuel) from soybean oil. The SMS plant has the capacity to produce up to 3,000,000 gallons of bio-diesel per year. This alternative fuel will generally be blended with petro-diesel in the ratio of 5% bio-diesel or 20% bio-diesel to produce B5 or B20 for use in diesel fueled vehicles and machines. SMS has established buyers for its production and has been making deliveries for about three months. The Company will operate the bio-diesel plant through SMS Envirofuels, Inc. its wholly owned subsidiary as a part of its Environmental Solutions Division. This division will be a compliment to its Business Solutions Division, which includes its wholly owned subsidiary, Aspect Business Systems, Inc. Management reported that the Business Solutions Division of the Company has secured contracts for services totaling $50,000 during the first quarter of this year and has additional commitments for programming and software procurement in excess of $85,000. Management believes that the addition of the bio-diesel operation to the Environmental Solutions Division will be a positive addition to the Company's revenues. Jim Karlak, President of the Company, said, "Operating at the existing capacity of 3,000,000 gallons of bio-diesel per year, the plant could generate $6,300,000 in annual revenue, at current prices for bio-diesel. We plan to increase the plant capacity to in excess of 5,000,000 gallons per year during the second quarter of the year and at that level of production, current prices for bio-diesel would generate $10,500,000 per year".
The Company also announced that in connection with its recent reverse stock split, it had been assigned a new trading symbol by NASDAQ. Instead of the symbol SMSN, the common stock of the Company will now trade on the OTC Bulletin Board under the symbol SSMG.
This press release may contain forward-looking statements which reflect the Company's current views with respect to future events and financial performance. The words "believe", "expect", "anticipate", "intends", "forecast", "project", and similar expressions identify forward-looking statements. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including any statements of the plans, strategies and objectives of management for future operations; any statements concerning proposed new products, services, developments or industry rankings; any statements regarding future economic conditions or performance; any statements of belief; and any statements of assumptions underlying the foregoing. Any such forward-looking statements contained in this press release are made under the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Any such statements are subject to risks and uncertainties that could cause actual results of events to differ materially from those anticipated in such forward-looking statements. The Company undertakes no obligation to publicly update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.
-------------------------------------------------------------------------------- Contact: Systems Management Solutions, Inc., San Antonio Jim Karlak, 210-256-8300
-------------------------------------------------------------------------------- Source: Systems Management Solutions, Inc.
Last trade friday .51(only trade) up 153% from .20........ Worth a look... Yes I know they had a r/s I CAN READ!!!!!! lol
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