Message #78 From:
Stock News Bot Date: March 19, 2007 07:00:00 AM
BUGS News U.S. Microbics Initiates Search for U.S. Environmental Acquisitions
CARLSBAD, Calif.--(BUSINESS WIRE)--U.S. Microbics (OTCBB:BUGS) announced that it hired two consulting firms to help in the acquisition of U.S.-based environmental companies to provide domestic revenues that balance the increased revenues being generated in Mexico through its subsidiary, Sub-Surface Waste Management of Delaware, Inc., (OTCBB:SSWM). BUGS is seeking acquisition candidates which can use its proprietary technology or can provide complimentary technology or distribution channels into new markets in the U.S. and Mexico.
BUGS has proprietary technology for the cleanup of soil and groundwater contamination from hydrocarbons, human and animal waste, and agricultural growth enhancement products for food and fuel crops such as corn and sugarcane used in the production of ethanol. The company also specializes in turning industrial waste streams into resource steams which generate energy or recycle products for multiple uses. The BUGS’ solution delivery philosophy is to use U.S. based project managers in collaboration with in-country local labor and technical resources to treat the source of contamination problems quickly and cost effectively while creating new job opportunities and improving the environment for local residents.
Robert Brehm, CEO of U.S. Microbics, commented, “With the ramp-up of our environmental business with various state and federal governmental entities in Mexico and our pending new financing for additional projects in Mexico, Central and South America, it is time to revisit our strategic plan for growth by acquisition in the U.S. BUGS has hired two consulting firms to identify acquisition candidates, perform due diligence and provide acquisition financing and integration into the BUGS family of environmental companies. The candidate companies targeted will have complimentary technology for existing or pending BUGS projects or provide new markets for existing BUGS technology and will have substantial upside potential with added financing and management direction.”
Brehm continued, “The consultants have already presented several candidates which are currently in the due diligence process. We are reviewing an environmental transportation company with approximately $10MM in revenues, a material recycling company with $5MM in revenues and a bio-diesel startup company seeking a West Coast presence. Our goal is to acquire $5MM to $20MM in U.S. based revenue to balance the expected near term revenue foreseen in Latin America over the next 12-24 months. We would like to be able to complete at least one acquisition before the end of our fiscal year in September and our acquisition team is working hard to accomplish this task.”
About U.S. Microbics Inc.
U.S. Microbics is a business development and holding company that acquires, develops and deploys innovative technologies for environmental cleanup, agriculture yield enhancement, and waste stream treatment in developing nations using local resources to stimulate regional economies.
For more information on the company, contact Robert Brehm at 760-918-1860 x102 or visit the website at www.bugsatwork.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.
