Message #25 From:
NewsBot Date: January 18, 2007 06:30:00 AM
SOYL News American Soil Technologies Completes the Acquisition of Smart World Organics, Inc.
PACOIMA, Calif.--(BUSINESS WIRE)--American Soil Technologies, Inc. (OTCBB: SOYL), announced today that it
has closed the acquisition of Smart World Organics of Hudson, Florida,
in exchange for 2,300,000 shares of restricted common stock and
simultaneously purchased the formulas and trade secrets from Ray Nielsen
the company’s founder for a $1,500,000
convertible note having an 8% yield.
Smart World’s proprietary products have been
established through a unique research approach that has separated Smart
World Organics from most competition in the market place. Its products
are manufactured through the implementation of numerous trade secret
formulas developed over the past 35 years of hands-on field and
laboratory research. These high tech organic formulas consist of
nutritionals (fertilizers) both liquid and dry, organic polymers, seed
treatments, soil biologicals, organic carbons, as well as organic plant
protection against insects, fungus, virus and environmental growing
issues. Mr. Nielsen is a respected, sought-after speaker and resource to
many companies, universities, associations, and individuals in the
identification of and the solutions to the industry’s
issues that face today's growers. The company has customers throughout
the United States and in many foreign nations. It will be operated as a
wholly owned subsidiary maintaining its brand identity.
Carl P. Ranno, President and CEO of American Soil Technologies, stated, “we
think that the addition of Smart World’s
organic and sustainable products to our portfolio soil amendments and
slow release fertilizer will allow the complementary product line of the
combined enterprise to enjoy a more rapid growth than each separate
business would as a stand-alone unit resulting in our revenues
increasing by a factor of 3 this coming year.”
Mr. Ranno added that, “based upon the
beneficial effects of using sustainable and organic products and the
water saving ability of polymers, we feel that future practices in the
green industry will prove that a combination of our organic, sustainable
and polymer soil amendments will reduce costs, increase yields and save
water in all segments of our industry. The demand for organic,
sustainable and polymer-based products is increasing in the turf,
retail, horticulture and agricultural segments of our markets on a
global basis.”
About American Soil Technologies Inc.
American Soil Technologies is in the $150 billion green industry. The
company develops, manufactures and markets cutting-edge technology that
decreases the need for water in agriculture and other plant growing
businesses, and promotes sustainable growing environments. More product
information on both companies can be found on the corporate Web site,
located at www.americansoiltech.com
and www.smartwp.com
This release contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. All
forward-looking statements are inherently uncertain as they are based on
current expectations and assumptions concerning future events or future
performance of the company. Readers are cautioned not to place undue
reliance on these forward-looking statements, which are only predictions
and speak only as of the date hereof. In evaluating such statements,
prospective investors should review carefully various risks and
uncertainties identified in this release and matters set in the
company's SEC filings. These risks and uncertainties could cause the
company's actual results to differ materially from those indicated in
the forward-looking statements.
