TORONTO, ONTARIO — (Marketwire) — 03/30/12 — John G. Simmonds, Chairman and CEO of Wireless Age Communications Inc. (PINKSHEETS: WLSA), operating as Vertility Technology Corporation () today announced that test results on the CR40 Crumb Products are outstanding and can be viewed on our website.
With these results verifying the benefits of CR40 over the competition, Vertility Environmental Engineering Corp. (“VEEC”) has now contracted, through Newlook Industries, to produce more than 1,000 tons of CR40 this year.
We expect our revenues by year end to be over $5M on CR40, CRF40 bulk products and other related products such as containment booms, portable tote bags and remediation filters producing an EBITDA in excess of 20% of revenues.
We also expect to enter into agreements with oil recyclers to purchase our used crumb and fibre. They will separate the oil products for cleanup and the remaining crumb and fibre can be used in a variety of consumer products.
We have always adhered to the philosophy of a complete environmental circle of recovery. Simply removing the spill from freshwater and seawater has never been the complete solution for us. William B. Packer Jr., Vice Chairman of our Advisory Board, has continuously expressed the desire for his company to obtain our spill salvage and recycle it into usable oil or fuel products. His group of companies has the desire and capability to clean our salvage. This final step allows us to not only remove the environmental threat but also to insure the damaged oil is recycled to its former intended use prior to the spill accident.
The CR40 and CRF40 will also be used in the ground water remediation equipment which will be acquired by Vertility Environmental Engineering Corp. and leased out to owners of contaminated land. We expect to purchase 20 to 30 of these units in this fiscal year from Newlook Industries Corp. for approximately $2M and lease them out at a rate of $10,000 per month, per unit. These units are unmanned, work 24/7, are computer monitored and require filter maintenance only once per week. We expect to increase our fleet substantially in 2013 as a result of a significant increase in demand due to the regulatory changes with respect to soil testing in the Province of Ontario. By the end of 2013, we expect to expand this business throughout North America. This will be a very profitable business.
Vertility Technology Corporation is a public company focused on acquiring and expanding companies providing end-to-end cycle solutions for waste and energy efficient products and services for residential, commercial and industrial end users.
This press release contains “forward looking statements” as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on currently available competitive, financial and economic data and management-s views and assumptions regarding future events. Such forward-looking statements are inherently uncertain. Wireless Age Communications, Inc. cannot provide assurances that the matters described in this press release will be successfully completed or that the company will realize the anticipated benefits of any transaction. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to: global economic and market conditions; the war on terrorism and the potential for war or other hostilities in other parts of the world; the availability of financing and lines of credit; successful integration of acquired or merged businesses; changes in interest rates; management-s ability to forecast revenues and control expenses, especially on a quarterly basis; unexpected decline in revenues without a corresponding and timely slowdown in expense growth; the company-s ability to retain key management and employees; intense competition and the company-s ability to meet demand at competitive prices and to continue to introduce new products and new versions of existing products that keep pace with technological developments, satisfy increasingly sophisticated customer requirements and achieve market acceptance; relationships with significant suppliers and customers; as well as other risks and uncertainties, including but not limited to those detailed from time to time in Wireless Age Communications, Inc. SEC filings. Wireless Age Communications, Inc. undertakes no obligation to update information contained in this release. For further information regarding risks and uncertainties associated with Wireless Age Communications, Inc.-s business, please refer to the risks and uncertainties detailed from time to time in Wireless Age Communications, Inc.-s SEC filings.
Contacts:
Wireless Age Communications Inc.
Mr. John G. Simmonds
Chairman, President and Chief Executive Officer
905-833-2753 ext. 223
You must be logged in to post a comment Login