American Soil Technologies Obtains Second of a Series of Contracts From Ogden Environmental & Energy Services.Business Editors SAN DIEGO--(BUSINESS WIRE)--June 20, 2000 San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. Beautification beau·ti·fy tr. & intr.v. beau·ti·fied, beau·ti·fy·ing, beau·ti·fies To make or become beautiful. beau Project Could Mean More Than $2 Million for Company's Soil Wash Division American Soil Technologies, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :SOYL) today announced its Soil Wash Division has been awarded a subsequent contract, valued at $300,000 and granted by Ogden Environmental & Energy Services, that requires Soil Wash to treat contaminated contaminated, v 1. made radioactive by the addition of small quantities of radioactive material. 2. made contaminated by adding infective or radiographic materials. 3. an infective surface or object. soil from a former bus maintenance facility in downtown San Diego. The agreement is the second awarded to American Soil Technologies regarding the redevelopment project of downtown San Diego. Soil Wash's initial work on the received contaminated soil is scheduled to begin in mid-July. Don Johnson, Vice President of Marketing for the Soil Wash Division, commented, "This is the second in a series of contracts we expect to receive from downtown redevelopment, the accumulated value of which should total more than $2 million this year. We anticipate this agreement will greatly enhance our shareholder value." Neil Kitchen, President of American Soil Technologies, added, "We are honored to have been selected by an industry leader such as Ogden. They are extremely concerned about long term liability of their clients, further demonstrating our ability to address such concerns." About American Soil Technologies, Inc. American Soil Technologies, Inc. develops, manufactures and markets cutting-edge technology that decreases the need for water in dry land farming, irrigated farming and other plant growing environments while increasing crop yield and reducing the environmental damage caused by common farming practices. In addition, the Company holds exclusive rights to a soil washing technology that removes hydrocarbon hydrocarbon (hī'drōkär`bən), any organic compound composed solely of the elements hydrogen and carbon. The hydrocarbons differ both in the total number of carbon and hydrogen atoms in their molecules and in the proportion of hydrogen (petroleum) products from contaminated soil and recycles the soil for commercial use. The Company was formed in September 1999 by acquiring the marketing rights to Agriblend and forming two divisions: Soil Wash Technologies and the Agriblend Division. The technological link between Soil Wash Technologies and Polymers Plus combines the expert knowledge of each company with respect to polymers and soil. The Company believes this strategy will make it a world leader in the science of agronomy agronomy (əgrŏn`əmē), branch of agriculture dealing with various physical and biological factors—including soil management, tillage, crop rotation, breeding, weed control, and climate—related to crop production. . More product information can be found on the corporate Web site, www.americansoiltech.com. Statements in this news release that are not descriptions of historical facts are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are subject to risks and uncertainties. Words such as "expect," "intends," "believes," "plans," "anticipates" and "likely" also identify forward-looking statements. All forward-looking statements are based on current facts and analyses. Actual results may differ materially from those currently anticipated due to a number of factors including, but not limited to history of operating losses operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. , anticipated future losses, competition, future capital needs, the need for market acceptance, dependence upon third parties, disruption of vital infrastructure and intellectual property rights. All forward-looking statements are made pursuant to the Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995. Additional information on factors that may affect the business and financial results of the Company can be found in filings of the Company with the Securities and Exchange Commission. |
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