Bio-Solutions International Announces Sale of Manufacturing Assets.Business Editors HATTIESBURG, Miss.--(BUSINESS WIRE)--March 16, 2004 Bio-Solutions International, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BSII BSII BASIC Stamp II (microprocessor) BSII Bio-Solutions International, Inc. BSII Bechtel Systems and Infrastructure, Inc. BSII Broken Sword II (game) BSII Bacnotan Steel Industries, Inc. ), a developer and marketer of Bio-Plumber(TM) bio-remediation products announced today that the company has sold its manufacturing division to Bio Solutions Manufacturing, Inc. ("BSMI BSMI Bureau of Standards, Metrology and Inspection (China) "). The sale consisted of cash, notes receivable, the assumption of debt, and stock in BSMI. The sale of the manufacturing division relieves BSII of continued funding requirements for that division, stops additional operating division debts and adds assets to its balance sheet. In addition, it frees BSII to focus more aggressively and intently on its marketing operation, which has long been a primary focus. Under the terms of the sales agreement, BSII is entitled to acquire all BSMI products at favorable prices under a long-term contract. Relief from the manufacturing burden should enable BSII to strengthen its marketing arm. About Bio-Solutions Bio-Solutions International is a technology provider of biological solutions to meet the demands of customers seeking environmentally friendly Environmentally friendly, also referred to as nature friendly, is a term used to refer to goods and services considered to inflict minimal harm on the environment.[1] forms of waste remediation. Through bioremediation bi·o·re·me·di·a·tion n. The use of biological agents, such as bacteria or plants, to remove or neutralize contaminants, as in polluted soil or water. , the company is dedicated to solving environmental problems with nature's own resources using substrate specific systems to break down undesirable waste products into environmentally friendly substances. The biological solutions consist primarily of bacteria and enzyme formulations that provide our customers with the ability to safely remove pollutants pollutants see environmental pollution. while maintaining a natural balance. The company's product line is capable of bioremediating a variety of environmental pollutants environmental pollutants, n.pl the substances and conditions, including noise, that adversely affect the health and well-being of the people within a community. such as grease, manure and petrochemicals. These products provide a safe, environmentally friendly, and economical alternative to the use of harsh or dangerous chemicals. Bio-Solutions products are sold through its franchisee network consisting of over 20 franchised territories in over 10 states. The common stock of the company is traded on the Over-The-Counter ("OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). ") Bulletin Board market, in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , with the symbol: BSII. Further information on Bio-Solutions can be found at www.bio-solutions.com. This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. |
|
||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion