Sub-Surface Waste Management Inc. Bids $1.2 Million in New Contracts.Business Editors CARLSBAD, Calif.--(BUSINESS WIRE)--June 24, 2003 Sub-Surface Waste Management Inc. (SSWM SSWM Surface and Storm Water Management ), a subsidiary of U.S. Microbics Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BUGS), announced that it has begun to aggressively bid new contracts for bioremediation work in the State of South Carolina via the Department of Health and Environmental Control (DHEC DHEC Department of Health and Environmental Control DHEC Deep Heat Energy Corporation ). Recent bids to date have totaled more than $1.2 million, and the company expects to continue bidding over the next several months and quarters. The company has successfully completed or commenced five environmental remediation contracts for the State's Underground Storage Tank An Underground Storage Tank (UST), in United States environmental law, is a tank and any underground piping connected to the tank that has at least 10 percent of its combined volume underground. Rehabilitation Program (UST USt Umsatzsteuer (German: Tax) UST Underground Storage Tank UST University of St. Thomas (Minnesota, Texas) UST University of Santo Tomas (Manila, Philippines) ). For the program, contracts have been awarded to clean up petroleum compounds, such as underground and groundwater contamination by MtBE, BTEX BTEX Benzene, Toluene, Ethylbenzene, and Xylenes (volatile organic compounds) and Naphthalene naphthalene (năf`thəlēn'), colorless, crystalline, solid aromatic hydrocarbon with a pungent odor. It melts at 80°C;, boils at 218°C;, and sublimes upon heating. . With continued success, the company hopes to bid, win, bond and execute numerous additional contracts out of more than 3,800 Underground Storage Tank cleanup projects in South Carolina backlog, as listed by the U.S. Environmental Protection Agency Environmental Protection Agency (EPA), independent agency of the U.S. government, with headquarters in Washington, D.C. It was established in 1970 to reduce and control air and water pollution, noise pollution, and radiation and to ensure the safe handling and . The average contract fee won by SSWM in the past has come in at approximately $200,000, and the company anticipates project fees to continue in this range. SSWM Inc. CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Bruce Beattie commented, "We are delighted with the $1.2 million in backlog proposals that we have generated, and will continue to do so as we move SSWM further into the commercialization phase. This is just the beginning -- we anticipate many more revenue-generating opportunities for SSWM through these South Carolina projects over the next several months and quarters." About Sub-Surface Waste Management A subsidiary of U.S. Microbics, Sub-Surface Waste Management Inc. provides comprehensive civil and environmental engineering project management services including specialists to design, permit, build and operate environmental waste clean-up treatment systems using conventional, biological and filtration technologies. SSWM is capitalizing on its patent and patent-pending technology by forming strategic alliances and joint ventures with well-established engineering firms in the environmental industry today in the U.S. and Mexico and in the future in Europe, the Middle East, Indonesia, Latin America and Asia. Core competency revenue streams will be expanded through licensing of the SSWM biotechnology with upfront fees, ongoing royalties and microbial product sales. About U.S. Microbics U.S. Microbics is a business development and holding company that facilitates and develops the deployment of environmental technologies through its two divisions, USM USM abbr. 1. United States Mail 2. United States Mint USM n abbr (= United States Mint) → US-Münzanstalt (= United States Mail) → US-Postbehörde Solutions and USM Capital. The company has holdings in more than eight corporations, including five majority owned subsidiaries. Investors and media contact Justin Keener of USM Capital Group at 760/918-1860, ext. 128 or justin@bugsatwork.com; or learn about the company by visiting its Web site at www.bugsatwork.com. To join the company's mailing list, send your name and e-mail address to justin@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 Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial 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. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion