Texas Department of Transportation Completes Evaluation to Accept Puradyn Bypass Oil Filtration System.Business Editors BOYNTON BEACH Boynton Beach, city (1990 pop. 46,194), Palm Beach co., SE Fla., on the Atlantic coast; inc. 1920. A major suburban area, it is also a beach resort and vegetable-shipping point. , Fla.--(BUSINESS WIRE)--Oct. 12, 2000 Puradyn Filter Technologies, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :PFTI) today announced that the Company had been approved by the Texas Department of Transportation's (TxDOT) General Services Division for its Bypass Oil Filtration System. Based on the conclusions provided to TxDOT from the Tyler District of Texas, several models of the Puradyn Bypass Oil Filtration System were used on different type vehicles for approximately two years. After their initial purchase, these vehicles undergo heavy intensive road use. The following conclusions were reported: -- That the Bypass System extended the time between the frequency of oil changes. (The use of oil analysis was used to make this decision.) -- The Puradyn product is worth the investment. Looked at three similar products before deciding to use the Puradyn filter. To prove not only the obvious environmental and equipment protective advantages of the Puradyn Bypass Oil Filtration System, but its very real cost-effectiveness, Richard C. Ford, Puradyn's 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. , noted that the Tyler District report showed a 30% annual cost savings per year using Puradyn Bypass Filter elements over that of a regular filter. Mr. Ford and Kevin G. Kroger, President/COO, both expressed their satisfaction with the TxDOT evaluation and acceptance and noted these results speak for themselves and certainly validate what other users have been reporting and saying about the superiority of the Company's product. Puradyn Filter Technologies, Inc. manufactures and markets the Puradyn(tm) Bypass Oil Filtration System, a unit that continuously filters lubricating oil by reducing solid contaminants to less than one micron, as well as removing liquid contaminants, therefore maintaining the oil's viscosity and greatly reducing or even eliminating the necessity for oil changes. As a result of this continuous process, the useful engine life can be extended. The Puradyn system is effective for internal combustion engines Internal combustion engine A prime mover, the fuel for which is burned within the engine, as contrasted to a steam engine, for example, in which fuel is burned in a separate furnace. , hydraulic applications and automatic transmissions in the automotive, transportation, construction, marine, agriculture, mining, military and power-generating industries. In addition to the economies realized by the reduced purchases of new oil and the costs of disposing of used oil (up to 90%) and extended equipment life, the Puradyn(tm) Bypass Oil Filtration System has been certified as a "Pollution Preventing Technology" by the California Environmental Protection Agency The California Environmental Protection Agency (Cal/EPA) was created in 1991 by Governor Pete Wilson, through an executive order.[1] The agency combined six board, departments, and offices into one cabinet-level office:[2] With the exception of the historical information contained in this news release, the matters discussed above include 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 involve risks and uncertainties. Actual results may vary substantially as a result of a variety of factors. Among the important factors that could cause actual results to differ are the ability of the Company to increase revenues and gross profit margins Gross profit margin Gross profit divided by sales, which is equal to each sales dollar left over after paying for the cost of goods sold. gross profit margin A measure calculated by dividing gross profit by net sales. , the levels of selling, general and administrative costs administrative costs, n.pl the overhead expenses incurred in the operation of a dental benefits program, excluding costs of dental services provided. as well as research and development costs, validation of the Puradyn Filtration System by OEMS OEMS Office of Emergency Medical Services (Massachusetts government) OEMS Oracle Enterprise Messaging Service OEMS Order Entry Management System and the effects of competition. The failure of any of these factors could cause actual results to differ materially from the forward-looking statements discussed above. |
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