US BioTec, Inc. Begins Quarterly Reporting-Company Reports First Income Estimates of Transportation Division.LAS VEGAS -- US BioTec, Inc. (PINK SHEETS:USBO USBO Utrechtse School voor Bestuurs- en Organisatiewetenschap USBO United States Boxing Organization USBO United States Box Office (movie industry) ), an emerging player in the rapidly growing bio-chemical sector of the multi-billion dollar agri-business industry, today announced that as of the first quarter of 2005, the Company has begun reporting it financial information on a quarterly basis rather than annually. USBO also reports that its wholly owned trucking subsidiary, TelStar Logistics Corp. (TLC TLC total lung capacity; thin-layer chromatography. TLC abbr. 1. thin-layer chromatography 2. ) has generated estimated gross sales of $274,000.00 for its initial operating period of April 12, - June 31, 2005. TelStar is a refrigerated transport trucking company that operates coast to coast. The over-the-road trucking industry is led by such well-known companies as J. B. Hunt Transport Services, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :JBHT JBHT J.B. Hunt Transport Services (stock symbol) ), Yellow Roadway Corp. (NASDAQ:YELL), CNF CNF Configuration (File Name Extension) CNF Conference CNF Conjunctive Normal Form CNF Could Not Find CNF Chin National Front (Burma) CNF Canadian Nature Federation CNF Cornell NanoScale Facility , Inc. (NYSE NYSE See: New York Stock Exchange :CNF) and Swift Transportation (NASDAQ:SWFT SWFT Secure Web Fingerprint Transmission ). US BioTec focuses primarily on the manufacturing and marketing of biotechnology products that are non-toxic, non-carcinogenic and bio-degradable alternatives to the toxic and sometimes carcinogenic agrichemicals that have been widely used by farmers for decades, plus biotech replacement products for pesticides used on golf courses, lawns and gardens and in the commercial turf and forestry industries. The agrichemical ag·ri·chem·i·cal n. Variant of agrochemical. market, which is measured in the tens of billions of dollars annually is controlled primarily by a handful of large multi-national corporations such as DuPont (NYSE:DD), Bayer (NYSE:BAY), BASF BASF Bar Association of San Francisco (since 1872; San Francisco, California) BASF Badische Anilin und Soda Fabrik (German chemical products company) BASF Builders Association of South Florida (NYSE:BF), Dow Chemical (NYSE:DOW) and Monsanto (NYSE:MON). "Since starting from scratch by sending the first truck out on April 12th, we are pleased with our progress to this point," says Tom Lynch President of TLC. "The numbers we have been able to put up thus far have exceeded even our most liberal projections. The timing of our entry into the market could not have been better, as evidenced by secured rates of up to $2.60 per mile in June, far above the $1.50 per mile average used in the cash flow projections last fall." "Our current goal is to have 18 trucks leased-on by December 15, 2005. We currently have ten trucks leased-on and two more in the process of being leased-on. With operations becoming more efficient every week, we believe that TelStar is definitely on the right track to be a very successful venture that should add impressive value to US BioTec's bottom line for a long time to come," adds Lynch. The basic premise behind USBO's entry into the trucking market is that if USBO products are going to help growers produce commodities, then TLC trucks could help growers haul their commodities. USBO already has contacts with growers and a number of produce brokers that can position TLC favorably with even more growers. In addition, TCL See Tcl/Tk. Tcl - Tool Command Language trucks will also lower the company's overhead costs by hauling both USBO's raw materials and finished products. "Posting quarterly reports has begun because it's the next step investors and investment bankers desire in the process of becoming a fully reporting OTCBB OTCBB See OTC Bulletin Board (OTCBB). company," states Jimmy Joyner 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. of US BioTec, Inc. "Bulletin Board status is the intermediate step to USBO's ultimate goal of becoming an AMEX-listed company in the fall of 2006. USBO is presently preparing its 2003, 2004 and 2005 financials for the required audit as the next step in this process. USBO's unaudited financial reports my be accessed at www.PinkSheets.com." About US BioTec US BioTec was established to profitably develop, manufacture, market and distribute bio-degradable, non-toxic and non-carcinogenic products to agriculture, the commercial turf industry, forestry, golf courses, professional landscapers, nurseries and mass market retail lawn and garden markets. USBO is striving to be the U.S. market leader in the expanding bio-chemical sector of the annual multi-billion dollar agricultural chemical marketplace. The Company's products are designed to rehabilitate soils, repel insects and increase crop (plant) yields through environmentally friendly alternatives to toxic man-made pesticides and caustic synthetic fertilizers. To learn more about US BioTec and its products, please visit www.usbioteccorp.com. Certain statements in this news release may contain forward-looking information within the meaning of the Federal securities laws. All statements, other than statements of fact, included in this release may include forward-looking statements that may involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances or to reflect unanticipated events or developments. |
|
||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion