ARS Networks, Incorporated. Announces Letter of Intent to Purchase Majestic Refilter, Ltd.
SAN DIEGO--(BUSINESS WIRE)--April 2, 2003
ARS Networks, Incorporated a company that commercializes new safety products, today announced that it will purchase all the outstanding shares of Majestic Refilter, Ltd. for two million shares of ARS's common stock.
ARS Networks, Incorporated trades on the OTCBB under the symbol ARSW.
Throughout the world diesel engines are the power plant of choice for running trucks, buses, trains and heavy industrial equipment. Diesel engines dominate the world's roads in ever increasing numbers each year at a very heavy cost to the environment. Diesel engines are the cause of much of the airborne pollutants that choke the vast majority of major cities worldwide. Regulators internationally are setting standards for diesel emissions that must be met at varying milestones during the coming decade.
Sydney Harland, President and Chief Executive Officer of the Company, stated, "As we bring our new product to market, we are delighted to have the opportunity to offer a solution to the ever increasing emissions caused by the over fifteen million diesel engines in operation in the US and in excess of 50 million world-wide. The current output of harmful emissions is estimated to be well above 5 million tons per year. We are positioning ARS as the leader in 21st century public safety technologies."
Regulators estimate that the 24,000 school buses in California alone generate 13 tons of soot daily. According to the Environmental Protection Agency (EPA), each year smog and soot account for 15,000 premature deaths, one million respiratory problems, 400,000 asthma attacks and thousands of cases of aggravated asthma, especially in children.
The Company commercializes safe, cost-effective and reliable technology for the North American safety industry. Refilter's intellectual property features a proprietary process that will offer the transportation industry unrivalled abilities to address public safety by reducing harmful emissions.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
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|Date:||Apr 2, 2003|
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