KBF Announces Share Repurchase
PATERSON, New Jersey, Aug. 20 - /EWire/ -- KBF Pollution Management, Inc. (OTC Bulletin Board: KBFP) today reported its plans to repurchase stock this week under its Share Repurchase Program. Kevin Kreisler, KBF's president, stated that "we have recently initiated service for many new generators, some of which are Fortune 500 companies, and we expect that our third quarter revenues will materially exceed our second quarter revenues by at least 30%, with derivative increases in earnings. We expect that these results will be enhanced further as we bring new recycling and mining processes on-line at our facility that will increase the current revenue and profitability of our overall operation. We are working aggressively to bring these processes online and to finish construction of our facility while we scale our operation to meet the current and expected near term increases in contract demand. We are very pleased with our progression, especially given the current levels of producer output, and we believe that KBF's stock is a good long-term investment and we will be investing in this value as our earnings increase with realization of targeted production benchmarks."
Further details on KBF's planned share repurchases, as well as updates regarding several ongoing significant developments, will be disseminated in a shareholder letter later this month.
Under KBF's Share Repurchase Plan, KBF stock may be purchased in the open market, by block purchase from time to time in compliance with the SEC's Rule 10b-18, subject to market conditions, applicable legal requirements and other factors. The Repurchase Plan does not obligate KBF to acquire any specific number of shares. Shares repurchased will be held in the treasury for general corporate purposes or retired. Additional purchases are planned as earnings increase with realization of targeted production benchmarks. More information on KBF's Share Repurchase Plan is available online at http://www.kbf-pmi.com.
About KBF Pollution Management, Inc.
KBF is a growth-stage company that is establishing itself as the premier recycling services provider in the nation. KBF's Paterson, New Jersey flagship recycling and commodity manufacturing center has been designed for the large-scale application of KBF's Selective Separation Technology(TM) ("SST(TM)") (U.S. Pat. Nos.: 5,753,125; 5,908,559; 6,254,782) and other patent-pending and proprietary resource recovery technologies. These process technologies separate, remove and recover a wide range of metals from liquid and solid wastes as well as other production and manufacturing media. Use of SST(TM) and its related processes enables KBF to competitively recycle a much broader array of hazardous and non-hazardous waste than any other recycling service provider that exists today. Wastes managed with KBF's technologies become products that are comparable and superior to the quality of virgin ore material extracted from the ground. Use of KBF's technologies eliminates the federally mandated 'cradle-to-grave' liability for which a waste generator would otherwise remain perpetually liable. KBF's technologies apply to manufacturing, industrial and municipal waste processes that contain metals or otherwise produce a metal bearing waste by-product.
Safe Harbor Statement
The foregoing discussion contains forward-looking statements that are based on current expectations. Actual results, including the timing and amount of anticipated revenues, may differ due to such factors as: regulatory delays; dealings with governmental and foreign entities; economic and other conditions affecting the financial ability of actual and prospective clients; and, other risks generally affecting the financing of projects. Additional risks associated with KBF's business can be found in its Annual Report on Form 10-KSB for the year ended December 31, 2001, and other periodic filings with the SEC. KBF Pollution Management, Inc. trades on the over the counter bulletin board maintained by the NASD under the symbol "KBFP".
For more information:
Joseph B. Schmidt, Corporate Relations, KBF Pollution Management, Inc., One Jasper St, Paterson, New Jersey 07522, 973.942.7700 p, 973.942.7527 f, firstname.lastname@example.org