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Sub-Surface Waste Management Going Public
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Sub-Surface Waste Management Going Public
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FOR IMMEDIATE RELEASE
Sub-Surface Waste Management Going Public
BUGS Implements Strategy to Increase Value of Core Technology for
CALIFORNIA, CARLSBAD, Oct. 15 -/E-Wire/-- U.S. Microbics, Inc., (OTCBB: BUGS), an innovative environmental solutions provider, intends to make its wholly owned subsidiary, Sub-Surface Waste Management, Inc. (SSWM), a publicly traded company within the next sixty days in order to increase the value of its core environmental technology, attract growth capital and provide a future dividend of SSWM stock for BUGS shareholders. BUGS will remain the major shareholder and will continue to consolidate SSWM financial results. Dividend distribution is expected on or before December 31, 2002.
Robert Brehm CEO of US Microbics, Inc. stated, "During the past year, SSWM has shown a significant increase in revenues and is now ready for a major revenue breakout which requires additional growth capital for planned acquisitions, international licensing and teaming and internal project growth. By taking SSWM public, we should be able to increase the valuation of the core environmental technology on an independent market basis rather than as a percentage of BUGS‚ market capitalization which has fallen in a depressed stock market. SSWM will work with our subsidiary, USM Capital Group, Inc. to help SSWM go public and raise capital for its future growth."
Bruce Beattie, President of SSWM stated, "I am excited about our future as a public company and our direct access to growth capital. Over the past several years BUGS has invested over $5 million into SSWM and we are now looking for an additional $5 million to propel us over the $20 million revenue mark with positive earnings. The acceptance and performance of our patented bio-technology for activated carbon recycling, dry cleaning fluids remediation and groundwater cleanup has been greater than expected and we are preparing for a significant ramp up in revenues. We plan to use the additional capital to invest in our core-engineering competency, sales and revenue growth through strategic acquisitions and to further our biotechnology applications through licensure and teaming agreements."
SSWM 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.
For further information about SSWM, contact Bruce Beattie by phone at [REDACTED-PHONE] x 103 or by E-mail: [REDACTED-EMAIL] or learn about the company by visiting the website at http://www.bugsatwork.com
U.S. Microbics Inc., Carlsbad, CA,
Robert Brehm, [REDACTED-PHONE], ext. 102
http://www.bugsatwork.com
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