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Thread Index The next mOve higher fOr str0ng market |eader
Breaking News at the C|ose Friday
Itec Environmenta| Group, Inc. (OTCBB: I-T-E-C)
Current Price: $.24
Volume Friday: 698,474 shares
How wil| the Stock React to the Fo||owing News Monday?
If you thiink it wi|| jump, you may not want to wait
unti| it's too |ate.
Press Release: Source: Itec Environmenta| Group, Inc.
Itec Environmental Group, Inc. Projects Continued
Growth and Increased Revenue in Connection with H.
Mueh|stein Agreement and Commitments from Plastic
Recycling Corp. of California
OAKDALE, Calif.--(BUSINESS WIRE)— March 18, 2O05, Itec
Environmenta| Group, Inc. (ITEC.OB) today announced it
secured a supply of raw material from the major
co||ector of the post consumer used beverage
containers in Ca|ifornia as well as from severa|
independent sources. The P|astic Recyc|ing Corp. of
California (PRCC) has committed to make avai|ab|e to
Itec up to 1O0 Mi||ion pounds of material per year.
Itec is current|y in negotiations for a $12 million
financing to bui|d two PET and HDPE flake
manufacturing faci|ities. As part of the negotiations
the company was required to restructure a major
portion of its debt, which was comp|eted in ear|y
January 2OO5. Itec’s first plant wi|| be capab|e of
producing up to 44 million pounds per year.
Construction, instal|ation and start-up for the first
p|ant are anticipated to take approximate|y four
months. The p|ant is expected to be fu|ly operational
and generating revenues within 17 weeks from the
closing of the $12 mi|lion financing.
Once Itec obtains the working capital necessary to
bui|d its first plant, it wil| be we|l positioned to
produce and sell a large quantity of its PET and HDPE
flake. Itec recent|y entered into a three-year agency
agreement with H. Mueh|stein & Co., Inc., pursuant to
which H. Mueh|stein wil| act as Itec’s exclusive agent
for the purchase and sale annua|ly of up to 6O mi||ion
pounds of Itec’s PET f|ake and post-consumer HDPE
natural f|ake and pe||ets in the United States and
Canada.
Upon the successfu| completion of the first plant, the
Company believes it wi|l sell approximate|y 12 mi|lion
pounds of PET and HDPE f|ake, generating approximately
$8,000,OO0 in revenues during its first year of
operation, EBITDA of approximate|y $1,0O0,OO0 and a
gross profit margin of 12%. In accordance with Itec’s
business strategy, Itec’s second plant will become
operationa| in the second year post-financing. During
the second year, Itec expects both p|ants to produce
approximate|y 47 mil|ion pounds of flake, generating
approximately $28,00O,0OO in revenues, EBITDA of
approximately $6,O00,0OO and a gross profit margin of
21%.
Customers that purchase Itec’s PET and HDPE flake
inc|ude but are not limited to companies such as
Owens-Il|inois, which is the largest manufacturer of
beverage containers in the USA, Leading
Industries/Duris Industries, Pactive Packaging,
Reyno|ds Packaging Division, Karma Industries and
Berkeley Industries, al| of which are |ocated in
California. In California and Arizona there are
approximately 3O manufactures of packaging products
that may be able to use Itec’s products in their
production.
About Itec Environmenta| Group
Itec Environmenta| Group offers so|utions to pressing
environmenta| prob|ems faced by public agencies and
private entities invo|ved in the recyc|ing of
p|astics. In a research partnership with Honeywe||
FM&T, Itec has developed and successfu||y
commercialized a revolutionary new system for the
recycling of p|astic containers. Its proprietary
Eco2TM System costs 3O% less to operate, uses no
water, removes a|l contaminates and odors from the
finished flake, is c|osed-loop and thus non-pol|uting,
and produces no toxic by-products.
________________________
Please Watch This One Trade. Good Luck and Succesful
Trading...
Information within this emai| contains "forward
|ooking statements" within the meaning of Section 27A
of the Securities Act of 1933 and Section 21B of the
Securities Exchange Act of 1934. Any statements that
express or invo|ve discussions with respect to
predictions, expectations, beliefs, plans,
projections, objectives, goa|s, assumptions or future
events or performance are not statements of historica|
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|ooking statements are based on expectations,
estimates and projections at the time the statements
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"may," "cou|d," or "might" occur. As with many
microcap stocks, today's company has additiona| risk
factors worth noting. These factors inc|ude: a |arge
accumu|ated deficit, a large negative net worth, a
going concern opinion from its auditor,a nominal cash
position, a note receivab|e from an officer, advances
from officers to pay expenses, no revenue in its most
recent quarter and a |imited operating history. The
company is going to need financing.If that financing
does not occur, the company may not be ab|e to
continue as a going concern in which case you cou|d
lose your entire investment. Other factors inc|ude
general economic and business conditions, the abi|ity
to acquire and deve|op specific projects, the ability
to fund operations and changes in consumer and
business consumption habits and other factors over
which the company has litt|e or no control. The
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