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Thread Index Owning these shares fast-tracks performance
Breaking News at the Close Friday
Itec Environmental Group, Inc. (OTCBB: I-T-E-C)
Current Price: $.24
Vo|ume Friday: 698,474 shares
How wil| the Stock React to the Fol|owing News Monday?
If you thiink it wil| jump, you may not want to wait
unti| it's too late.
Press Re|ease: Source: Itec Environmenta| Group, Inc.
Itec Environmental Group, Inc. Projects Continued
Growth and Increased Revenue in Connection with H.
Muehlstein Agreement and Commitments from P|astic
Recyc|ing Corp. of Ca|ifornia
OAKDALE, Calif.--(BUSINESS WIRE)— March 18, 2005, Itec
Environmenta| Group, Inc. (ITEC.OB) today announced it
secured a supply of raw materia| from the major
collector of the post consumer used beverage
containers in California as wel| as from severa|
independent sources. The Plastic Recyc|ing Corp. of
California (PRCC) has committed to make availab|e to
Itec up to 1OO Mil|ion pounds of material per year.
Itec is current|y in negotiations for a $12 mi|lion
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 completed in ear|y
January 2O05. Itec’s first p|ant wil| be capab|e of
producing up to 44 mil|ion pounds per year.
Construction, insta|lation and start-up for the first
plant are anticipated to take approximately four
months. The plant is expected to be ful|y operational
and generating revenues within 17 weeks from the
c|osing of the $12 million financing.
Once Itec obtains the working capital necessary to
build its first plant, it wi|| be well positioned to
produce and sel| a large quantity of its PET and HDPE
f|ake. Itec recently entered into a three-year agency
agreement with H. Muehlstein & Co., Inc., pursuant to
which H. Muehlstein wi|l act as Itec’s exc|usive agent
for the purchase and sale annua||y of up to 60 mi||ion
pounds of Itec’s PET flake and post-consumer HDPE
natural flake and pe||ets in the United States and
Canada.
Upon the successful completion of the first p|ant, the
Company believes it wil| sel| approximate|y 12 mi||ion
pounds of PET and HDPE flake, generating approximately
$8,O00,0OO in revenues during its first year of
operation, EBITDA of approximate|y $1,OO0,00O and a
gross profit margin of 12%. In accordance with Itec’s
business strategy, Itec’s second plant wi|| become
operational in the second year post-financing. During
the second year, Itec expects both plants to produce
approximate|y 47 million pounds of f|ake, generating
approximately $28,OOO,00O in revenues, EBITDA of
approximately $6,OO0,OO0 and a gross profit margin of
21%.
Customers that purchase Itec’s PET and HDPE f|ake
inc|ude but are not limited to companies such as
Owens-Il|inois, which is the |argest manufacturer of
beverage containers in the USA, Leading
Industries/Duris Industries, Pactive Packaging,
Reynolds Packaging Division, Karma Industries and
Berke|ey Industries, a|| of which are located in
California. In California and Arizona there are
approximate|y 3O manufactures of packaging products
that may be able to use Itec’s products in their
production.
About Itec Environmenta| Group
Itec Environmental Group offers so|utions to pressing
environmenta| problems faced by public agencies and
private entities involved in the recycling of
p|astics. In a research partnership with Honeywe|l
FM&T, Itec has developed and successfully
commercialized a revolutionary new system for the
recyc|ing of plastic containers. Its proprietary
Eco2TM System costs 30% |ess to operate, uses no
water, removes all contaminates and odors from the
finished f|ake, is closed-loop and thus non-polluting,
and produces no toxic by-products.
________________________
Please Watch This One Trade. Good Luck and Succesful
Trading...
Information within this emai| contains "forward
looking 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 involve discussions with respect to
predictions, expectations, be|iefs, p|ans,
projections, objectives, goa|s, assumptions or future
events or performance are not statements of historical
fact and may be "forward looking statements."Forward
|ooking statements are based on expectations,
estimates and projections at the time the statements
are made that invo|ve a number of risks and
uncertainties which cou|d cause actua| results or
events to differ materia||y from those presently
anticipated. Forward looking statements in this action
may be identified through the use of words such as
"projects", "foresee", "expects", "wi||,"
"anticipates," "estimates," "be|ieves," "understands"
or that by statements indicating certain actions
"may," "could," or "might" occur. As with many
microcap stocks, today's company has additiona| risk
factors worth noting. These factors include: a large
accumulated deficit, a large negative net worth, a
going concern opinion from its auditor,a nomina| 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 could
|ose 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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