QualityStocks would like to highlight Scorpex, Inc. (Pinksheets: SRPX). The Company is focused on becoming a leader of hazardous and toxic waste disposal in the Baja Mexico/California region where demand for waste management exceeds capacity. Scorpex's future expansion plans include constructing other strategically placed, specially designed, storage, recycling and disposal facilities in various locations throughout Mexico.
In the company’s news today,
Scorpex, Inc. provided current and prospective investors with an update regarding the previously announced initiatives for the current calendar year.
To date, the Company has:
1. Signed a $30 million equipment contract with International Environmental Technologies, Inc. (“IET”) for the acquisition and installation of waste gasification/thermal oxidation equipment as well as a license to use the technology.
2. Secured financial commitments for up to $35 million of non-dilutive financing; contingent on the issuance of necessary permits. The Company continues to evaluate its options as additional low-cost financing offers are anticipated.
3. Received its Use of Soil Permit from the Mexican federal government following the submission of numerous studies and compliance with every request. The permit is necessary for the issuance of certain state and local operational permits, which are anticipated to be granted to the Company in the very near future.
4. Engaged an accounting group to prepare its financials for a formal audit. Following completion, Scorpex intends to file financial reports with the U.S. Securities and Exchange Commission (“SEC”) and take the next step of listing on a senior securities exchange after meeting other criteria of the exchange.
5. Appointed an interim Chief Financial Officer to the management team and made two additions to its Board of Directors. The individuals have accumulated extensive experience and success in both the public and private sectors. Additional candidates are being evaluated to further enhance leadership of the Company.
6. Secured the investor relations services of MissionIR to communicate Scorpex’s business strategy to the investor community as well as keep investors informed of ongoing progress.
Chief Executive Officer Joseph Caywood stated, “Our progress over the last ninety days has been nothing short of remarkable. Even though we are only in the third quarter, our Company has accomplished nearly all business objectives that were set for completion this year. This is a testament not only to the competence of our team, but also the exhaustive groundwork that has been laid over the years. Our excitement continues to build as we make great strides forward in the execution of our business strategy.”
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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
