in my opinion this is the wrong place to post on a $5.00 stock, i could be wrong.
(COMTEX) B: World Waste Technologies, Inc. Announces $2,000,000 in Additio
B: World Waste Technologies, Inc. Announces $2,000,000 in Additional Funding
SAN DIEGO, Feb 24, 2005 (BUSINESS WIRE) -- World Waste Technologies, Inc.
(OTCBB: WDWT.OB) today announced it has received $2 million in additional
funding from an institutional investor. Pursuant to the financing, World Waste
issued 800,000 Units, each Unit comprised of one share of common stock and
warrants to acquire up to an additional 0.25 shares of common stock at an
exercise price of $0.01, at a purchase price of $2.50 a Unit. The company has
agreed with the investor to register the resale of these shares in accordance
with the Securities Act of 1933.
"We are making significant progress in the construction of our first facility.
Several pieces of equipment have arrived, including the three largest and most
expensive pieces; the two autoclaves and the twin wire press are on site and
fully paid for," said Thomas L. Collins, World Waste's, chief executive officer.
"Although we still need to raise a significant amount of additional capital,
this new funding is an important piece in our ongoing efforts to raise the funds
to complete this facility."
World Waste is in the process of installing Pressurized Steam Classification
Vessels, and pulp cleaning and screening equipment as part of its planned
500-ton per day municipal solid waste processing plant in Anaheim, CA. The
Pressurized Steam Classification Vessels will enable World Waste to efficiently
extract cellulose fiber from municipal solid waste that can be resold to paper
and cardboard manufacturers in the form of a wetlap product.
About World Waste Technologies, Inc.
World Waste Technologies, Inc., based in San Diego, California, is an early
stage development company engaged in the waste recycling and pulp manufacturing
industry. World Waste holds an exclusive license to patented technology which,
in experimental conditions, has processed small amounts of municipal solid waste
to successfully reduce the waste's volume and yield a grade of cellulose fiber
suitable as a partial furnish replacement in unbleached packaging products. More
information on World Waste is available at www.worldwastetech.com.
Safe Harbor Statement
This press release includes certain "Forward-Looking Statements" within the
meaning of section 21E of the Securities Exchange Act of 1934, as amended. All
statements regarding potential results and future plans and objectives of World
Waste, are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will prove to be
accurate and actual results and future events could differ materially from those
anticipated in such statements. Important factors that could cause actual
results to differ materially from our expectations include, but are not limited
to, those factors that are disclosed under the heading "Risk Factors" and
elsewhere in our documents filed from time to time with the Securities and
Exchange Commission. Other risk factors may include, but are not limited to, our
ability to obtain financing on acceptable terms, or at all, cost overruns in
connection with the construction of our plant, working capital constraints,
fluctuation in quarterly results, and increased competition for the fields
targeted by the company, our ability to commence operations as scheduled, the
economical operation of the process we intend to operate and our ability to
protect the proprietary technology we use. Further, the company operates in an
industry sector where securities values are highly volatile and may be
influenced by economic and other factors beyond the company's control, such as
announcements by competitors and service providers.
The contents of this press release are presented as a general overview of the
company. It is intended only to contain general information regarding the
company and its business and does not purport to provide complete disclosure or
analysis of all matters which may be relevant to a decision to make an
investment, including all risk factors or similar considerations. Although the
information is believed current as of the date herein, the information may be
subject to change, amendment or supplementation, and the company does not
expect, and assumes no obligation, to update or otherwise revise the information
herein.
SOURCE: World Waste Technologies, Inc.
CONTACT: World Waste Technologies, Inc.
Jeff Wenker, 206-755-7843
jeff@wenkerpr.com
Copyright (C) 2005 Business Wire. All rights reserved.
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KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: ENVIRONMENT
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2005
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