Thursday July 15, 4:21 pm Eastern Time
Company Press Release
SOURCE: Environmental Digital Services, Inc.
EDSi Receives First Substantial Order
PALM BEACH GARDENS, Fla., July 15 /PRNewswire/ -- James P. Crehan, Sr., Chairman of the Board of Environmental Digital Services, Inc., (OTC
Bulletin Board: EVDS - news; EDSi), a Florida-based publicly traded provider of underground tank monitoring, leak detection, risk management, and
environmental contamination remediation products and services, has announced the receipt of the Company's first substantial order for its in-tank remote
fuel level monitoring device. Tampa, FL-based Environmental Products Services (EPS), a provider of equipment to the fuel distribution industry in the
Southeast and petroleum retailer, has agreed to purchase a minimum of $1.5 million of EDSi's probe and handheld computers over the first twelve months
of production. The purchase order was received in conjunction with the signing of a five-year distributor agreement granting EPS exclusive marketing rights
for existing and future EDSi products throughout western Florida, western Georgia and eastern Alabama. The agreement calls for minimum sales of 6000
units ($3 million at current pricing) per year for all subsequent years of the contract.
Separately, it was announced that the Company's auditors will have completed the certification of the last two years financials by July 20, 1999. At that time
they will be turned over to legal council for inclusion in the Form 10 filing. The Company's attorney indicates that the filing will occur well in advance of an
upcoming NASD deadline.
Safe Harbor for Forward-Looking Statements: Except for historical information contained herein, the statements in this press release are forward-looking
statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known
and unknown risks and uncertainties, which may cause the Company's actual results in the future periods to differ materially from forecasted results. These
risks and uncertainties include, among other things, product price volatility, product demand, market competition, risk inherent in the Company's domestic
and international operations, imprecision in estimating product reserves and the Company's ability to replace and expand its holdings.
SOURCE: Environmental Digital Services, Inc. |
