website news page. I recommend anyone who is thinking of buying into this dog to read all the releases. You'll notice that there is no follow up on any of the stories and none bear fruit.
bico.com
This story was another of their big money makers with "potential". All smoke. The company had no income and they come out with these headlines.
03-05-98 : BIOCONTROL ACQUIRES METAL COATING COMPANY WITH
1998 POTENTIAL REVENUE OF $450 M
Pittsburgh, PA - March 5, 1998 - Biocontrol Technology, Inc. (Nasdaq:BICO) announced
today that it has acquired the controlling interest in International Chemical Technologies,
Inc.(ICTI), a Florida company with a patented revolutionary new metalcoating technology
that is an alternative for hard chrome and electroless nickel. Details of the acquisition are
limited at this time, but did involve a minimum down payment with the balance payable over a
three-year period. In 1998, ICTI's potential revenues from the $48 billion metal finishing
industry could be as high as $50,000,000 with sizable profit margins.
Incorporated to produce and market cemkote(r) coating, ICTI, located in Palm City, FL, has
a 10,000 sq. ft. state-of-the-art plating facility capable of annual chemistry sales of
$50,000,000 and plating sales in excess of $20,000,000. In addition to production, this
facility will be used as a demonstration and training facility for additional plants and potential
licensees of the coating technology. In business since August of 1997, ICTI has invoiced,
tested for, or is in negotiations with companies such as Ford Motor; General Motors; Allied
Signal Braking Systems; Pratt Whitney Aircraft; USA Today,New York Times, Los Angeles
Times, and The San Francisco Chronicle. "Because those who have already used and tested
it claim that in the very near future cemkote will capture the majority of the vast metal alloy
coating business," said Biocontrol Chief
Executive Officer Fred E. Cooper, "Biocontrol expects ICTI and cemkote to generate
immediate revenue and be the major profit center of the company. ICTI is already in serious
licensing contract negotiations with several large coating users." The metal coating, marketed
as cemkote(R), is an alternative forthe approximately ten million metric tons of its application
technology deliver a significantly harder and more abrasive resistant coating without the water
and airborne toxic emissions of chromium plating. These emissions are so much a concern
that the Metal Finishing Subcommittee of the environmental Protection Agency's Common
Sense Initiative is conducting significant research on chromium replacement productsand
improved plating technologies to reduce the toxic wastes. Produced in a very stable bath with
a closed loop system that produces no water discharge and clean exhaust air, cemkote is
cost-efficient and environmentally friendly coating that can be applied to most alloys, including
all steels, titanium and aluminum.
Cemkote is a uniform, nickel boride coating that provides extremehardness, corrosion
resistance, ductility and low friction. The coating is harder than tungsten carbide coatings,
hard chrome and electroless nickel; passes AStm B117 accelerated and salt spray tests of
two hundred (200) hours; and has a lower coefficient offriction than electroless nickel,
tungsten carbide, and hard chrome.
According to the 1996-1997 Market Survey of the Surface Finishing Market Research
Board, the metal finishing industry involves about 10,000 companies generating an annual
$48 billion in revenue and contributing about $40 billion to the US gross domestic product.
At this time, ICTI plans are to license to these metal finishers the use of the cemkote coating
solution; both the solution and the closed loop production system; or an entire plant for
exclusive use of cemkote. Because only industry standard equipment is needed, converting to
the use of cemkote by plating facilities currently using chromium or electroless nickel can be
accomplished quickly within 2 - 3 months.
ICTI also plans to seek joint ventures, develop cemkote-coated product lines, and coat
products from other companies in its own facilities. Literally hundreds of thousands of uses
for cemkote exist in all domestic and international major industries such asaerospace;
petroleum; agriculture; military; tools; mining; textile; printing; automotive; high performance
equipment, etc.
Biocontrol Technology, Inc. has its corporate offices in Pittsburgh, PA and is involved in the
development and manufacture of biomedical devices and environmental products.
This press release contains statements of a forward looking nature. Shareholders and
potential investors are cautioned that such statements are predictions and that actual events or
results may vary significantly. |
