SEVT - SUMMIT ENVIRONMENTAL CORP INC Message Board

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Technology Stocks : SEVT - SUMMIT ENVIRONMENTAL CORP INC

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To: Joe Copia who wrote (27)	12/7/1999 11:05:00 AM
From: Scottey	Read Replies (1) of 70

Summit Environmental: Completion of Patent Rights Purchase LONGVIEW, Texas, Dec. 7 /PRNewswire/ -- Summit Environmental Corporation Inc. (OTC Bulletin Board: SEVT - news) announced, December 3, that it has completed the purchase of the Patent Rights and Intellectual Property Rights for the companies Flagship products FlameOut© and FirePower 911(TM). FlameOut is officially listed and certified as Surfactant Blend A: FlameOut with the United States Environmental Protection Agency as a certified replacement for the globally banned firefighting agent Halon 1211. Under the Significant New Alternative Policy -- code name SNAP -- FlameOut is one of only several permanent certified replacements. FlameOut not only is approved for commercial use as all the others but is also approved for residential application. FlameOut is also a dually UL Listed wetting agent and low density form for both Class A and Class B fires with a listing number of 7P21. FirePower 911 is the companies other star. FirePower 911 is the only rated fire extinguisher in an aerosol can, which carries proper National Fire Protection Association-NFPA 10 rating. FirePower 911 has been tested and rated according to Ansi/UL 8 and Ansi/UL 711. There are other aerosol products in the marketplace that tout ``Fire Extinguisher' on the can. These products are in clear violation of State Fire Codes and are subject to enforcement action for violations of the State Fire Code Statute for portable fire extinguishers. Summit purchased these rights from BioGenesis and Dr. Moshen Amiran on November 2, 1998 with an agreed plan of both company stock and cash. The deadline for completion was set for December 1, 1999, and as such both Summit and BioGenesis have completed the terms of the purchase. Terms are disclosed in the companies latest 10-QSB on file, as Summit is a fully reporting company. The completion of this agreement leaves Summit as a completely debt free public company. With all the marketing agreements, research and development projects and the completion of the previously mentioned Patent Rights, Summit is a company positioned for explosive growth. For additional Information contact Keith Parker, CEO at 1-800-522-7841. Except for the historical information contained herein, the matters set forth in today's presentation are forward-looking statements within the meaning of the ``safe harbor' provisions of the private securities litigation reform act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These forward-looking statements speak only as of the date herein. Summit disclaims any intent or obligation to update these forward-looking statements. SOURCE: Summit Environmental Corporation Inc.

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