Cons Ecoprogress...the darn thing has wings!
Consolidated Ecoprogress Technology Inc CES
Shares issued 6,255,129 Dec 15 close $0.33
Wed 15 Dec 99 News Release
Mr. Michael Daniels reports
Consolidated Ecoprogress Technology's new wing-styled sanitary napkins have
arrived. These are the first of the company's products to be produced in
Wales, by Dambi U.K. Limited.
This initial supply will be used for consumer testing purposes over the
next four to six weeks. Laboratory tests were conducted by Dr. Malcolm
Brown, the inventor of B-9 film, a water soluble replacement for plastic.
Dr. Brown said, "All tests with respect to absorbency and product
performance were positive and comparable to competitors products." Given
the same positive test results from consumer testing, the company will be
starting full scale production in both the Dambi and Hospeco (USA) early in
the year 2000. Dambi will be the manufacturer for Europe including the
United Kingdom. The company will continue to use Hospital Specialty Company
Ltd. (Hospeco) for North and South America.
The new wing-styled napkins will be the only flushable and biodegradable
napkins competing in the fastest growing segment of the worldwide
$8-billion (U.S.) feminine hygiene market.
The new napkins will also be tested by Lloyd's Chemists in the U.K., as a
condition of the collaboration agreement between the companies to develop
private label napkins and liners for their 1,200 stores.
The company owns the worldwide rights to B-9 film technology which is
currently being used in the production of Simplicities, Trutona and
Harmonies brands of the world's first flushable and biodegradable sanitary
napkins and liners. This B-9 film technology has been used to produce
prototypes of both cold water and hot water soluble materials. Cold water
soluble film is used in the production of napkins and liners where as the
hot water soluble B-9 film has been spun to produce cloth for the purpose
of making medical garments and apparel which would be flushable and
biodegradable, eliminating the excessive costs associated with special
handling and disposal.
The company has also advised of two delinquent filer notices, a result of a
one-day delay in filing financials, brought about by the additional time
taken due to the change in auditors at year end and a delay in receiving
the list of shareholders and addresses for the annual general meeting, Dec.
22, 1999. The company would like to assure shareholders that these notices
were created by circumstances which rarely occur and are not the practice
of management. |
