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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: bigbuk who wrote (34338)	3/7/2000 3:27:00 PM
From: myturn	Read Replies (1) \| Respond to of 150070

I am in STKSF. ZSON, I have to borrow some money from my pennies. DHMG, looking real sweet. I believe the MMs are short in this one. They have been playing DUH? on this one for some time now.

To: bigbuk who wrote (34338)	3/7/2000 3:29:00 PM
From: TGO	Respond to of 150070

WLDC getting some attention....moving... TGO

To: bigbuk who wrote (34338)	3/7/2000 3:29:00 PM
From: SSP	Read Replies (1) \| Respond to of 150070

WRII - from the July 7/99 press release - things should be looking up just about now if the plan was followed. Waste Recovery Announces Re-Capitalization Plan & New Board Composition DALLAS, July 14 /PRNewswire/ -- Waste Recovery, Inc. (OTC Bulletin Board: WRII) (the "Company"), the leading American processor of scrap tires and producer of tire-derived fuel (TDF), announced today that it has raised $1 million in new cash through the sale of convertible debt. The Company's Board authorized a total issue of $1.5 million and expects the remaining $500,000 of convertible debt to be sold in the next sixty days. The convertible debt is an obligation of Waste Recovery-Illinois, a partnership which owns the Company's two Illinois facilities. The term of the debt is for five years and provides for conversion into 49% of the common shares of Waste Recovery, or a price of approximately $.08 cents per share. In connection with this transaction the Company has reduced the size of its Board of Directors from six to three through the resignations of Messrs. Stephen P. Adik, Steven E. MacIntyre, and Robert L. Thelen. Proceeds from the sale of this debt will be used for working capital purposes. "In our last public announcement I was quoted as saying that 1998 was Waste Recovery's most difficult year since it was founded in 1982," said Tom Earnshaw, President. "While these difficulties continued into the early part of 1999, we have seen improvement in our operations in the second quarter, which leads us to believe that the second half of 1999 will be significantly better than the first. Nevertheless, we are faced with the cumulative effect of almost $4 million of losses incurred in the last 24 months, which has seriously damaged our balance sheet. As a consequence of these events, we have instituted an aggressive program in which we are using a defined limited amount of cash to pay off at a discount or defer at no interest, a significantly larger amount of liabilities. This program should enable us to repair our balance sheet by the end of this calendar year, which when combined with the continued improvement in the operations of our facilities, leads us to believe that we will have successfully weathered this crisis. "Today all of our facilities are back in service and are operating on a cash positive basis. The individuals who have advanced the new capital in the Company are fully supportive of the new management which is evidenced by the change in the board described above. We have high conviction that our business plan is the right one and we look forward to better times." Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, those discussed in filings made by the Company with the Securities and Exchange Commission. SOURCE Waste Recovery, Inc. -0- 07/14/99 /CONTACT: Thomas L. Earnshaw, President and Vice Chairman of Waste Recovery, Inc., 214-741-3865/ (WRII) CO: Waste Recovery, Inc.