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Microcap & Penny Stocks : EXSO -- Consolidated Eco-Systems (Exsorbet Industries) -- Ignore unavailable to you. Want to Upgrade?

To: ChrisJP who wrote (3950)	3/13/1998 6:45:00 PM
From: Deviltrader	Read Replies (1) \| Respond to of 5015

Dear All: Just get this news release ... not like i was expecting! I think we all now know why those selling were happening earlier today this a.m ... :( Tough news for us! ... I think the company is trying to release all bad news that they have currently prior to earning report and 10Q to really give a push to the price ... I hope and believe whatever the company is planning to do will work out positively for us in this near term!!! Regards, Deviltrader ps. I heard Frank3 from last year run-up ... I am very glad you're back in!!! Consolidated Eco-Systems Inc. Announces Action by Dollar Bank Against 7-7, Inc. March 13, 1998 06:23 PM LITTLE ROCK, Ark.--(BUSINESS WIRE)--March 13, 1998--Consolidated Eco-Systems, Inc. today announced that its subsidiary, 7-7, Inc., has been declared in default of a Loan Agreement, Security Agreement, and Forbearance Agreement by Dollar Bank of Cleveland, Ohio. Dollar Bank has additionally accelerated all amounts due to it from 7-7, Inc. The amounts total approximately $850,000. Dollar Bank has also seized all of the funds of 7-7, Inc. on deposit with Dollar Bank. As a result of the actions of Dollar Bank, the business operations of 7-7, Inc. have effectively been terminated. It is not anticipated that the operations will ever be revived. James J. Connors, Jr., President and Chief Executive Officer of Consolidated Eco-Systems, Inc., said, "We are saddened to learn that Dollar Bank has taken this action against 7-7. We understand that 7-7 is currently investigating its rights and remedies in connection with this matter." Consolidated Eco-Systems, Inc. (www.consolidatedeco.com) is a diversified technology and service company providing state-of-the-art technical solutions for problems in site remediation, hazardous waste cleanup services, civil and environmental engineering, management and environmental consulting, and remediation project management. This press release contains forward-looking statements with respect to the results of operations and business of the Company that involves risk and uncertainties. These risks and uncertainties are detailed from time-to-time in the Company's filing with the Securities and Exchange Commission, including the Company's Report on Form 10-K for the year ended December 31, 1996 and on Form 10-Q for the quarters ended March 31, 1997, June 30, 1997, and September 30, 1997.