Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Eco Logic Company ( ELI ECO ) Update -- Ignore unavailable to you. Want to Upgrade?

To: Steve Johnston who wrote (268)	5/27/1999 9:20:00 PM
From: J. Kerr	Respond to of 340

I suppose this news release is the reason for the increase in price/volume over the past couple of days. "NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS FOR: ELI ECO LOGIC INC. TSE SYMBOL: ELI MAY 27, 1999 Eco Logic Announces Award Of Contract From Stone & Webster Engineering Corporation In Support Of Chemical Weapon Demilitarization ROCKWOOD, ONTARIO--ELI Eco Logic Inc. ("ECO LOGIC" or the "Company") (TSE-ELI) announced today the award of a contract from Stone and Webster Engineering Corporation to conduct a Process Feasibility Test on Demilitarization Protective Ensemble (DPE) material. This contract, issued under authority of the US Army's Integrated Product Team, includes options to add future task orders for follow-on work. The US Army Program Manager for Chemical Demilitarization (PMCD) has created an Integrated Product Team for Secondary Waste Management to evaluate solutions to the problem of secondary wastes in all US chemical demilitarization programs. Secondary wastes include a variety of materials such as DPE, carbon, and building materials, which are contaminated with hazardous compounds as a result of waste treatment activities. Stone and Webster is conducting a Process Feasibility Test of ECO LOGIC's Gas-Phase Chemical Reduction (GPCR) technology and associated treatment systems, also known as the ECO LOGIC Process, for secondary waste streams. The overall goal of the test program initiated through this contract is to address the application of the ECO LOGIC Process to Stockpile and Non-Stockpile wastes. Stockpile wastes are munitions in secure storage at eight locations in the continental US and one location in the South Pacific. Non-Stockpile wastes are the remaining types of chemical warfare materiel such as recovered chemical weapons and buried chemical warfare materiel. The objective of the testing is to demonstrate that the ECO LOGIC Process meets the US Army's requirement for this task. The results of the test will be used to define and direct further testing of DPE and other PMCD secondary waste. Follow-on work could involve more pilot- and full-scale testing, as well as an engineering/procurement and construction effort for implementation of the process at a US Army chemical demilitarization facility. Dr. Fred T. Arnold, Chief Executive Officer of ECO LOGIC, stated that "This contract is the result of a significant effort over the past three years to demonstrate the merits of the ECO LOGIC Process for chemical weapons demilitarization and the treatment of associated wastes. Specifically, this test program will allow us to confirm results achieved at our own commercial sites and through trial work in support of new applications. Treatment of secondary wastes that result from initial destruction of hazardous material, like those generated by the US Army at their chemical weapons demilitarization plants and those generated on a daily basis at our facility in Kwinana, Western Australia, presents a sizeable problem within the life cycle of hazardous material management. Our technology, being quite robust and applicable to a broad range of waste matrices, has proven particularly responsive to this application, and we look forward to confirming results in the near term tests". ECO LOGIC's business is to solve toxic chemical problems in a safe, permanent, cost effective manner. The Process is an innovative technology that converts on-site, organic, hazardous waste into reusable or disposable products. This non-incineration process has gained high public and regulatory acceptance. ECO LOGIC's world-wide hazardous waste cleanup market includes PCBs, hexachlorobenzene (HCB), pesticides, dioxins, contaminated electrical equipment, contaminated soils, chemical warfare agents, and certain petrochemical wastes. " Regards. Joe

To: Steve Johnston who wrote (268)	5/28/1999 1:18:00 AM
From: Ichy Smith	Read Replies (1) \| Respond to of 340

"I agree with your concerns about the severe write down in the value of share capital. Strange that they waited to drop this on us now, after they hit us for more money in the recent rights offering." If they had told us about the write down, and then asked for more money to stay afloat, they wouldn't have gotten a dime. This way, they got a million and a half extra dollars, raised the price of the stock, and now write down the value of the company. BTW the options allow them to purchase a share for $.35, which is just spitting in the eye of those of us who paid real money for our shares. I hope to see you at the meeting, I have decided that I should be there.. Regards Peter