Environmental Solutions Worldwide, Inc. Makes Announcement
23 March 2000
Environmental Solutions Worldwide, Inc. Makes Announcement
TORONTO--March 23, 2000--Environmental Solutions Worldwide, Inc. (ESWW) would like to issue a correction to the speculative rumors presently being circulated on various Internet sites, including a recent share recommendation and specifically a report made by Access 1 Financial, Santa Monica CA, published February 23rd 2000, which consequently was withdrawn from our web site as of March 10th 2000.In the future the company will not publish any third party reports on its Web-site.
ESWW clearly has no control over these independently written reports, nor does the company have any way of controlling various rumors on the Internet, and where they originate.
ESWW management believed that the report contained certain inaccuracies, including the suggestions that;
1. it has begun its first phase of large scale production.
2. its new Catalytic converter will be ready for distribution in 2000.
3. the company will produce revenues of $35 million in 2000.
4. ESWW will be profitable in its first year of sales with anticipated
earnings of $14.2 million in the year 2000.
In addition ESWW wishes to clarify, that its catalytic converter is in the final stage of development, where the first prototypes are presently being produced by Loomis Product Company in Pennsylvania. The company estimates to have its first 100 prototypes ready for further testing by May 2000. Further test results will be announced as, and when these results are available.
The company is presently negotiating with potential JV partners, for a long term R&D, Production and Marketing agreement. An announcement, if and when such agreement has been signed, will be announced in due course.
For further information regarding ESWW, please see its Web-Site at www.cleanerfuture.com.