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PMXX Primix Corporation (CE)

0.000001
0.00 (0.00%)
02 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Primix Corporation (CE) USOTC:PMXX OTCMarkets Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.000001 0.00 01:00:00

Primix Receives Notice from JV Partner of Need to Reorganize Under Chinese Law

03/07/2007 10:13pm

Business Wire


Primix (CE) (USOTC:PMXX)
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Primix Corporation (Pink Sheets:PMXX) received notice from its Chinese joint venture partner of the necessity to reorganize under Chinese law. Qingdao Maple Leaf Environmental Technologies, Inc. (QMLET), Primix’s joint venture company in Qingdao, China failed to meet certain financial and reporting requirements. Although the previous joint venture is being dissolved, we expect to continue our relationship in a similar form with Yuan Qiang of Qingdao Yuantie Investment Management Inc. In the interim, manufacturing of the PrimixTie in China can be continued through Qingdao Yuantie Investment Management Inc. Primix is continuing to pursue its sales prospects in India and South America. Sample crossties were delivered to India from the Primix China plant in June 2007. Additional samples are expected to be shipped to a company in South America in the near future. This press release contains forward-looking statements identified by words such as "believe," "expect," "anticipates" and similar expressions. Actual results might differ materially from those projected in, expressed in or implied by the forward-looking statements. Primix Corporation cautions investors not to place undue reliance on forward-looking statements, which speak only as to management's expectations on this date. Some paragraphs of this press release, particularly those describing Primix's strategies, operating expenses reductions and business plans, contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1993, as amended and Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. While Primix is working to achieve those goals, actual results could differ materially from those projected in the forward-looking statements as a result of a number of factors, including difficulties in marketing its products and services, need for capital, competition from other companies and other actors, any of which could have an adverse effect on the business plans of Primix, its reputation in the industry or its expected financial return from operations. Factors such as these could have an adverse effect on Primix's results of operations. In light of significant uncertainties not included in the forward-looking statements herein, the inclusion of such information should not be regarded as a representation by Primix that it will be achieved.

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