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PSGI Perfect Solutions Group Inc (PK)

0.0169
0.00 (0.00%)
01 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Perfect Solutions Group Inc (PK) USOTC:PSGI 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% 0.0169 0.0061 0.0169 0.00 01:00:00

Prime Star Group Announces SmartPax(TM) "Eco-Film" Packaging Receives Certification of Biodegradability

04/11/2010 12:00pm

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Prime Star Group, Inc. (PINKSHEETS: PSGI) is pleased to announce that its SmartPax™ "Eco-Film" has received certification of biodegradability. SmartPax™ "Eco-Film" has been tested by independent laboratories in accordance with the standard test methods approved by ASTM, ISO and other such standardization bodies to determine the rate and extent of the biodegradation of plastic materials.

Roger Mohlman, Prime Star CEO, stated, "We are thrilled to announce that our proprietary pouch technology will now offer 100% biodegradability; 100 % recyclability at any time. No special storage conditions are required. Through our proprietary blend of polymers, we can avoid degrading by heat, light or external stress. We can now offer indefinite shelf life with no special storage conditions required. Degradation begins at the time of disposal, not before."

"Many states, such as California, charge consumers a fee, such as a 'CRV' (California Redemption Value). This is a fee paid on purchases of certain recyclable beverage containers in California. The consumer pays CRV on the purchase of beverages with aluminum, plastic, glass, and bimetal containers and can be reimbursed if the containers are brought to a recycling center. We believe our SmartPax™ 'Eco-Film' can rapidly gain market share as a result of the cost savings we can pass on to a consumer through avoiding fees such as a CRV deposit at the checkout counter," concluded Mr. Mohlman.

A degradable plastic is defined (ASTM 1991) as a plastic that is designed to undergo a significant change in its chemical structure under specific environmental conditions resulting in a loss of some properties that may vary as measured by standard test methods appropriate to the plastic and the application in a period of time that determines its classification. A biodegradable plastic is defined as a degradable plastic in which the degradation results from the action of naturally occurring microorganisms such as bacteria, fungi and algae.

The biodegradation of the plastic were tested using ASTM D5209-91, "Standard test Method for Determining the Aerobic Biodegradation of Plastic Materials in the presence of Municipal Sewage Sludge", ASTM D5338.98, Standard Test Method for Determining Aerobic Biodegradation of Plastic Materials under Controlled Composting Conditions, which is equivalent to CEN pr EN WI 261085 and the ISO 14855 method.

About Prime Star Group

Prime Star Group, Inc. is a holding company that focuses on four areas of business: SmartPax™ Packaging, Premium Food & Beverage Products, Distribution and Risk Management. The company's operating subsidiaries produce, market, and distribute wines, tea, adult mixed beverages, flavored water, and gourmet seafood products. The company also produces co-brand and co-pack existing high-end beverages and private label liquors for large hospitality and entertainment brands. Prime Star is focused on the food and beverage, entertainment, hospitality, healthcare and disaster relief industries.

Forward Looking Statements - Safe Harbor

This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Prime Star Group, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Prime Star Group, Inc.'s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Prime Star Group, Inc.'s filings with the Securities and Exchange Commission.

Public Relations Contact: Constellation Asset Management, LLC (415) 524-8500 or on the web at www.primestargroup.net

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