Solucorp Industries (CE) (USOTC:SLUP)
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From Jul 2019 to Jul 2024
Solucorp Industries, Ltd. (OTC:SLUP) responds to the March 8, 2007
action taken by the Securities and Exchange Commission in which the SEC
suspended trading in the securirties of 35 companies, including
Solucorp, for a period of 10 trading days. Solucorp was identified as
one of the 35 companies. Solucorp denies any Company initiated
participation in spam e-mail campaigns.
Richard A. Runco, President of Solucorp Industries, Ltd., stated, “The
Company does not solicit or condone spamming activities. The Company’s
own research disclosed that on the web site www.spamnation.info.com
only one spam is listed for Solucorp during the three-year period 2004 -
2007. Solucorp has no knowledge as to the origin or content of that
activity mentioning Solucorp, which is listed to have taken place on
March 29, 2006."
Management clearly recognizes and supports the need for providing
adequate and accurate financial and other pertinent corporate data in
order to thwart spam misinformation. To this end the Company had, prior
to the suspension of the trading of its stock, prepared audited
financial statements for 2002, 2003, and 2004. The 2004 financal
statements, released February 26, 2007, includes an in-depth discussion
of subsequent material events through February 26, 2007. The Company’s
2005 unaudited financial statements have been completed and currently
are being audited. Financials for 2006 are currently being prepared. In
light of the SEC’s highlighting the enormous
spam activity, the need for visible and audited financial data is
apparent. As stated in its December 2006 Letter to Shareholders,
Solucorp has been actively taking the steps necessary to bring its
financials current and to once again become a fully reporting company.
Upon completion of the 2005 audit and commencement of the 2006 audit,
the Company intends to take all steps necessary to become a fully
reporting company - including ultimately filing a Form 10 with the SEC.
The SEC news release stated that its action was “part
of a stepped-up SEC effort - code named ‘Operation
Spamalot’ - to protect investors from
potentially fraudulent spam e-mail hyping small company stocks with
phrases like ‘Ready to Explode,’
‘Ride the Bull,’
and ‘Fast Money.’”
SEC Chairman Christopher Cox said, “10
million spam messages are sent every week causing dramatic shifts in
share price and volume with investors often losing money as a result.”
Friday, March 16, 2007, the Company’s
financial statements, business plan, patents and supporting data, and a
due diligence information book will be sent to members of the Brokerage
community previously interested in accepting unsolicited orders on the
Company’s stock. Additionally, the Company
will post its financials on the company web site (www.solucorpltd.com)
and will provide the information to Pink Sheets.com for inclusion in
their network.
Runco added, “The Company supports the SEC
and its decision to minimize the negative impact of spam and is
cooperating fully to provide business information upon which investors
can rely. Investors will be kept informed on the Company’s
progress in this important matter.”
The Company’s core patented technology
Molecular Bonding System received Environmental Protection Agency (“EPA”)
Superfund “SITE”
(Superfund Innovative Technology Evaluation) approval in 1997 (www.EPA.gov)
and has since successfully undergone other EPA, Department of Energy (“DOE”)
testing and independent tests on many environmental projects both in
United States and abroad. In addition, The Company has recently
completed a remediation project in Ravenna, Italy. The Company has
completed projects in the United States in the past and continues to
actively market its technologies in the United States and Europe. The
Company also holds five patents, one Notice of Allowance and has five
patents pending.
About Solucorp Industries Ltd.
Solucorp Industries, Ltd., is a provider and developer of cost effective
and permanent technologies for the remediation and prevention of
hazardous heavy metal (including lead, mercury, arsenic, chromium,
copper, zinc, nickel, selenium and cadmium) contamination. Solucorp is
the owner of several patents and numerous additional patents that are
pending. Solucorp Industries, Ltd., has three wholly owned subsidiaries:
Solucorp Industries, Integrated Fixation System Company, Inc., and WITS,
Inc.
The foregoing discussion contains forward-looking statements,
which are based on current expectations. Actual results,
including the timing and amount of revenues recognized, contracts
awarded and performed and net income may differ due to such factors as:
delays in payment on contracts due to dealings with governmental and
foreign entities; fluctuations in operating costs associated with
changes in project specifications; economic and other conditions
affecting the ability of prospective clients to finance projects; and
other risks generally affecting the financing of projects. Investors are
cautioned to perform a proper due diligence and consult licensed
professionals prior to making an investment decision.