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UVSS Universal Systems Inc Washington (CE)

0.0001
0.00 (0.00%)
05 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Universal Systems Inc Washington (CE) USOTC:UVSS 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% 0.0001 0.00 01:00:00

Universal Systems Starting the New Year Out Right

28/01/2009 9:12pm

Marketwired


Universal Systems Inc Wa... (CE) (USOTC:UVSS)
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From Jul 2019 to Jul 2024

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Universal Systems, Inc. (PINKSHEETS: UVSS) realizes a bleak economy as the U.S. economy shed a much higher than expected 693,000 nonfarm jobs in December, according to the ADP National Employment Report released recently. Economists had forecast a loss of 470,000 jobs. This report serves as an important prelude to the Labor Department's monthly jobless report; though the two are not always aligned, small and medium-sized firms posted the lion's share of jobs losses, reportedly laying off 280,000 and 321,000 employees, respectively, during the period. ADP said this indicates that the recession has now spread well beyond manufacturing and housing-related activities.

Universal Systems, Inc. ("USI") is experiencing continued growth even though there has been a negative downturn in our economy. We are pleased to announce today that we are concluding our agreement for the purchase of BioStar Technology ("BST") by way of a share sale agreement. This will result in USI having a positive cash flow by way of contracts and having a very large market share of being able to treat oil wells enabling increased production and the ability to clean up waste storage tanks and pipelines. This company is a natural fit with USI and its electrocoagulation equipment and service business. BioStar specializes in supplying microbial, enzymatic, chemical products and technology for the petroleum, refining and pipeline industries to assist with the optimization of crude oil production, crude properties, and all processes associated with hydrocarbon exploitation, transportation, refining, and distribution of its derivatives. BioStar has based its development in products with the highest degree of environmentally safety standards and environmentally conscious procedures. It has operated in Alaska, Louisiana, and California since 1990, including international operations in Canada, Venezuela, Trinidad and Ecuador.

Representatives of BioStar have been very successful thus far in 2009 receiving commitments from several new and existing clients to go forward with projects that were in the planning stages during the wailing months of 2008. These projects consist of reservoir stimulation to increase oil production and at the same time to reduce operational problems within the reservoir utilizing BioStar's microbial and enzyme technologies, supply of chemical products for plant maintenance, and water reclamation from producing oil and gas wells.

These commitments are extremely important to BioStar during this severe national economic downturn. As in past downturns, oil and gas producers, both large and small, become aware that utilization of BioStar's technology and products not only lead to increased oil and gas production but also to lower operational costs. These costs include lowering, and sometimes elimination of, chemical usage, reduced work-overs and lost man-hours for dealing with solutions that arise from these situations. All of these add up to a better bottom line for the oil and gas producers. The states and countries in which BioStar is working in will broaden USI's International presence. We now have new commitments from oil and gas companies for the above projects in Alaska, Louisiana, Texas, California, Trinidad and Venezuela.

"We are excited about the acquisition of BioStar," said Mr. Kevin Chambers, CEO of USI. "Their products and services are especially complementary to our corporate mission to provide economically and ecologically viable water and wastewater treatment solutions worldwide, but it also allows us to have immediate cash flow." This past week USI and BioStar held training classes for personnel being certified to implement various tasks in the oil field.

USI is issuing 2,500,000 shares of "restricted" common stock in exchange for 25,000 shares of common stock in BioStar, representing 100% of the total issued and outstanding shares of BioStar. As such, BioStar would become a wholly owned subsidiary of USI, conducting its daily business separate from, but under the supervision of, USI. In addition, both companies will appoint two (2) members to each other's board of directors.

While our copper cable project is very much in our sites, we are awaiting the final US Forest Service "Right of Entry" approval then we will soon be able to start the recovery of approx. 15 miles. While this cable is the smallest of the three sizes that we have thus far discovered, it is worthwhile to complete this phase of the recovery process. This will not only enhance the environment but eliminate potential harmful creosol and metal contamination. Copper and lead have devalued by 50% over this past winter due to world market vulnerability. Management will have to re-evaluate the costs associated with the recovery plans. In the mean time USI management is actively looking and interviewing potential Joint Venture companies to assist us in the recovery of the larger cable.

USI has just completed its final installment of a 504 capital raise totaling one million dollars ($1,000,000) for this past year and is now preparing to submit the paper work to the SEC for a Regulation "A" filing. This means USI will be raising investment capital throughout the market worth five million dollars ($5,000,000) this year. These funds will be used for several projects that we have identified dealing with mobile units to clean produced water and providing development capital to BioStar Technology.

Universal is very pleased to announce that its first mobile produced water unit is coming along nicely and will soon be presented to Canada where the first stops will be for demonstrations for the Government and other oil service companies. We are so proud to have this unit available. This will now prove to the world that Universal can complete the clean-up where other companies leave off.

An Update regarding Atlas Monetary International Trust ("AMIT"): USI was sought out as part of an extensive research project, wherein AMIT was looking to collaborate with some company or other entity with which AMIT could work with for purposes of advancing a relatively large number of environmental remediation and improvement projects. They were intrigued principally with the filtration capabilities of the Electrocoagulation treatment system.

AMIT reported having three corporations under its banner -- all wanting to perform a number of manufacturing operations and wanted to create equipment to clean up the environment or to reduce the Country's reliance upon foreign oil. After reviewing the Powell equipment capabilities and evaluating the management talents of Mr. Chambers and his Board, USI was invited to expand its mission to include some of these AMIT projects under its fold.

Accordingly, AMIT came forward and signed a sealed contract proposing that they purchase an initial 8,000,000 USI shares @ $25.00 per share, where as USI would be required to allocate portions of this new capital into at least three of the projects that AMIT had previously wanted to put into motion. Unfortunately, AMIT was unable to provide the funds as agreed and USI has had to severe the relationship for lack of performance and will no longer do business with the AMIT, Atlas Holdings, nor any of its affiliates, officers or assigns in the wake of these activities. Based upon this, USI has taken steps to recover funds that were spent during its due diligence investigations and preliminary engineering.

The management of USI looks forward to a very prosperous 2009 and wishes to thank you for your patience and valued support.

Safe Harbor Statement under the Private Securities Litigation Reform Act Of 1995:

The Private Securities Litigation Reform Act of 1995 (the "Reform Act") provides a "safe harbor" for forward-looking statements to encourage companies to provide prospective information, as long as those statements are identified as forward-looking and are accompanied by cautionary statements identifying important factors that could cause actual results to differ materially from those discussed in the forward-looking statements. Universal Systems, Inc. desires to take advantage of the safe harbor provisions of the Reform Act. All future written and oral forward-looking statements attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements contained or referred to above. New risks and uncertainties arise from time to time, and it is impossible for the Company to predict these events or how they may affect the Company. We assume no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by federal securities laws. In addition, it is our policy generally not to make any specific projections as to future earnings, and we do not endorse any projections regarding future performance that may be made by third parties.

Universal Systems, Inc. is traded on the OTC Exchange under the symbol UVSS. More information is located at our web-site www.universalsystemsinc.net

For further information contact: Universal Systems, Inc. info@universalsystemsinc.net

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