Shellprf (LSE:SHLP)
Historical Stock Chart
From Feb 2020 to Feb 2025
![Click Here for more Shellprf Charts. Click Here for more Shellprf Charts.](/p.php?pid=staticchart&s=L%5ESHLP&p=8&t=15)
SearchHelp Announces Acquisition of Interest in Mold Compound
BETHPAGE, N.Y., Feb. 11 /PRNewswire-FirstCall/ -- SearchHelp, Inc. (BULLETIN
BOARD: SHLP, SHLPW, SHLPZ) , a company involved in the development of family
safety products, announced todaythat it has acquired from Environmental
Commercial Technology Corp. a royalty interest in a compound intended to
remediate and prevent the growth of mold and fungus in both residential and
commercial environments. This product, called HTPA, is a proprietary and highly
effective formulation that has been developed for worldwide application.
SearchHelp's interest is limited to the United States and to applications to
treat mold and fungus.
In consideration for this royalty interest, SearchHelp has paid cash, agreed to
make certain deferred payments and has issued restricted warrants and shares of
common stock. SearchHelp has also agreed to cause the registration of the share
consideration in 2004.
This acquisition is the first activity of SearchHelp's indoor air quality
initiative.
Prior to its acquisition, SearchHelp evaluated the results of an efficacy study
of the product conducted by a Director of Clinical Microbiology and Diagnostic
Immunology at a major U.S. University hospital research center. In addition,
SearchHelp had another leading microbiologist and noted expert in the field of
Indoor Air Quality evaluate this same study, as well as requested a test more
specific to certain building material.
The studies concluded that the HTPAcompound showed success in not only killing
harmful mold and fungi, but also in preventing their growth.
"These independent evaluations support our belief that the compound shows great
promise for not only existing mold problems, but also in helping to prevent
future mold growth," said Bill Bozsnyak, CEO of SearchHelp, Inc. "The
preventative and environmentally safe nature of HTPA makes the building
manufacturers and the real estate industry potentially a strong customer base
for this product. Moldand fungi, including other indoor air pollutants, have
become enormous problems and according to the EPA(1), sick buildings cause an
estimated loss totaling in the tens of billions of dollars each year in employee
absenteeism, medical costs, reduced productivity and lower earnings," continued
Bozsnyak.
(1) "Targeting Indoor Air Pollution: EPA's Approach and Progress" EPA Document #
400-R-92-012, March 1993
About SearchHelp, Inc:
SearchHelp, Inc. is an organization focused on utilizing new and emerging
technology to promote products and services oriented toward improving family and
home safety, through its Family Safe and Indoor Air Quality Services
subsidiaries.
About Environmental Commercial Technology Corp:
ECT is a company focused on solving environmental issues and concerns through
the development and introduction of products and applications for industry,
business and consumers.
For More Information, contact SearchHelp Investor Relations: 516 922 4765
Statements in this press release or in other SearchHelp communications may
relate to future events or SearchHelp's future performance. Such statements are
forward-looking statements and are based on present information SearchHelp has
related to its existing business circumstances. Investors are cautioned that
such forward-looking statements are subject to inherent risks and that actual
results may differ materially from such forward-looking statements. In
particular, the compound may not achieve commercial acceptance, our business
partners may not perform as expected, the compound may not be adopted rapidly by
the construction industry and SearchHelp's expectations about the market
readiness may not be justified. Further, investors are cautioned that
SearchHelp does not assume any obligation to update forward-looking statements
based on unanticipated events or changed expectations.
DATASOURCE: SearchHelp
CONTACT: SearchHelp Investor Relations, +1-516-922-4765
Web site: http://www.searchhelp.com/