SOURCE: Budget Waste Inc.

January 10, 2008 09:00 ET

BUDGET WASTE INC. Files Current Financials With Pink Sheets; Meets Targeted Goal of Over $10 Million in Revenues

CALGARY, AB--(Marketwire - January 10, 2008) - Budget Waste Inc. (PINKSHEETS: BDGW) is pleased to announce that current financial information, including the annual financial report for the fiscal year ending March 2007, and quarterly reports for the first and second quarters of 2007, have been filed with Pink Sheets LLC. Shortly, the Company will be eligible to move into the current information tier on Pink Sheets.

Over the past several months, Pink Sheets has developed a new tier system which provides investors with information that helps them identify reputable emerging companies. Budget Waste Inc. is committed to providing all documentation required to differentiate itself, while instilling confidence in our present and potential investors.

Budget Waste Inc. has posted dramatic increases in several categories for the 2007 fiscal year. Most notable are revenues of $10,441,008 for the fiscal year ended March 31, 2007, up from $1,571,368 in the previous fiscal year ended March 31, 2006, and assets of $17,663,017, up from $7,134,698 in the previous year.

In previous announcements, management had projected, based on current information, an increase in revenues from 2006 year end to 2007 year end of about 800% over the previous year. This estimate was based on an assumed ending figure of approximately $1.2 million in revenue for the FYE 2006; however, at the end of that fiscal year, the company had completed a number of acquisitions a few months sooner than anticipated; thus, the annual revenue of these acquired companies was included in the year end results of Budget Waste for FYE 2006, resulting in a year end consolidated revenue of approximately $1.5 million. Thus, while the Company did achieve its targeted goal of increasing revenue by acquisitions to over $10 million in FYE 2007, the percentage increase using year end to year end numbers was not accurate because of the earlier than anticipated acquisitions.

Quarterly revenues have also shown a remarkable increase with the first six months of 2007, with combined revenues of $7,968,597, up from $5,016,054 from the same period in the previous year.

Having current information available to the public allows BWI to move forward with the following strategies in 2008: undertaking a $5,000,000 private placement; obtaining market analyst reports; targeting new acquisition targets; and continuing with the application process to move up to the OTCBB as a "reporting company."

Budget Waste Inc. is a waste solutions company in Western Canada providing complete waste and recycling services to commercial, industrial, construction, homebuilding, oilfield and residential clients. For more information on Budget Waste Inc., please visit our web site at www.budgetwaste.com or contact our investor relations department at:

Budget Waste Inc.
Investor Relations
Mike Kolankowski

3915 - 61st Ave. SE.
Calgary, AB T2C 1V5
Ph.403-255-2900
Toll Free 1-888-255-2990
Fax:  403-255-3237
Email: ir@budgetwaste.com

Safe Harbor Act Notice: This release may contain forward-looking statements that involve risks and uncertainties, including without limitation, acceptance of the company's products, increased levels of competition, product and technological changes, the company's dependence upon financing and third-party suppliers, and other risks detailed from time to time in the company's federal filings, annual report, offering memorandum, or prospectus. Specifications are subject to change without notice.

Contact Information

  • Budget Waste Inc.
    Investor Relations
    Mike Kolankowski

    3915 - 61st Ave. SE.
    Calgary, AB T2C 1V5
    Ph.403-255-2900
    Toll Free 1-888-255-2990
    Fax: 403-255-3237
    Email: ir@budgetwaste.com