SOURCE: Waste Recovery, Inc.

October 01, 2007 09:20 ET

Waste Recovery, Inc. Announces the Appointment of Its New Management Team

SANTA ANA, CA--(Marketwire - October 1, 2007) - Waste Recovery, Inc. (PINKSHEETS: WRII) today announced the appointment of Robert R Susnar III to the position of CEO and Dwight Chornomud to the positions of President and CEO. Mr. Chornomud and Mr. Susnar most recently served as the directors of DR Entertainment Group of Las Vegas, Nevada. DR Entertainment Group is the parent company of the world famous MINXX Gentlemen's Club.

"We are honored and excited about having the opportunity to take Waste Recovery, Inc. into a new and profitable direction," Susnar said in an interview today. "Both Mr. Chornomud and I are used to running profitable businesses and enhancing shareholder value. Over the coming weeks and months we plan on building this company into a national presence within our industry. When I see the only two publicly traded companies in our market segment, Rick's Cabaret and VCG Corp with stocks trading $12 to $13 range, I say why not WRII? It is our plan and our goal to follow in the footsteps of great companies like these."

Dwight Chornomud (1972)           Bachelors Degree in Finance
Management Team/General Partner   San Diego State University

Mr. Chornomud has always had a fondness for Las Vegas; he began his professional career in the private security industry specializing in assistance for red carpet clientele. As a result, that position required him to travel to Las Vegas regularly. Over the years, he has established relationships with the various popular nightspots, promoters and convention organizations.

In 1997, Mr. Chornomud started his own business in valet parking services, Superior Valet. He began with one account, four employees and $50,000 in annual revenue. Since that time, he has built his valet parking services enterprise to thirty accounts situated in Los Angeles, Orange and San Diego counties, with seventy-five employees and annual revenues of $2,000,000.

In 2000, Mr. Chornomud widened his business scope and formed a partnership to acquire and manage night clubs, bars and adult cabarets. His partnership, DR Entertainment Group, has launched and managed three of the most successful and popular nightclubs in Orange County. In 2002 Mr. Chornomud further expanded his operational experience in to the adult cabaret business through taking over a chain of cabarets in the Los Angeles area. Under his guidance the attendance and profits from the cabarets under his control grew by 200% in the first year and 60% in the second. His winning combination of hard work and management savvy has been a hallmark of all of the projects he has been a part of.

Robert Susnar (1964)              Masters Degree in Business Administration
Management Team/General Partner   Pepperdine University

Mr. Susnar is a highly professional businessman with experience in diverse business areas such as investment banking, biotech, entertainment, e-business and media industries. Mr. Susnar started his professional career in 1987 in the investment-banking field. After six highly successful years in investment banking, Mr. Susnar yearned for new challenges and inspiration and commenced a six-year international manufacturing career at Sani-fit Products Corporation as Executive Vice President of Business Development. During this period Mr. Susnar developed new offices in several countries, among them Russia. While residing in Russia, Mr. Susnar gathered tremendous insight in international business and marketing.

This is not Mr. Susnar's single international experience; during the last three years he has been very much involved in the international e-business and multimedia industry. During this time, he created enormous market awareness and increased the profit margin and market shares significantly. He has realized these achievements in his role as Vice President of Business Development and Corporate Development at companies such as Entertainment Boulevard Inc., Digital Island, and Codec.com, Inc.

In 2000 Mr. Susnar teamed up with Mr. Chornomud to form what would eventually become DR Entertainment Group. Mr. Susnar applied his business development and fiscal management abilities to develop and launch several successful night clubs and adult cabarets.

About Waste Recovery, Inc.

Waste Recovery, Inc. is a development-stage corporation mandated by its shareholders to seek out business opportunities to acquire or merge with to create value for its shareholders.

For more information available to the public, contact the investor relations dept. at 949-861-9620.

About DR Entertainment Group

DR Entertainment Group is the parent company of the world famous MINXX Gentlemen's Club in Las Vegas, NV. This is a 10,500-square-foot adult entertainment club including building and real estate assets estimated at approximately $12,000,000.00 USD.

Forward-Looking Statements

This news release contains forward-looking statements made by WASTE RECOVERY, INC. in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All such statements included in this press release, other than statements of historical fact, are forward-looking statements. Although Management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Actual results may differ materially from those indicated by these statements. The following risk factors, among others, could cause actual results to differ materially from those described in any forward-looking statements. These risks and uncertainties include, but are not limited to, economic conditions, changes in the law or regulations, demand for products and services of the company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Forward-looking statements are typically identified by the words: believe, expect, anticipate, intend, estimate, and similar expressions or which by their nature refer to future events.

Contact Information

  • Company Contact:
    Robert Susnar
    CEO
    702-220-9416