Contact Information: Contact: Eco-Safe Systems USA, Inc. Michael Elliot President Email Contact
Eco-Safe Systems USA, Inc. Releases Company Announcements
| Source: Eco-Safe Systems USA, Inc.
LOS ANGELES, CA -- (MARKET WIRE) -- January 8, 2007 -- Eco-Safe Systems USA, Inc. (PINKSHEETS : ESFS ) makes the following announcements relative to:
INCREASE IN DOMESTIC AND OFF SHORE MANUFACTURING CAPACITY
INCREASED PROFITS AND NET WORTH CREATED THROUGH THE ACQUISITION OF
CALIFORNIA CORPORATION, ECO SAFE USA, INC.
AUDITED CERTIFIED FINANCIAL STATEMENTS TO BE PREPARED
Michael Elliot, President of Eco-Safe Systems USA, Inc., (the "Company")
announced that the Company had executed a lease, effective February 1,
2007, doubling the size of its manufacturing facilities in Southern
California. He noted that, "This step, together with current negotiations
with off-shore manufacturers, represents a major effort to insure prompt
delivery of new products to our expanding markets." He added that,
"Further announcements regarding the execution of off-shore, low-cost
supply agreements can be anticipated in the near future."
It was also announced that the Board of Directors of Eco-Safe Systems USA,
Inc., at a meeting held on December 26, 2006, voted to acquire 100% of the
California corporation, Eco Safe USA, Inc. The California corporation,
wholly owned by Michael Elliot, the President Eco-Safe Systems USA, Inc.
was acquired on a share exchange, no-cash basis. Mr. Elliot, a Board
member, abstained from voting on the acquisition.
As a result of the acquisition, it is anticipated that the Company will
show an increase in sales for 9 months of $416,519 and an increase in net
income of $151,449. The transaction is subject to compliance with all
State and Federal Securities laws, as interpreted by the securities counsel
retained by the Company.
Eco-Safe Systems USA, Inc. also announced that the Company has entered into
a contract with the well known California CPA firm, Mendoza Berger Company,
L.L.P., for the preparation in the first quarter of 2007, of audited
certified financial statements of Eco-Safe Systems USA, Inc. Mr. Elliot
commented that, "The objective of this step is to provide our investors,
suppliers and bankers with accurate, reliable and up-to-date financial
information upon which to base their decisions relative to Eco-Safe Systems
USA, Inc. It is intended that the first audited certified financial
statement will reflect the acquisition of the California corporation, Eco
Safe USA, Inc."
The foregoing contains forward-looking information within the meaning of
The Private Securities Litigation Act of 1995. Such forward-looking
statements involve certain risks and uncertainties. The actual results may
differ materially from such forward-looking statements. The company does
not undertake to publicly update or revise its forward-looking statements
even if experience or future changes make it clear that any projected
results (expressed or implied) will not be realized.