SOURCE: Pacific Sands, Inc.

Pacific Sands, Inc.

April 27, 2009 09:00 ET

Pacific Sands, Inc. Restructures / Retires Significant Short Term Debt

Company Favorably Renegotiates Natural Choices, LLC Purchase Agreement

RACINE, WI--(Marketwire - April 27, 2009) - Pacific Sands, Inc. (OTCBB: PFSD) announced today that the company has made significant strides in improving its balance sheet and retiring and / or renegotiating a substantial portion of the Company's 'current liabilities.'

The Company has renegotiated the payout schedule relating to its purchase of assets from Natural Choices, LLC. The remaining balance of approximately $650,000 has been restructured as a three-year obligation, bearing interest at 4% per annum, and payable in monthly installments of interest only. Cash and stock principal payments initially due in 2009 through 2011 have been deferred until 2012.

Pacific Sands' CEO, Michael Wynhoff and CFO, Michael Michie have agreed to accept payment of approximately $300,000 in outstanding back salary accumulated since 2004 pursuant to notes bearing interest at 4% per annum and payable in monthly installments of interest only, and maturing on March 31, 2012.

Additionally, the Company has negotiated nearly $60,000 in debt relief from vendors.

Management believes that these actions will significantly improve the Company's financial condition, cash flow and liquidity.

About Pacific Sands / Natural Choices:

Pacific Sands, Inc. is an environmental products company that develops, markets, manufactures and sells earth, health and kid-friendly products for cleaning and pool & spa water maintenance applications.

The Company achieves the bulk of its sales and revenues through three primary routes to market:

-- Branded Products: Pacific Sands has three house brands that are sold through retail distribution in the U.S., Canada and Europe: ecoone® pool and spa water management products, e-2 elemental earth® and Natural Choices™ household cleaning products.

-- Contract Manufacturing and Private Label: Pacific Sands has a portfolio of more than 100 of consumer cleaning, laundry and pool and spa water management products available for private label.

-- Direct & Internet Retail: The Company uses direct retail primarily as a tool to test marketing messages, educate consumers and provide ready access to information about company's products.

Since June of 2004, Pacific Sands has achieved 18 consecutive quarters of sustained same-quarter sales growth.

Safe Harbor Act Disclaimer

The statements contained in this release and statements that the company may make orally in connection with this release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected in the forward-looking statements, since these forward-looking statements involve risks and uncertainties that could significantly and adversely impact the company's business. Therefore, actual outcomes and results may differ materially from those made in forward-looking statements.

Contact Information

  • Contact:
    Tad Gage
    Executive Vice President
    Capital Insight Partners
    Email Contact