SOURCE: Tailor AquaPonics Worldwide

May 15, 2007 11:43 ET

Tailor AquaPonics Provides Update on Recent Negotiations

LAS VEGAS, NV -- (MARKET WIRE) -- May 15, 2007 --Tailor AquaPonics Worldwide, Inc. (PINKSHEETS: TQWI) announced today that due to unforeseen circumstances, the escrow agreement to purchase 40 acres of land with attendant water rights in Amargosa, NV, northwest of Las Vegas, has been vitiated. Negotiations are still ongoing with the prospective seller and Tailor AquaPonics is confident that an agreement will be finalized shortly, but it is the position of the Company to be as forthcoming as possible and to avoid even the appearance of impropriety by providing accurate information and ongoing updates to the public.

According to Ron Almadova, President of Tailor AquaPonics Worldwide, "Although we are disappointed, we are confident that this is a temporary setback, and not atypical. After all, the purpose of escrow is to accommodate unanticipated developments, and we have not eliminated the possibility of completing this purchase very soon. In addition, this should not materially affect any phase of our operations or our other ongoing plans for expansion and growth of the business. Our overall growth strategy is progressing, and we fully expect to announce further positive developments in the near future."

About Tailor AquaPonics Worldwide:

Tailor AquaPonics Worldwide, Inc. owns a controlling interest in the international growth and development rights to Tailor Made Fish Farms, a company that has developed a technology-driven, easy to operate, land-based modular fish production system. This cutting-edge system is both sustainable and environmentally responsible in keeping with the spirit of maintaining an environmentally safe and friendly solution while producing high volumes of superior and healthier farmed fish. This allows an overwhelming production of 'year-round' premium quality fish and vegetables, achieved through compact and controlled production areas using much less water than conventional methods. Our technique conserves water, is environmentally responsible, provides fresh health products and provides two crops from a single water uptake.

Safe Harbor Statement:

Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors such as the level of business and consumer spending, the amount of sales of the Company's products, the competitive environment within the industry, the ability of the Company to continue to expand its operations, the level of costs incurred in connection with the Company's expansion efforts, economic conditions in the industry and the financial strength of the Company's customers and suppliers. The Company does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.

Contact Information

  • Contact:
    Investor Relations