SOURCE: Waste Recovery, Inc.

September 18, 2007 09:28 ET

Waste Recovery, Inc. Investor Update: Share Structure and Merger Deal Structure Concerns Addressed

SANTA ANA, CA--(Marketwire - September 18, 2007) - Waste Recovery, Inc. (PINKSHEETS: WRII) Letter to Shareholders:

Dear Shareholders,

Today our phone lines were overwhelmed with concerns about the share structure of the company and the terms of the merger deal. For this confusion I do apologize and hope that with the merger of DR Entertainment Group, a real company with real assets and revenues stands as the testament of my concern for shareholder value.

First and foremost, let me reiterate that we are a "publicly traded company" and neither we nor our transfer agent may release insider information to one shareholder individually without a press release which releases the same information to ALL SHAREHOLDERS at the same time. Those shareholders who obtain information not yet released to the public could be seen as being in a position of holding "Insider Information" and thus MUST then be restricted from trading for 90 days. It is never our intent to withhold information; we just want to release it all at the same time to be fair and protective of all shareholders.

Now let me please address the concerns directly:

WRII Share Structure and Merger Terms relating to these Shares…

--  2.2 Billion Shares Issued and Outstanding
--  2 Billion of these shares are 144 Restricted Control Block (2 year
    restricted) held by an attorney in escrow and cannot be levied or used in
    any sort of collateralization of loans for the purpose of financing etc. as
    per the terms of the merger agreement.
--  218 Million shares free trading
--  Approximately 1/3 of these free trading shares are deposited in street
    name as public float.
    

As my last correspondence as CEO and Director of WRII, I would like to say thank you to all shareholders for the opportunity to serve you all. It is my parting hope, for all of us, to move forward with DR Entertainment Group into a mutually prosperous future.

Sincerely,

/s/ Jesse Rodriguez,
Interim CEO & Director

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:
    Jesse Rodriguez
    949-861-9620