UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15 (d) of the
Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported):
January
26, 2016
INTEGRATED
ENVIRONMENTAL TECHNOLOGIES, LTD.
(Exact
name of registrant as specified in charter)
| Nevada |
|
000-26309 |
|
98-0200471 |
(State
or other jurisdiction
of incorporation) |
|
(Commission
File Number) |
|
(IRS
Employer
Identification No.) |
| 4235
Commerce Street, Little River, South Carolina |
|
29566 |
| (Address
of principal executive offices) |
|
(Zip
Code) |
Registrant’s
telephone number, including area code: (843) 390-2500
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (see General Instruction A.2. below):
[ ] Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Section
8 – Other Events
On
January 26, 2016, Integrated Environmental Technologies, Ltd. issued a press release announcing oil and gas results for the year
ended 2015.
A
copy of the press release is attached hereto as Exhibit 99.1.
Section
9 – Financial Statements and Exhibits
| Item
9.01. |
Financial
Statements and Exhibits. |
| |
Exhibit
No. |
|
Description |
| |
|
|
|
| |
99.1 |
|
Press
Release Re: Integrated Environmental Technologies, Ltd. Announces 571% Growth in Oil Wells Treated with Excelyte®
in 2015 |
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
| |
INTEGRATED
ENVIRONMENTAL |
| |
TECHNOLOGIES,
LTD. |
| |
|
|
| January
27, 2016 |
By: |
/s/
David R. LaVance |
| |
|
David
R. LaVance |
| |
|
President
and Chief Executive Officer |
EXHIBIT
INDEX
| Exhibit
No. |
|
Description |
| |
|
|
| 99.1 |
|
Press
Release Re: Integrated Environmental Technologies, Ltd. Announces 571% Growth in Oil Wells Treated with Excelyte®
in 2015 |
EXHIBIT
99.1
INTEGRATED
ENVIRONMENTAL TECHNOLOGIES, LTD. ANNOUNCES 571% GROWTH IN OIL WELLS TREATED WITH EXCELYTE® IN 2015
LITTLE
RIVER, S.C., January 26, 2016 – Integrated Environmental Technologies, Ltd. (OTCQB: IEVM) today announced that as of December
31, 2015, the Company had provided Excelyte® well maintenance treatments on 235 wells, an increase of 200 wells,
or 571%, since December 31, 2014. The Company performed 1,447 Excelyte® well maintenance treatments during the
year ended December 31, 2015, generating $458,000 in revenue, an increase of $399,000, or 677%, from the amount of revenue generated
during the year ended December 31, 2014. The Company currently is providing Excelyte® well maintenance treatments
from three depots located in the Uinta Basin in Utah, the New Mexico region of the Permian Basin and the West Texas region of
the Permian Basin. In response to demand from new and existing customers, the Company has hired the personnel necessary to operate
its fourth facility located in the Western Gulf Basin in South Texas and expects Excelyte® well maintenance
treatments to commence at that production facility by the middle of February 2016.
David
R. LaVance, the Company’s President and Chief Executive Officer, commented “Last year was a turbulent time for the
producers in the oil and gas industry. Current oil pricing has pressured producers to become more cost efficient as margins have
contracted. We found that this has created an opportunity for IET, as our customers have told us that by treating their oil wells
with Excelyte® they are experiencing a significant cost savings and better results as compared to traditional
biocides and hydrogen sulfide scavengers.”
Mr.
LaVance continued, “IET’s growth over the past year was not just in revenue, but also in the infrastructure and human
capital necessary to take the Company to the next level. We have seen results from the oil and gas sales team that we began to
assemble in late 2015, and I believe that regardless of the price of oil, IET will continue to see strong revenue growth over
the next 12 months. Based on the number of deliveries in the last year and the increasing interest of existing and prospective
customers, I am extremely excited about 2016.”
Hydrogen
sulfide is a toxic and corrosive chemical that frequently appears in oil and gas production. Excelyte® acts
as a biocide and as a hydrogen sulfide eliminator/scavenger that kills sulfate-reducing bacteria, which are known to produce hydrogen
sulfide. The Company’s current down-hole well maintenance treatments consist of regularly scheduled Excelyte®
treatments on oil production wells that contain bacteria which can corrode well equipment and well linings; contain bacteria
that can sour the oil produced; and/or test positive for hydrogen sulfide. Excelyte® well maintenance treatments
are attractive to E&P operators because Excelyte® is both an effective biocide and a hydrogen sulfide scavenger
that has been shown to reduce well maintenance costs and improve safety.
About
Integrated Environmental Technologies, Ltd.
Integrated
Environmental Technologies, Ltd. is a publicly-traded company that operates through its wholly-owned operating subsidiary, I.E.T.,
Inc. All of the Company’s products and services are marketed and sold under the umbrella brand name, EcoTreatments™.
The Company markets and sells its anolyte disinfecting solution under the Excelyte® brand name, which is produced
by the Company’s proprietary EcaFlo® equipment that utilizes an electrolytic process known as electrochemical
activation to reliably produce environmentally responsible solutions for cleaning, sanitizing and disinfecting. Excelyte®
solutions are EPA-registered, hard-surface disinfectants and sanitizers approved for hospital-level use and are also approved
for use as a biocide in oil and gas drilling. The products can be used anywhere there is a need to control bacteria and viruses.
The Company’s EcaFlo® equipment also produces a cleaning solution that the Company markets under the Catholyte
Zero™ brand name. Catholyte Zero™ solutions are environmentally friendly cleansers and degreasers
for oil and gas, janitorial, sanitation and food processing uses. To learn more, visit www.ecotreatments.com.
Forward-Looking
Statements
Statements
about the company’s future expectations and all other statements in this press release other than historical facts are forward-looking
statements. Such statements are subject to certain risks, trends and uncertainties that could cause actual results to differ materially
from expected results. Among these risks, trends and uncertainties are economic conditions both generally and within the industries
in which the Company may participate; competition within the Company’s chosen industries, including competition from much
larger competitors; technological advances; available capital; regulatory approval; and failure by the Company to successfully
develop or acquire products and form new business relationships. Since these statements involve risks and uncertainties and are
subject to change at any time, the Company’s actual results could differ materially from expected results.
Contacts:
Integrated
Environmental Technologies, Ltd.
Thomas
S. Gifford
732-820-1415
tgifford@ietltd.net