Eastern Environment Solutions Completes Restatement of Financial Statements
April 04 2011 - 4:49PM
Business Wire
Eastern Environment Solutions, Corp. (OTCQB: EESC), a
leading provider of municipal solid waste (MSW) processing and
disposal services in northeast China, today announced that it has
completed the restatement of its financial statements for the years
ended December 31, 2008 and 2009 and the first three quarters of
2010. The restatements were made necessary when the Company decided
to change its policies regarding recognition of revenue and
expenses associated with the waste disposal operations at the
landfill it operates in Harbin, China.
About Eastern Environment Solutions Corp.
Eastern Environment Solutions Corp. is the first regional
environmental engineering company to operate under a
Build-Operate-Transfer ("BOT") contract in China. The Harbin
Municipal Urban Administrative Bureau, authorized by the Harbin
Municipal Government, signed a franchise contract for 17 years with
the Company. The landfill can be used to dispose of 1,500 tons of
MSW per day, or approximately 42% of the total municipal solid
waste produced by the population of Harbin. Additional information
about the Company is available at www.useesc.com.
This press release may contain forward-looking statements. Such
statements include those concerning the Company's expected
financial performance and strategic and operational plans, as well
as all assumptions, expectations, predictions, intentions or
beliefs about future events. Readers are cautioned that any such
forward-looking statements are not guarantees of future performance
and that a number of risks and uncertainties could cause actual
results of the Company to differ materially from those anticipated,
expressed or implied in the forward-looking statements. Risks and
uncertainties that could cause actual results to differ materially
from those anticipated include the risks identified in the "Risk
Factors" sections of the Company's Annual Report on Form 10-K for
the year ended December 31, 2010, which is available on the SEC’s
EDGAR Website. The Company assumes no obligation to, and does not
intend to, update any forward-looking statements.
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