SEC Grants Tirex Request for Waiver
November 23 2010 - 9:15AM
Business Wire
The Securities & Exchange Commission recently approved a
request by The Tirex Corporation (TXMC.PK), owner of a patented
tire recycling technology, the TCS System, to waive a re-audit on
some of its previous financial filings, it was announced today.
Tirex is in the process of filing audits by M&K CPAS PLLC of
Houston, Texas, for the fiscal years ended June 30, 2008 (restated)
and 2009.
“While the Company plans to report minor adjustments to the
years 2001 to 2008,” according to Tirex President, John L. Threshie
Jr., “it not only would have been costly and time-consuming to have
it re-audited, it wouldn’t have revealed any significant changes to
influence investors. We are working closely with the SEC and
M&K to be sure we are in compliance and can once again get
current in our filings,” Mr. Threshie added.
IMPORTANT RECENT CORPORATE DEVELOPMENT
The formerly announced North American scrap tire recycling
expert working with Tirex has completed a TCS technology market
study and identified its first market location.
“We are currently negotiating relationships in that market to
integrate our technology and better business opportunities with
established companies,” said Mr. Threshie.
ABOUT TIREX
Tirex’s TCS process freezes scrap tire pieces with cold air – as
opposed to expensive liquid nitrogen – and then “breaks” the rubber
into granules in a patented “fracturing mill,” instead of cutting
and shredding it. This process also separates the marketable
strands of steel and fiber from the frozen ground rubber with an
environmentally-friendly, economically-attractive, “green” tire
recycling system. For more information go to www.tirex-tcs.com
SAFE HARBOR STATEMENT
(The statements which are not historical facts contained in this
news release are forward-looking statements that involve certain
risks and uncertainties including, but not limited to, risks
associated with the uncertainty of future financial results,
additional financing requirements, development of new products,
government approval processes, the impact of competitive products
or pricing, technological changes, the effect of economic
conditions and other uncertainties detailed in the Company's
filings with the SEC.)
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