Tirex Files Fiscal 2009 Audited Financials
March 02 2011 - 2:30PM
Business Wire
The Tirex Corporation (TXMC.PK), owner of a patented tire
recycling technology, the TCS System, today announced that it
recently re-filed its June 30, 2009 10-K after the Securities and
Exchange Commission ruled that the auditing for prior fiscal years
were not to be relied upon due to the previous auditor’s
dis-creditization by the SEC.
The filing reflected little change from previous filings and
earlier estimates that were in line with no revenue, a net loss and
net loss per share as Tirex continues to be a development company
and strives to secure contracts for its technology.
“After an extensive review by our new auditor, M&K CPAS,
PLLC, dating back to 2001, we filed a comprehensive 2009 10-K to
recognize some adjustments that were made in order to attain
compliance with the SEC,” according to President John L. Threshie,
Jr. “Now, Tirex will proceed with M&K to follow the same
compliance guidelines to file its June 30, 2010 10-K and ensuing
quarterly reports,” he said.
“Concurrently, during the past nine months, a North American
scrap tire recycling expert has spearheaded the research and
development of marketing Tirex’s technology,” Threshie pointed out.
“As a result, we are planning the integration of our technology and
negotiating business relations with an existing tire recycling
business,” Threshie added.
ABOUT TIREX
Tirex’s TCS (Tirex Cryo System) 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 Securities and Exchange Commission.)
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