Universal Systems, Inc. (PINKSHEETS: UVSS) realizes a bleak economy
as the U.S. economy shed a much higher than expected 693,000
nonfarm jobs in December, according to the ADP National Employment
Report released recently. Economists had forecast a loss of 470,000
jobs. This report serves as an important prelude to the Labor
Department's monthly jobless report; though the two are not always
aligned, small and medium-sized firms posted the lion's share of
jobs losses, reportedly laying off 280,000 and 321,000 employees,
respectively, during the period. ADP said this indicates that the
recession has now spread well beyond manufacturing and
housing-related activities.
Universal Systems, Inc. ("USI") is experiencing continued growth
even though there has been a negative downturn in our economy. We
are pleased to announce today that we are concluding our agreement
for the purchase of BioStar Technology ("BST") by way of a share
sale agreement. This will result in USI having a positive cash flow
by way of contracts and having a very large market share of being
able to treat oil wells enabling increased production and the
ability to clean up waste storage tanks and pipelines. This company
is a natural fit with USI and its electrocoagulation equipment and
service business. BioStar specializes in supplying microbial,
enzymatic, chemical products and technology for the petroleum,
refining and pipeline industries to assist with the optimization of
crude oil production, crude properties, and all processes
associated with hydrocarbon exploitation, transportation, refining,
and distribution of its derivatives. BioStar has based its
development in products with the highest degree of environmentally
safety standards and environmentally conscious procedures. It has
operated in Alaska, Louisiana, and California since 1990, including
international operations in Canada, Venezuela, Trinidad and
Ecuador.
Representatives of BioStar have been very successful thus far in
2009 receiving commitments from several new and existing clients to
go forward with projects that were in the planning stages during
the wailing months of 2008. These projects consist of reservoir
stimulation to increase oil production and at the same time to
reduce operational problems within the reservoir utilizing
BioStar's microbial and enzyme technologies, supply of chemical
products for plant maintenance, and water reclamation from
producing oil and gas wells.
These commitments are extremely important to BioStar during this
severe national economic downturn. As in past downturns, oil and
gas producers, both large and small, become aware that utilization
of BioStar's technology and products not only lead to increased oil
and gas production but also to lower operational costs. These costs
include lowering, and sometimes elimination of, chemical usage,
reduced work-overs and lost man-hours for dealing with solutions
that arise from these situations. All of these add up to a better
bottom line for the oil and gas producers. The states and countries
in which BioStar is working in will broaden USI's International
presence. We now have new commitments from oil and gas companies
for the above projects in Alaska, Louisiana, Texas, California,
Trinidad and Venezuela.
"We are excited about the acquisition of BioStar," said Mr.
Kevin Chambers, CEO of USI. "Their products and services are
especially complementary to our corporate mission to provide
economically and ecologically viable water and wastewater treatment
solutions worldwide, but it also allows us to have immediate cash
flow." This past week USI and BioStar held training classes for
personnel being certified to implement various tasks in the oil
field.
USI is issuing 2,500,000 shares of "restricted" common stock in
exchange for 25,000 shares of common stock in BioStar, representing
100% of the total issued and outstanding shares of BioStar. As
such, BioStar would become a wholly owned subsidiary of USI,
conducting its daily business separate from, but under the
supervision of, USI. In addition, both companies will appoint two
(2) members to each other's board of directors.
While our copper cable project is very much in our sites, we are
awaiting the final US Forest Service "Right of Entry" approval then
we will soon be able to start the recovery of approx. 15 miles.
While this cable is the smallest of the three sizes that we have
thus far discovered, it is worthwhile to complete this phase of the
recovery process. This will not only enhance the environment but
eliminate potential harmful creosol and metal contamination. Copper
and lead have devalued by 50% over this past winter due to world
market vulnerability. Management will have to re-evaluate the costs
associated with the recovery plans. In the mean time USI management
is actively looking and interviewing potential Joint Venture
companies to assist us in the recovery of the larger cable.
USI has just completed its final installment of a 504 capital
raise totaling one million dollars ($1,000,000) for this past year
and is now preparing to submit the paper work to the SEC for a
Regulation "A" filing. This means USI will be raising investment
capital throughout the market worth five million dollars
($5,000,000) this year. These funds will be used for several
projects that we have identified dealing with mobile units to clean
produced water and providing development capital to BioStar
Technology.
Universal is very pleased to announce that its first mobile
produced water unit is coming along nicely and will soon be
presented to Canada where the first stops will be for
demonstrations for the Government and other oil service companies.
We are so proud to have this unit available. This will now prove to
the world that Universal can complete the clean-up where other
companies leave off.
An Update regarding Atlas Monetary International Trust ("AMIT"):
USI was sought out as part of an extensive research project,
wherein AMIT was looking to collaborate with some company or other
entity with which AMIT could work with for purposes of advancing a
relatively large number of environmental remediation and
improvement projects. They were intrigued principally with the
filtration capabilities of the Electrocoagulation treatment
system.
AMIT reported having three corporations under its banner -- all
wanting to perform a number of manufacturing operations and wanted
to create equipment to clean up the environment or to reduce the
Country's reliance upon foreign oil. After reviewing the Powell
equipment capabilities and evaluating the management talents of Mr.
Chambers and his Board, USI was invited to expand its mission to
include some of these AMIT projects under its fold.
Accordingly, AMIT came forward and signed a sealed contract
proposing that they purchase an initial 8,000,000 USI shares @
$25.00 per share, where as USI would be required to allocate
portions of this new capital into at least three of the projects
that AMIT had previously wanted to put into motion. Unfortunately,
AMIT was unable to provide the funds as agreed and USI has had to
severe the relationship for lack of performance and will no longer
do business with the AMIT, Atlas Holdings, nor any of its
affiliates, officers or assigns in the wake of these activities.
Based upon this, USI has taken steps to recover funds that were
spent during its due diligence investigations and preliminary
engineering.
The management of USI looks forward to a very prosperous 2009
and wishes to thank you for your patience and valued support.
Safe Harbor Statement under the Private Securities Litigation
Reform Act Of 1995:
The Private Securities Litigation Reform Act of 1995 (the
"Reform Act") provides a "safe harbor" for forward-looking
statements to encourage companies to provide prospective
information, as long as those statements are identified as
forward-looking and are accompanied by cautionary statements
identifying important factors that could cause actual results to
differ materially from those discussed in the forward-looking
statements. Universal Systems, Inc. desires to take advantage of
the safe harbor provisions of the Reform Act. All future written
and oral forward-looking statements attributable to the Company or
any person acting on its behalf are expressly qualified in their
entirety by the cautionary statements contained or referred to
above. New risks and uncertainties arise from time to time, and it
is impossible for the Company to predict these events or how they
may affect the Company. We assume no obligation to update any
forward-looking statements as a result of new information, future
events or developments, except as required by federal securities
laws. In addition, it is our policy generally not to make any
specific projections as to future earnings, and we do not endorse
any projections regarding future performance that may be made by
third parties.
Universal Systems, Inc. is traded on the OTC Exchange under the
symbol UVSS. More information is located at our web-site
www.universalsystemsinc.net
For further information contact: Universal Systems, Inc.
info@universalsystemsinc.net
Universal Systems Inc Wa... (CE) (USOTC:UVSS)
Historical Stock Chart
From Oct 2024 to Nov 2024
Universal Systems Inc Wa... (CE) (USOTC:UVSS)
Historical Stock Chart
From Nov 2023 to Nov 2024