FORT WAYNE, IN--(MARKET WIRE)--Mar 20, 2009 -- The promise of news from South Korea has attracted positive attention to Enzyme Environmental Solutions (Other OTC:EESO.PK - News) as of late for its products and formulas, including the food and garbage applications inherent to the FG-500. One company has taken particular interest in EESO and came to CEO Jared Hochstedler recently with an offer to purchase the company in its entirety.
One week ago today, the prospective buyer deposited approximately 1% of the total purchase price offered into ESCROW as a sign of its good faith to follow through should Hochstedler accept the offer. On the flip side, the buyer requested that EESO release at least 300 Million of its remaining shares on a restricted basis as part of the overall exchange should both parties come to a mutual agreement; So far so good according to Hochstedler, "The buyer -- who we can't name just yet due to confines of our negotiations -- has taken particular interest in our industrial applications and is positioned very well internationally. I think it (the acquisition) could be a win-win for our prospective buyer and EESO shareholders... Further, as far as the shares are concerned, that puts us at about full capacity as we have 2 billion shares authorized... that said, due to recent occurrences with two different transfer agents, I feel it's in the company's, and its shareholders, best interest, to restrict our TA from releasing any share information at this time. Any due diligence can be done by interested parties through the Nevada Secretary of State website or office as this is a delicate negotiation and one I plan to see through to everyone's benefit; not one that during I can subject the company or its share price to with unnecessary volatility."
The buyer, a U.S. domiciled entity with an interest in progressive green technology, feels the timing is right for this deal, as its principal officer states, "I feel that Enzyme Environmental Solutions is on the cusp of an ever-progressing movement in a world where everyone is going green and carbon credits, not oil, are the new hot-topic commodity talk. It's a sign of the times and these formulas and their applications are effective and efficient. With their (EESO) agreements already in place and the interest from South Korea and even U.S. domestic hog farmers, etc., I think the time is right for a mutually attractive transaction in which we can continue to take this company to the next level."
Details to come on the progress of the negotiations. In the meantime, Hochstedler and staff are organizing notes from the recent South Korea trip for further company updates within the next few days.