PRWeb The Leader Press Release Distribution
See How PRWeb Works

We're here to help 1-866-640-6397

Login Create Free Account


All Press Releases for December 12, 2001 Subscribe to this News Feed    
 

WALS Declares 12/14 Record Date for BioTec Shares

Wallstreet-Review shareholders of record 12/14/01 will receive 13.96:1 dividend distribution of shares in BioTec Systems, Ltd.

BioTec Shareholders Unanimously Approve Deal
WALS Declares Record Date

LIGHTHOUSE POINT, Fla.--(BUSINESS WIRE)--Dec. 3, 2001-- Wallstreet-Review, Inc. (OTCBB:WALS - news), a Florida corporation, today announced December 14, 2001 to be the record date for WALS shareholders to receive shares in BioTec Energy Resources, Inc. (BioTec), which recently completed a reverse merger through WALS. WALS shareholders of record as of 12/14/01 will receive 1 share of BioTec for every 13.96 shares of WALS they own.

The total value of this deal is worth an estimated $6 million in cash and stock to WALS.

This announcement comes on the heels of last week's shareholder approval of BioTec's reverse merger into a former wholly owned subsidiary of WALS. Shareholders also approved the selection of Continental Transfer to serve as the company's transfer agent, and agreed to change the company name from BioTec Systems, Ltd. to BioTec Energy Resources, Inc. and the corporation's domicile from Florida to Delaware.

BioTec is currently preparing all necessary paperwork for its attorney and auditors to file a SB-2 prior to year's end. BioTec plans on registering 3 million shares to offer out at $5 a share.

The money raised will enable BioTec to extend its first system installation in New York City to other jurisdictions and private operations in the United States, as well as Europe, South America and Asia.

BioTec Systems Ltd. has developed a patented bioreactor technology to compost municipal waste. The company's patented solution to overcrowded landfills has the support of the United Nations, the Organization of American States (OAS) and Eximbank, which has formally expressed interest in funding projects within its 35 member states in South America and the Caribbean. BioTec's composting bioreactor system is fast, odorless, free of leachates and one-third the cost of existing less efficient systems. To date more than 90 national, state, and county governments and municipalities have expressed interest in acquiring BioTec's product. Installation of processing plants in just a fraction of these locations will be worth tens of millions of dollars in annual recurring revenue to the company.

WALS is a financial services company that assists emerging companies in moving from the private sector to the public markets.

Statements in this news release that are not descriptions of historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as ``expect,'' ``intends,'' ``believes,'' ``plans,'' ``anticipates'' and ``likely'' also identify forward-looking statements. All forward-looking statements are based on current facts and analysis. Actual results may differ materially from those currently anticipated due to a number of factors including, but not limited to history of operating losses, anticipated future losses, competition, future capital needs, the need for market acceptance, dependence upon third parties, disruption of vital infrastructure and intellectual property rights. All forward-looking statements are made pursuant to the Securities Litigation Reform Act of 1995. Additional information on factors that may affect the business and financial results of the Company can be found in filings of the Company with the Securities and Exchange Commission.

For further information contact: Jeff Daly at: 954-786-2020; Facsimile: 954-786-2080; or e-mail: jeff@wallstreet-review.net Additional information is available at the Company's website: http://www.wallstreet-review.net.


--------------------------------------------------------------------------------
Contact:

     Wallstreet-Review, Inc., Lighthouse Point
     Jeff Daly, 954/786-2020
     Fax: 954-786-2080
     E-mail: jeff@wallstreet-review.net
     http://www.walstreet-review.net

OPTIONS
Printer Friendly Version
Email this story to a colleague
CONTACT INFORMATION
Jeff Daly
Wallstreet-Review, Inc.
954-786-2020
Email us Here
ATTACHED FILES

There are no multimedia files attached to this release. If this is your release, you may add images or other multimedia files through your PRWeb News Management Console.

ABOUT PRESS RELEASES
If you have any questions regarding information in these press releases please contact the company listed in the press release. Please do not contact PRWeb. We will be unable to assist you with your inquiry. PRWeb disclaims any content contained in these release. Our complete disclaimer appears here.