POWELL, Tenn., Jan. 18, 2005 (PRIMEZONE) -- Green Dolphin Systems Corp. (Pink Sheets:GDLS) was pleased to learn of the announcement made by Agriculture Secretary Ann M. Veneman of United States Department of Agriculture (USDA) on January 9, 2005, which opens the way for manufacturers of bio-based products.
Quoting their recent news release: ". . . 'The Federal Bio-based Products Preferred Procurement Program creates a preference across the entire federal government to purchase bio-based products, when practical, based on price, availability and performance,' Veneman said during remarks at the 2005 American Farm Bureau Federation Annual Meeting . . . The New rule establishes the process by which the Department of Agriculture will designate 'items' for preferred procurement by federal agencies. Items are generic groupings of bio-based products, such as bio-based greases . . . industrial solvents, bio-based fertilizers and cutting oils . . . 'Our goal has been to implement the Farm Bill's nearly 500 provisions as quickly and efficiently as possible,' Veneman said. 'Our staff throughout the country has been up to the challenge, working tirelessly and aggressively to ensure the estimated $180 billion in Farm Bill program benefits over a 10-year period is flowing to producers and other program participants.'"
Green Dolphin Systems manufactures numerous biological products, including environmentally friendly all natural corn-gluten base fertilizer, and natural deet-free mosquito repellent. The Bio-based Products Preferred Procurement Program further paves the way to promote Green Dolphin(tm) products to government agencies, and President & CEO Nick Plessas is excited about the opportunity this presents for the company. "We will work diligently and aggressively to garner our market share. The announcement is an encouraging message for companies such as ours that have been promoting the benefits of using bio-based products in the work and home environment. The reported funding of $180 billion shows incredible commitment and support on the part of the federal government to the industry and for the people of United States. Green Dolphin Systems will pursue this opportunity to elevate its status as a manufacturer of bio-based eco-friendly products, and will continue to develop more products to increase its offering.
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This announcement contains forward-looking statements that involve risks and uncertainties, including those relating to the Company's ability to develop and expand its business. Actual results may differ materially from the results anticipated and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among other things, the Company's limited operating history, its limited financial resources, intense competition within the technology industry, incapacity to market and develop its technological capacities, difficulties and risks associated with operating in foreign jurisdictions, domestic and global economic conditions and conditions of the equity markets. More information about the potential factors that could affect the Company's business and financial results is and will be included in the Company's filings with the Securities and Exchange Commission.