LEXINGTON, Ky., May 18, 2005 (PRIMEZONE) -- Plasticon International Inc. (Pink Sheets:PLNI) today announced that it has come one step closer in the company's transition strategy to move from the Pink Sheets to the OTCBB. An audit of all company financials will be completed in four weeks.
"This audit is an important milestone in terms of demonstrating to our shareholders and the public that we are serious in our goal of moving the company forward," said Jim Turek, President and CEO of Plasticon International, Inc. "We are pleased to announce that we are four weeks from a completed audit. Upon completion, we will immediately be filing the necessary documents with the SEC to become fully reporting."
Plasticon International, Inc., which is the sole owner of a patented line of recycled plastic rebar supports, among other products, has recently expedited its efforts to get back on the OTCBB. We just feel that the time is right," Mr. Turek said. "We are operating right now from a position of strength. We have a clear technological edge over our competition. Plasticon has little to no debt. Our patents were recently valued at $16 million, and were validated by the federal courts of the United States. We just launched a new marketing campaign which is successfully communicating our story to our customers and investors. We also signed an exclusive distribution contract with the largest building materials distributor in the United States, which gives us a fantastic opportunity to rapidly expand our customer base."
Mr. Turek recently conducted a CEO webcast to communicate directly with shareholders about all of the exciting new developments at Plasticon. The webcast can also be viewed by the general public online at www.thegreenbaron.com. "I would also encourage people to visit our web site at www.plasticonintl.com, which is constantly updated. We are going to have some exciting announcements in the coming weeks as we continue to gain momentum."
About Plasticon International, Inc.
Plasticon International (www.plasticonintl.com) designs, produces, and distributes high-quality concrete accessories, transportation signage, plastic lumber, and office supplies which are all produced from recycled and recyclable plastics. Plasticon is a leader, an innovator of cutting edge design, engineering, and production of industrial and commercial products. Plasticon is a green Company, environmentally-friendly, using recycled plastics to produce its line of products.
Disclaimer: The Company relies upon the Safe Harbor Laws of 1933, 1934, and 1995 for all public news releases. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, management and maintaining growth, the effect of adverse publicity; litigation, compensation, and other factors which may be identified from time to time in the Company's public announcements.