Goldendale, WA, Nov. 29, 2017 (GLOBE NEWSWIRE) -- Uptick Newswire welcomes back John Sprovieri, CEO of Auscrete Corp (OTCPink: ASCK, the “Company”) onto “Stock Day” for an update on the Company. Starting off the interview, Mr. Sprovieri discusses the significance of their “green” building products manufactured by themselves and used in the construction of their affordable housing and commercial structures. He explained that the company has already acquired some of the machinery needed for their new production facility with the balance, such as the imported specialized mixing and handling machinery due to be here around late January. This will enable manufacturing operations to commence at the new factory to be built on the Industrial estate in Washington within a couple of months from now. The Company expects first year revenues to be around $15 million.
“Auscrete Corp. will grow significantly during 2018.” stated Mr. Sprovieri as he elaborates on the market opportunities that have emerged recently. It was noted that the market for Affordable Housing is one of the largest consumer markets in the world. However, recent natural disasters also add to the constantly developing need for housing, particularly with Auscrete’s houses that will not burn and are extremely solid in hurricanes and tornados.
Furthermore, he discusses the up and down movement of the Company stock recently, the value and structures of the shares and the long-term value of the investment. “Because we are letting people know what is going on with press releases coming out, and we actually have things happening, there has been considerable interest by investment groups in our stock.” said Mr. Sprovieri.
There were high volumes of the company’s shares through the market recently and the stock price had increased up to 600% at one point. The market has leveled somewhat since then but Mr. Sprovieri believes that the Company’s stock price is extremely undervalued presently and it is a great time for investors to buy, perhaps 6-12 months so that the operations and revenues will be reflected in the market cap.
Said Mr. Sprovieri, “The Company has virtually no debt and has notes that were taken out last year in 2016 for operations that are well into conversion stage with only about $160K to finish. This should not take long as we had dollar volume on the market one day last week of over $300K.” he added.
In an off air interview, Company Business Development and IR Director, Lee Odom added that there are around 280 million shares out but the float was only 68 million, which is very conservative for an OTC Pink company. “Once our production begins in the next 2 or 3 months, the market will begin to reflect a more intrinsic value of an OTC Company with assets which are producing revenues, especially with ASCK having little monthly monetary debts, this all should coincide with all the note conversions finished and behind us.”
“Though our production remains a couple of months away”, he added, “ASCK still looks to have significant news announcements between now and the end of the year”.
“There had also been talk of ASCK utilizing a $2 Million line of credit with Kodiak, while it is true, ASCK was approved last December for this line of credit with Kodiak, however, ASCK did not use it and decided against this and to go a different way, one which we feel will create less selling pressure on the stock, thus enhancing shareholder values the safest & quickest ways available”. Mr. Odom added “While doing so, ASCK chose to push back some projected deadlines, however ASCK feels by doing so it is in the best interest of all involved. Simply put yes, it took us longer to get here, but by doing so, the rewards will be greater and sooner” he said.
“As we have been told over and over again by people in the investment world, the year 2018 looks to be very exciting and rewarding to all those involved with ASCK”.
To listen to the full interview please click here or the following link: https://upticknewswire.com/featured-interview-ceo-john-sprovieri-of-auscrete-corporation-otcpink-asck-3/
About Auscrete Corporation
Auscrete Corporation (OTCMKTS:ASCK) is a building materials manufacturing company and constructor of "GREEN" energy efficient housing and commercial structures built from Auscrete developed lightweight hybrid concrete/insulation wall and roof panels. Structures built of this medium have very low maintenance needs and, being concrete, are highly resistant to insects and mold. They have considerable mass and are highly resistant to hurricane forces and earth tremors. They will not catch fire and burn. Auscrete is currently establishing their Flagship Facility in Goldendale, WA.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the sales of the company's identity protection software products into various channels and market sectors, the issuance of the company's pending patent application, and the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.
Source: Uptick Newswire