ORLANDO, Fla., May 24, 2010 (GLOBE NEWSWIRE) -- Freedom Environmental Services (Pink Sheets:FRDM) announced today its first quarter revenue for 2010 had increased 346% over last year. Freedom reported approximately $103,000 in the first quarter of 2010 versus approximately $30,000 in previous year's revenue.
Freedom's president Michael Borish stated, "Our revenue jumped in the first quarter due to our expansion of our commercial base and greater penetration of residential markets. We have a strong commitment to 'green' technologies and the environment. A major part of Freedom's expansion is due to creating customer awareness on how we can save them money while protecting the environment. Our Septi-Free product line is a 'green' product that protects septic systems and saves our customers money. As we move forward with biofuel derived from grease, we plan to use our existing customer base to collect not only their grease trap waste but to potentially also collect their fryer grease which can be used for biofuel. We expect substantial constant gains in both market presence and revenue growth."
A spokesperson for Freedom stated Freedom's business model in 2010 is moving rapidly forward. The commercial base is expanding with contracts being signed with national chains like 7-Eleven, Little Caesars Pizza and CiCi's. Also, as previously noted, management anticipates, but cannot guarantee, potential revenue from biofuel of $600,000 over the next year once implementation begins.
About Freedom Environmental Services
Freedom Environmental Services is a "Green" wastewater management company with its headquarters in Orlando, Florida. Freedom provides the most comprehensive, cost-effective and reliable treatment systems and services. Freedom offers conventional wastewater treatment processes and systems, disinfection systems and cleaning contracts. Freedom's products and services are designed to help keep your water safe and clean and your company profitable.
This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. FRDM has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the FRDM's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the FRDM's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. FRDM undertakes no obligation to update or advice in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.