EDMOND, Okla., Feb. 7, 2011 (GLOBE NEWSWIRE) -- Today EnviroXtract (Pink Sheets:EVXA) announced details of its new 2011 "Cross-Tech" Business Strategy. According to the Company's CEO, Carlton Wingett, Cross-Tech is a new technology-driven business strategy that will open new markets and revenue opportunities for the Company.
"Cross-Tech refers to performance-based multi-Industry technologies that will drive our business strategy and focus for the coming year," said CEO, Carlton Wingett. "Our mandate under our Cross-Tech Business Strategy is to harness all of the technologies that we have acquired, and those we have developed internally, and take the Company in a dynamic new direction. Under our new strategy, we will leverage each technology we have so that we may enter new markets and generate revenue for the Company," Wingett said. "EnviroXtract is, first and foremost, a technology development company. Previously, the Company was focused almost exclusively on the development of environmental clean up and remediation technologies. However, during the last year, the Company has continued to develop and acquire technologies that have both multi-purpose and multi-industry applications. Beyond cleaning up oil spills and toxic chemical remediation, we are finding new applications for use in gold mining and precious metals processing, as well as promising new applications for agriculture and soil restoration. The Company hopes to use these technologies to expand its business to transition beyond environmental remediation into a technology driven company that can participate in a variety of new markets."
This new Cross-Tech Business Strategy represents a significant change in the Company's current business model, but CEO Wingett believes it is an easy transition for the Company to make. After meeting with its business consulting group and development teams, Management determined that it was time to leverage its various technologies to meet their full potential.
Wingett shared some of the steps that he and his management team hope to accomplish in order to execute upon their 2011 Cross-Tech Business Strategy as follows:
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Continue to develop and acquire proprietary technologies with multiple commercial applications in the environmental, mining, and agricultural markets
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Identify synergies and cross-market opportunities for the Company's current technologies
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Increase revenues through joint-venture opportunities in the areas of technology development, environmental remediation, gold mining, precious metals processing, and agriculture
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Hire additional executive level professionals specializing in environmental remediation, precious metals mining, oil and gas, and agricultural industries to assist the current management to execute on its 2011 strategy
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Pursue large-scale multipurpose applications for the Company's leading technologies and reduce development and spending on technologies that require excessive capital investments or that have less demand in the current market
- Move the Company up from Pink Sheets to the Over-the-Counter Bulletin Board
The Company's CFO, Dennis Atkins, believes that the new strategy is already having a positive impact on the Company. "We have already generated significant new business opportunities in the gold mining and agricultural markets," said Atkins. "We expect these new opportunities to begin to produce revenue for the Company in the first and second quarters of this year," he said. "Since EnviroXtract is primarily a technology developer, it only makes good business sense for the company to seek out joint-venture opportunities with existing environmental, mining, and agricultural companies that already have operations and proven experience in these industries. In addition to providing innovative technologies expected to increase the bottom line, EnviroXtract also plans to make funding available for bringing revenue-generating projects on-line rapidly."
Atkins also noted, "With many market analysts projecting gold prices to reach $1,600 per ounce by the end of 2011, and possibly $2,000 per ounce by the end of 2012, it is only logical for EnviroXtract to seek out new applications for its technologies in the gold mining arena and related markets. Upon announcement of its intention to expand its technology into the gold mining and agricultural markets, the Company witnessed an increase in its market price and an overall surge in shareholder interest and potential investment opportunities."
Atkins provided some analysis regarding management's decision to transition from an environmental remediation company to a technology driven company with many environmental applications. "Because we were primarily engaged in technology development aimed toward the extraction of petroleum and toxic chemicals from soil and rock, we were regularly identifying applications for these technologies beyond environmental remediation. We already have these technologies available and are continuing to acquire and develop more, so the transition simply will require us to seek out and expand on opportunities to apply these technologies in new markets," said Atkins.
To date, the technologies that the Company has developed are not yet patented, but are utilized to execute upon internal opportunities that the Company generates. In the coming year, however, the Company has mentioned that it would seek out patents after it has explored the full potential for such technologies.
About EnviroXtract, Inc.:
EnviroXtract, Inc. was founded as a technology development company focusing on proprietary environmental remediation applications for oil spills and other toxic chemical remediation applications that require a complete separation of hazardous or toxic chemicals from contaminated soil. The Company has recently expanded its business strategy to enter new markets including: gold, silver, and precious metals mining, precious metals processing, agricultural, and soil enrichment applications. The company will continue to develop and assess new technologies to enhance its business model.
EnviroXtract has retained The Wall Street Voice, LLC to provide the Company full and comprehensive corporate communications and a full advertisement and media campaign.
For questions, please contact The Wall Street Voice, LLC Corporate Communications at Phone # 407-282-9642.
Address: 500 Wave Crest Drive, Orlando, FL 32807.
Email: info@thewallstreetvoice.com
Please ask to speak to a Managing Member about EnviroXtract, Inc.
Safe Harbor
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of EnviroXtract, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.