Contact Information: CONTACT: J. John Combs III President Strategic Environmental & Energy Resources, Inc. 7801 Brighton Road Commerce City, CO 80022 303-295-6297 email:
Strategic Environmental & Energy Resources, Inc. Closes Acquisition of REGS and Tactical Cleaning Company
NEW YORK, NY--(Marketwire - January 22, 2008) - Strategic Environmental &
Energy Resources, Inc. ("Strategic") (PINKSHEETS : SENR ),
formerly Satellite Organizing Solutions, Inc., a Nevada
corporation and portfolio company of Infinity Capital Group,
Inc., announced today that it closed the acquisition of all
the issued and outstanding interest of REGS, LLC ("REGS"), a
leading provider of technology-based industrial services,
and Tactical Cleaning Company, LLC ("Tactical"), a dedicated
fixed and mobile railcar and tanker truck cleaning company,
both Colorado limited liability companies.
Pursuant to the acquisition, the interest holders of REGS
and Tactical allowed their interests to be acquired for
18,282,630 restricted shares of Strategic common stock
("Acquisition Shares"). The acquisition will be accounted
for under the reverse acquisition accounting rules. As part
of the acquisition, the management team of REGS became the
directors and officers of Strategic, and Greg Laborde,
former president and sole director, resigned.
Prior to the completion of the transaction, a reverse stock
split of Strategic common stock was consummated on a
one-for-four basis whereby each four (4) outstanding shares
of Strategic common stock was converted into one (1) share.
There are currently a total of 19,159,443 common shares
issued and outstanding, including 876,813 shares held by
existing shareholders of Strategic prior to the closing.
J. John Combs III, the newly elected president of Strategic,
said, "We are very pleased to conclude our going-public
transaction and turned away many suitors before we found
Infinity Capital. The Company is now in a position to
aggressively move forward with its business plan of revenue
growth, expansion, and vertical integration through
acquisitions in a market that is experiencing unprecedented
revenue and earnings."
Focusing solely on its Rocky Mountain regional operations,
REGS has nearly tripled its personnel base and revenue over
the last four years. "REGS has achieved its recent growth
using internally generated cash without the benefit of any
significant growth capital," stated Mike Cardillo, REGS'
founder and president. "As a result, we've been forced to
pass up many large and potentially lucrative projects. Our
transition to being owned by a public company, coupled with
a stronger balance sheet, gives us the ability to operate
more efficiently and pursue many available opportunities to
accelerate our growth and improve profitability. We intend
to move forward aggressively in opening additional
industrial service offices in markets many times the size of
our current, more regional markets."
Tactical's rail opportunities are equally exciting in a
market space that is also realizing remarkable revenues and
profits in recent years. The rail company has completed two
new offices from the ground up in the last three years with
two additional scheduled for completion in the next several
months. Combs explained, "Tactical's newly formed
partnerships will enable the rail operation to complete
these cleaning facilities ahead of schedule and open new,
additional full-service facilities in strategic locations
across the United States. We have worked diligently for two
years; securing short line rail leases in high-traffic
regions, contracting with large and small rail partners, and
employing experienced management to be prepared for this
closing." Tactical should have at least four facilities
opened by year-end, each exceeding $1.0 million of
high-margin revenue on an annualized basis.
Combs said Strategic and its subsidiaries expect to develop
several significant, complementary business partnerships,
both domestic and international, in the 2008-2009 time
frame, but did not provide specific information about M&A
activity currently in progress.
About Strategic Environmental & Energy Resources, Inc.
The Company is a newly structured public holding company
with two operating subsidiaries: REGS, LLC and Tactical
Cleaning Company, LLC. The mission of the Company is to
assemble a synergistic conglomerate of the most innovative
and profitable entities and technologies in the fast growing
environmental and energy arenas. The proven operating
histories, proprietary technologies, and experienced
management of its subsidiaries will enable Strategic to
execute this plan, create a more complete and vertically
integrated industrial service offering, and thereby capture
new and lucrative market share.
For more information or to receive future press releases, go
to the Company's web site at http://www.seer-corp.com
About REGS and Tactical Cleaning Company
Formed in 1994, REGS, LLC (d/b/a Resource Environmental
Group Services) is a leading provider of technology-based
industrial services throughout the country with its
headquarters in Commerce City, Colorado. For nearly
fifteen years, REGS has serviced all levels of both the
government and private sectors. In addition to servicing
many small and mid-sized customers throughout the country,
REGS has a well established network of large refinery
customers throughout the West and Midwest. Formed in
2004, its sister company, Tactical Cleaning Company, LLC,
is a dedicated fixed and mobile railcar and tanker truck
cleaning company with current operations in Colorado,
Nebraska, Pennsylvania, and Oklahoma. Together, REGS and
Tactical currently provide industrial and tank cleaning
services, environmental construction services,
transportation of recovered industrial wastes, railcar and
tanker truck cleaning, sludge dewatering services, and
general environmental and waste management services.
About Infinity Capital Group, Inc.
Infinity Capital Group, Inc., is a closed-end investment
company that has elected to be regulated as a business
development company under the Investment Company Act of
1940. The business of Infinity is to seek out special
situation opportunities in emerging growth companies that
are in need of initial or expansion financing. Infinity
provides managerial assistance and invests in publicly
traded vehicles and companies desiring to become publicly
traded through either a public offering, or a reverse merger
with an existing publicly traded entity. In addition,
Infinity intends to invest in micro cap public-traded
companies seeking PIPEs (Private Investment in Public
Entities). Infinity believes that it will have a greater
ability to raise additional capital for "follow on" rounds
for portfolio companies than a traditional private venture
capital fund.
For more information or to receive future press releases, go
to Infinity's web site through the following link:
http://www.infinitybdc.com/contact.php
This press release contains "forward-looking statements"
within the meaning of various provisions of the safe harbor
provisions of the Private Securities Litigation Reform Act
of 1995, commonly identified by such terms as "believes,"
"looking ahead," "anticipates," "estimates" and other terms
with similar meaning. Specifically, statements about the
Company's plans for accelerated growth, improved
profitability, future business partners, M&A activity, new
service offerings and pursuit of new markets are
forward-looking statements. Although the company believes
that the assumptions upon which its forward-looking
statements are based are reasonable, it can give no
assurance that these assumptions will prove to be correct.
Such forward-looking statements should not be construed as
fact. The information contained in such statements is beyond
the ability of the Company to control, and in many cases the
Company cannot predict what factors would cause results to
differ materially from those indicated in such statements.
All forward-looking statements in the press release are
expressly qualified by these cautionary statements and by
reference to the underlying assumptions.