Auscrete Corporation’s (ASCK) CEO Statement of the Company’s Outlook
GOLDENDALE, Wash., Feb. 11, 2020 (GLOBE NEWSWIRE) — Auscrete Corporation (OTC ASCK) is at the point of transitioning from a non-revenue producing company into a revenue producer with real and hard projections of earnings in future quarters, stated CEO John Sprovieri to Directors at the Company’s quarterly, year-end Board Meeting. With ASCK entering the revenue producing stage, it is doing so with possibly the least amount of convertible note debt, which the company had utilized in the past, to get to this enviable position.
With ASCK evincing the adage “That a lot of good can happen in a short period of time,” the company has emerged from being debt-ridden, using aged equipment, to a company kicking off 2020 with new equipment, cash on the books and its lowest debt in recent memory.Actually, the improvement has happened more rapidly than management at one time had recently expected, plus the rapid turnaround was so quick it created a larger disparity in price between the company’s intrinsic value and current stock price. That, plus the extinguishing of all debt with PowerUp Lending Group, who at one time stated that “they would provide the funding to launch ASCK in its entirety, and in a non-toxic manner” has helped. With both of PowerUp’s statements proving to be false, further down pressure had been applied on the price per share than management had anticipated.After clearing the PowerUp debt off the books, leaving ASCK with minimal debt, an alliance was reformed with previous investors, whose reputation is nothing likened to that of PowerUp. In actuality, they have signed on as being the primary lender for ASCK going forward, for additional equipment and future expansion as the needs arise.All the production equipment is new and on hand during the final stages of setting up and the commencement of the production cycle. The company now can begin confirming and filling hard orders for their products in February. These firm orders will lead to healthy revenue projections beginning in the 1st quarter. The initial orders are in the immediate area of the production facility, thus allowing ASCK to fill orders rapidly and efficiently right from the launch. These orders in the immediate vicinity have been derived from the excitement of the much-anticipated launch of the Auscrete Company in their area.While this Press Release is focused on the current state of the company by the CEO, it is to be soon followed by additional PR, with more detailed updates featuring construction contracts and the production equipment along with announcements regarding further revenue producing activities in the foreseeable pipeline.Watch our blog (address below) for updates of the Company’s projected direction, photos and future.SAFE HARBOR
“Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: Certain statements contained in this press release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can generally be identified by their use of forward-looking terminology such as “may,” “expect,” “intend,” “estimate,” “anticipate,” “believe” and “continue” (or the negative forms thereof) or similar terminology. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results or those implied by such forward-looking statements. Investors are cautioned that any forward-looking statements are not guarantees of future performance and that actual results may differ materially from those contemplated by such forward-looking statements. Auscrete Corporation assumes no obligation and has no intention of updating these forward-looking statements, and it has no obligation to update or correct information prepared by third parties that is not paid for by Auscrete Corporation. Investors are encouraged to review Auscrete Corporation’s public filings on SEC.gov and otcmarkets.com, including its unaudited and audited financial statements and its OTC markets filings, which contain general business information about the company’s operations, results of operations and risks associated with the company and its operations.For more continuous updates follow the AuscreteBlog.com.
For more information, please contact:
Investor Relations
lee@auscretehomes.com
305-853-8404
www.auscretehomes.com
