Counter Offer Presented to Enzyme Environmental Solutions; Deal Attracts Third Party
May 15 2009 - 10:13AM
Marketwired
Enzyme Environmental Solutions, Inc. (PINKSHEETS: EESO) CEO Jared
Hochstedler has been granted permission from prospective buyers to
release pertinent information in regards to their offer.
This announcement is to summarize and confirm that the original
buyout offer was negotiated by LMPC (Loss Prevention Management
& Consulting corp.) CEO, Craig Douglass, acting as independent
consultant on behalf of private acquisitions partners, Bo & Su
Lee, in association with Han Bool Co., LTD, and a conglomerate of
additional companies in Southeast Asia which have requested within
the collective agreement to remain anonymous at this time. Any
conflict of interest regarding Douglass' previous associations with
both parties as a supporter was fully disclosed and accepted by all
involved.
Bo & Su Lee are involved in projects around the world
including their latest U.S. domestic real estate venture, The Star
Towers (www.star-towers.com) in Atlanta, GA. The group's original
offer to EESO was a complete buyout at .10 per share based on the
company's 2,000,000,000 (2B) authorized common shares in the form
of cash and stock totaling $200,000,000 (200M). The offer was
turned down by CEO Hochstedler with confidence that the company,
including its overall potential internationally, was worth
significantly more. The prospective buyers agreed to respond with a
counter-offer and have done so at a price that Hochstedler wishes
to remain confidential at this time.
"This has been an interesting turn of events; and it has been
exciting for us to say the least," comments Hochstedler. "The
counter-offer is a cash and stock offer that is considerably more
attractive than the group's first offer to us. This is a very
positive step for EESO and its shareholders. I firmly believe that
we have entered into a new stage of growth at Enzyme Environmental
and we are not turning their counter-offer down, but we have
requested more time on our decision due to a few notable factors:
We've had an extensive increase in percentage of unsolicited
inquiries and finalized sales in the licensing and private labeling
arenas the last few months. Much of the credit for this goes to our
new President, Mark Murphy, who has been very active in developing
key marketing tools, industrial test kits and implementation of a
branded sales force in both domestic and international sectors. In
addition, our successes in South Korea, as evidenced by our recent
buyout offer, have attracted an additional prospective offer from a
globally recognized player in the Commodity Chemicals industry,"
comments Hochstedler. "It would be foolish not to take the time to
evaluate this opportunity. It's not necessarily the size of the
buyer that affects our decisions, but rather, exploring every
option available to EESO and its shareholders prior to making any
final verdict regarding a buyout of any kind, be it partial or
complete."
The new prospective offer is pending the corporation's due
diligence on Enzyme Environmental Solutions including its product
and formula applications in terms of efficacy and marketability.
Further, the corporation's pending offer is attached to a
confidentiality clause which forbids the release of their name
until, and only if, a formal offer is made.
The counter-offer from the Lee's, Han Bool and their affiliates
is currently withstanding as-is and Hochstedler will continue
"harvesting success in the midst of a situation that will certainly
bring additional value to EESO and its shareholders," according to
the CEO. "If, for any reason, the second party fails to come
through with an offer in a reasonable amount of time, we will be
disclosing details regarding the original party's counter-offer and
making a decision therein before its expiration. We believe our
overall strategy here inevitably puts EESO and its shareholders in
a winning position in both the short and long-term."
Safe Harbor: This release may contain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Statements contained in this release that are not
historical facts may be deemed to be forward-looking statements.
Investors are cautioned that forward-looking statements are
inherently uncertain. Actual performance and results may differ
materially from that projected or suggested herein due to certain
risks and uncertainties including, without limitation, ability to
obtain financing and regulatory and shareholder approvals for
anticipated actions.
Contact: Newbauer Media Relations Enzyme Environmental Solutions
Email: mark@enzymeconsultants.com
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