Planet Resource Recovery, Inc. (PLANET) (Pink Sheets: PRRY),
developer, manufacturer and marketer of PetroLuxus(TM) and other
green remediation and recovery technologies, issues shareholder
audio update from Kurt E. Neubauer, Chairman of the Board and CEO.
Complete transcript below or can be heard at -
http://www.planetresource.net/audio/audio_update_04_20_11.wma
Dear Shareholder:
Hello, this is Kurt Neubauer, President and CEO of Planet
Resource Recovery. Thank you for taking the time to join us for
this audio update. I wanted to inform you of some of the events
occurring at Planet.
Inspar Litigation
Due to the current litigation, the only news we can relay
concerning Inspar is that a preliminary hearing was started on the
28th of March, and was concluded on April 14th. Upon advice of
counsel, we have been instructed to not comment on this pending
litigation. We would, however, like to bring you updated
information on other activities going at Planet.
Form 10 Filing
We continue to work toward our goal to file the Company’s Form
10 information statement, which unfortunately has slowed down due
to the ongoing Inspar litigation. However, as of this date, we have
posted our unaudited financials through the first quarter of 2011
on our website and on www.Pinksheets.com.
SRU-15 Desulfurization Unit
Planet and Lerro Processing have decided to defer R&D
efforts for the completion of the SRU-15 diesel fuel
desulfurization units until adequate financing can be arranged. The
Company and Lerro have worked diligently together to bring this new
and exciting technology to market. However, until Planet has
established a stronger financial foundation, no further investment
will be made in this system. This is only an intermission as we
plan to complete the development of this technology when adequate
capital is available.
Raptor Ventures LLC and Bolivia Mining Operations
Operations in Bolivia are currently on hold. Due to capital
shortfalls, Planet was not able to complete the antimony sale with
the Chinese buyer. Ore was shipped to the Chilean port, but due to
a missing export document, the ore got hung up because of the
missing paperwork. Once the paperwork was produced, the Chilean
government required us to truck the ore back to the Bolivian border
to restart the export process. Planet did not have and could not
raise the necessary funds to deal with this unexpected turn of
events and the ore was eventually taken back by its’ owner.
Regardless of the setback, Planet sees a vast opportunity in
Bolivia, not only for mining but also for the sale of it PetroLuxus
products.
PetroLuxus Sales
The Company has completed its’ initial studies on PetroLuxus and
has begun to market the product. Mr. Enrique Salinas accepted the
position of VP – Marketing - PetroLuxus as of January 1 of this
year. Since accepting the position, Mr. Salinas has sold over
$84,000 in PetroLuxus product for the first quarter of 2011 to
former, current and new customers. The first quarter sales mark
doubles full year sales of PetroLuxus in 2010. Sales for the second
quarter have already begun and Mr. Salinas’ goal is to improve the
Company’s first quarter sales performance results by 25%.
Corporate Office Move
In February 2011, the lease for Corporate Headquarters in
Houston, Texas was up. Due to the current capital requirements, we
did not enter into a new lease, but consolidated our Corporate
Offices with our Production Facilities. Due to the consolidation,
we were unable to move our phone number to the Pearland facilities.
Our Corporate Office address and phone number are as follows:
Planet Resource Recovery, Inc.
8815 Industrial Drive
Pearland, Texas 77584
And our new corporate phone number is 281-213-5622.
In Conclusion:
The Company understands that many have been waiting a long time
for news. We were not able to publish any news on advice of counsel
up to this point. It became obvious to management that investment
capital could not be raised due to the recent drop in share pricing
and that PetroLuxus sales production had to be established before
continued investment could be made. Planet’s management had no
desire to further dilute our shareholders at such low share pricing
and believes through sales of our PetroLuxus products the Company’s
stock price will turn around. Therefore, we are now totally focused
on the sale of PetroLuxus products. We expect the sales of
PetroLuxus products to continue to increase through the upcoming
quarters, thereby establishing a firm financial foundation for the
company to work from. Once this base has been established, we will
begin selectively resuming other operations, but with a better
understanding of the issues to give us an improved chance for
success. Regardless of our current state of affairs, our management
and employees are committed to the success of your company. Once
again the Company realizes the success we seek is mutual with our
shareholders and will not be possible without the vision of
investors and support of shareholders like you. We will remain
focused on attaining our marketing goals for PetroLuxus for the
remainder of 2011, as we feel it will be our best year for revenue
generation ever.
Special Message from Kurt Neubauer:
Many have probably wondered why Planet elected to take on these
other technologies and challenges rather than just bringing
PetroLuxus to market. The answer is that PetroLuxus was, at that
time, still in testing and trials, and it seemed essential to
create other more immediate revenue streams to slow down or stop
share dilution through continued investment. This is the reason we
went after these other opportunities. In an effort to minimize
share dilution from these continued sales of equity to fund the
Company, it was proposed to us immediate revenue streams could be
created through these endeavors. Through the creation of Raptor
Ventures to do Antimony mining in Bolivia or our previous
acquisitions such as RADA Technologies or others, the driving force
behind these projects was their expected capability to create
immediate revenue streams for the Company allowing us to operate
without further outside capital investment. That way any future
capital investment could be used solely to expand our operations or
to make acquisitions to expand our markets in the future.
Obviously, this has not worked out for us. So, until solid revenue
streams are established, we are concentrating on the sale of our
core technology, PetroLuxus, and internal capital formation.
I would like to express one last thought. The ongoing litigation
toward the Company and myself has created many distractions and
consumed a great deal of my time not to mention the high stress
levels it has created by all the false information placed on the
internet. Only a few people are aware of the fact that in the
summer of 2008, I underwent open-heart surgery having a quadruple
bypass operation. Although my recovery has been complete except for
a few additional pills I now take along with vitamin supplements,
the stress of all the negative postings and the battering that has
gone on has and continues to take its toll on me.
At this time, I want to regretfully announce that I will be
stepping aside from Planet from the position as President, Chief
Executive Officer and from the Board of Directors of the Company.
The Company requires more attention and energy than I am prepared
to give.
My last day of employment was April 15, 2011.
I want to take this opportunity to thank all of you for your
support throughout the years. I have enjoyed building this company
from the beginning to now. Mr. Enrique Salinas has been with Planet
from its inception and I am very pleased that he has accepted the
Company’s appointment from me as the Company’s new President and
CEO. These changes took place, at a special Board meeting held on
April 4th, 2011, when Mr. Salinas was also appointed to the Board
of Directors. I wish Mr. Salinas all the best in his efforts to
take the company to the next level and feel confident he is up to
the task. I hope you will support his efforts to bring Planet into
a full revenue generating company as you have supported my efforts
to bring the company this far. So long and God Bless this Company,
all who work here and all that have and are invested here.
That concludes this shareholder audio update. Please continue to
look for upcoming news announcements as they develop in 2011.
The Company looks forward to announcing its next audio update
and results. Keep in touch with our updates by viewing our website
at www.planetresource.net. We are available to answer your queries
and hope that you will send an email to us with your comments or
questions. Please email your questions to us at
investors@planetresource.net or call us at 281-213-5622. We are
happy to answer your questions but keep in mind that our responses
can only reflect that information that is already publicly
available.
Thank you for your support. We appreciate you standing steadfast
with the company and its employees. Signing off for the last
time.
Regards,
Kurt E. Neubauer
About Planet Resource Recovery,
Inc.
Planet Resource Recovery, Inc. develops, manufactures, and
markets products, processes and technologies based on scientific
research and understanding of silicon and siloxane sciences to
enhance the recovery of the planet’s resources including metals,
minerals and hydrocarbons. Our goal is to create new methodologies
to optimize Oil & Gas production, maximize the harvesting of
base and precious metals, the remediation of toxic heavy metal
environmental contamination and the reduction or elimination of
corrosion of metal through the use of proprietary with breakthrough
technologies utilizing advanced science and chemistry to increase
efficiencies, reduce costs, protect the environment and
resources.
For more information visit: www.planetresource.net.
“Safe Harbor Statement”
Under The Private Securities Litigation Reform Act of 1995: The
statements in this presentation that relate to the Company's
expectations with regard to the future impact on the Company's
results from new products in development are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. The results anticipated by any or all of these
forward-looking statements may not occur. Additional risks and
uncertainties are set forth in the Company's Annual Report for
the year ended December. 31, 2009, the Company's Quarterly
Report for the First quarter ended March 31, 2010. The Company
undertakes no obligation to publicly release the result of any
revisions to these forward-looking statements that may be made to
reflect events or circumstances after the date hereof, or to
reflect the occurrence of unanticipated events or changes in the
Company's plans or expectations.
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